In a survey released this week by Slickdeals, the parents of children who believe in Santa Claus say they will spend 27% more on Christmas gifts this year than parents who say their kids don't believe in Santa.
Parents of children who believe in Santa say on average they will spend $491 on gifts this year, whereas their non-believing peers plan to spend $388. The survey also showed that 87% of parents of children who believe in Santa are excited about Christmas, while just 41% of other parents say they're excited.
RELATED STORY | Gift cards to buy and avoid this holiday season
Children who believe in Santa typically average getting seven gifts per year while non-believing children will only get four gifts, the survey found.
"Believing in Santa seems to bring extra magic to the holidays for families," said Elizabeth Simer, chief business officer at Slickdeals. "Parents of Santa-believers may feel more urgency to make each Christmas memorable, which could explain the higher spending."
It also turns out that threats of being on Santa's "naughty list" are generally empty. The survey found that 87% of parents said their children will still get presents from Santa regardless if they have been naughty or nice.
According to a CouponBirds survey, parents are expected to spend $461 per child this Christmas. About 9% of parents will spend $1,000 per child this year.
