The tooth fairy isn't paying as much for teeth this year, contrary to market trends
It may be in the tooth fairy's heart to give more this year, but it isn't in her wallet, according to the annual Tooth Fairy Report put out by Delta Dental.
The value of a single tooth declined by 6% over the last year, making it the first time in five years parents have decreased their payout. The data, collected from 1,000 families with children ages 6 to 12, comes just in time for National Tooth Fairy Day, celebrated on Feb. 28 each year.
Last year, the average payout for a child's tooth was $6.23. This year, that amount is $5.84. Additionally, the value of a child's first tooth, a milestone usually met with a larger amount, dropped from $7.29 to $7.09 the past year, according to the poll.
This year, it is not a reflection of the economy
In the past, Delta Dental's Tooth Fairy Poll has mirrored the direction of the economy, but there has been a plot twist the past year given the S&P 500 saw a 20% increase while data being collected for this report showed declining value.
However, some areas of the country trended up with the economy, increasing the payout for their children's lost teeth.
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The west leads with highest payout for lost teeth
Despite the national average, the west shows a 37% increase in the value for children's lost teeth since last year.
Parents in the Northeast also boosted their giving 12%, surpassing the national average by more than $1.00, according to the report.
The South fell below the national average this year after surpassing it last year and the Midwest saw a significant decrease of 36%.
Though many look at the report, as many others, as a marker of economic success or distress, Delta Dental hopes to keep a different conversation going.
Gabriella Ferroni, Senior Director of Strategic Communications at Delta Dental Plans Association, says that the poll is a "timely way to spotlight the importance of children’s oral health."
“Despite the more economical reward, Tooth Fairy giving is a fun conversation starter to encourage good oral hygiene habits at an early age," Ferroni shared in a statement.