Recent research has revealed that those aged under 55 are more likely to make a donation to charity than their older counterparts.
According to a Corporate Banking Survey from Barclays, those under the age of 54 donate more money to charities than those over the age of 55, contrary to common perceptions.
Based on the views of over 2,000 UK consumers, the survey found that those aged between 35 and 54 donated the most, at £265 on average in 2017. The under 35’s were just behind this, at £246 on average, with the over 55s reportedly giving the least – an average of £168 last year.
However, despite the results indicating that the younger generation are likely to donate more on average, it also revealed that six out of ten causes still believe that those over 50 are the main source of their donations.
What’s more, it seems that the digital influence of the younger generation is now finding its way into the charities sector, with 4% already using contactless donation boxes, despite them being in the trial stage. Online donations have also seen a significant increase over the last few years, with many enabling users to make a donation is just a matter of clicks. For the charities that have adopted new ways to raise funds, nine out of ten have seen a return in their investment.
Commenting on the findings of the report was David McHattie. The Head of Charities at Barclays Corporate Banking highlighted the vital contribution that the sector makes as well as the need for it to adapt accordingly. He said: “The voluntary sector contributes £12.2 billion to the UK economy and provides crucial support to the most deserving of causes. Fast moving shifts in technology and consumer behaviour create significant opportunities for charities, however, to continue to thrive, the third sector must continue to adapt. Nurturing loyal givers, while finding further ways to attract new support are critical. Investing in new innovations, whether online, on street, or in store, will ensure that important causes continue to benefit from changing donation demographics and preferences.”
