# UK’s in-memory giving market now valued at record level – up to £2.4bn a year

- Link: https://fundraising.co.uk/2023/09/11/uks-in-memory-giving-market-now-valued-at-record-level-up-to-2-4bn-a-year/
- Published: 2023-09-11T16:19:41+01:00
- Author: Melanie May

**The UK in-memory market has grown significantly over the last 10 years and is 
now valued at a estimated £1.8bn–£2.4bn a year – a record amount – according to 
Legacy Foresight.**

[Legacy Foresight’s](https://www.legacyforesight.co.uk/) data also reveals that 
while the majority comes from funeral donations, this dominance is declining. 41%
of the total comes from group in-memory fundraising – where three or more people
fundraise in memory of someone they have lost – with this on the increase.  

Donations as part of a group are also likely to be higher than donations made by
individuals, something Legacy Foresight says is largely due to the emotional power
and logistical benefits group fundraising can bring. However, it also highlights
that in-memory teams are often unaware of group in-memory fundraising activities
because groups are engaging with community fundraising or charity events teams.

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[The research](https://www.legacyforesight.co.uk/wp-content/uploads/In-Memory-Insight-Remember-Together-Public-Briefing-2023.pdf)
also found that all in-memory supporters appreciate and need acknowledgement, both
of their loved one and their own fundraising efforts, with even supporters who chose
to be more private about their motivation noticing when there was no acknowledgement.

Ashley Rowthorn, CEO of Legacy Futures, said:

> “The analysis highlights a lack of joined-up structures within fundraising teams,
> leading to the group dynamic being overlooked. Being able to identify in-memory
> groups and record their motivation for giving is key to enhancing the supporter
> experience and maximising fundraising potential.
>  
> “The data and intel provided by this study presents senior leadership teams with
> hard, unequivocal evidence regarding the value of in-memory giving. It will help
> nonprofits make strategic decisions around their own in-memory investments, teams
> and campaigns.”

#### More findings

 * A third of UK adults have given an in-memory donation in the last year.
 * Young people (18-44) are a key part of the in-memory market, giving higher than
   average donations – almost x3 more than was donated in-memory by people in the
   65-75 bracket. 
 * Online payments are most popular, and evidence is starting to be seen of newer
   payment methods being used, such as through gaming and social media.
 * Health charities and hospices receive over half of all in-memory donations (by
   volume) but loved in life charities also receive a high proportion, especially
   from the purchase of commemorative objects and events.
 * Funeral donations remain the largest source of income, but their dominance on
   in-memory income is declining, while in-memory group giving is growing fast (
   more details below).  
 * Around half of donors surveyed think a charity knows their gift is in-memory 
   motivated – but benchmarking data suggests otherwise with many charities being
   unaware, especially of group in-memory donations.

The research looked at the size, shape and scope of in-memory giving in the UK, 
using data from its In-Memory Insight Programme – a ‘learning circle’ of 48 charities–
and results from a consumer survey that tracks in-memory giving activities of over
2000 members of the UK public.