Breaking acronym alert! The world’s sociologists have been at it again. All hail the pank, or ''professional aunt, no kids’’, a species defined by the spoiling, confidence-sharing and general nurturing of other people’s nippers.
When Elizabeth Kesses, a children’s writer living in Paris, comes home to Britain she has one priority: picking out the right presents for her adored nephews.
Expensive Petit Bateau clothes and exotic toys; nothing is too good for Oscar and Jake as far as their aunt — who has no children of her own — is concerned.
She is even planning to take the pair on holiday.
The rise of the PANK - professional aunt, no kids - is just one trend highlighted in this year's WTM’s Global Trends Report.
The report, by research firm Euromonitor International, supported the International Monetary Fund’s forecast that global GDP would grow by 3.8% in 2014.
A US-based website community for aunts and godmothers, Savvy Auntie, copyrighted the demographic term last December, estimating that there are 23m PANKs in the US, roughly one in five in the age group, spending US$9 billion (£5.6bn) annually on children...