Breaking News

Gift Giving is Shifting: Gifters Spend More on Services

December 2, 2005

Today's holiday gifters will be dramatically changing what they give. They will be shelling out for all-paid vacations, spa services, tuition, camp enrollment fees, health services and gift cards and plain but pretty cash. Who said it’s better to give than receive?
The U.S. Labor Bureau of Statistics tracks gifting expenditures in its annual reports. In 2003 it showed that the value of gifts of education, health and money well outweighed gifts of apparel, home goods and jewelry. And this phenomenon is not concentrated in one group. Fifty percent of tangible gifts are sourced from the baby boom generation with household incomes over $70,000, or roughly 25% of households. In contrast, gift shifters are everyone (e.g., all ages give cash; elderly give healthcare and baby boomers pay for a portion of hefty tuitions).
Everyone receives these gifts–teens receive gift cards, young families get tuitions, camps and vacations that gifters join in on, elderly get health gifts and baby boomers get priceless experiences. Even kids get trips to Disneyland and “bring your pet” event parties. And there’s even self-giving.
Much of the money given makes its way back to retail, and retailers are aware of this opportunity by having plenty of fresh merchandise in store for Dec. 26. But an increasing number of gift cards get redeemed for gas, and much of the cash is applied to rents and ordinary life expenditures.
blog comments powered by Disqus
  • A Facial Bar Grows in Brooklyn

    A Facial Bar Grows in Brooklyn

    Christine Esposito, Associate Editor||October 24, 2016
    With three doors in Canada, Blitz Facial Bar opens its first US location in one of the hippest areas of New York.

  • Free and Clear

    Free and Clear

    Melissa Meisel, Associate Editor||October 17, 2016
    OY-L aims for zero-chemical skin care.

  • Coming Clean on a Host of Issues

    Coming Clean on a Host of Issues

    October 17, 2016
    Cleaning Products Conference is set for Nov. 9-11, 2016 in Washington DC.

  • Skin Care of One’s Own

    Skin Care of One’s Own

    Christine Esposito, Associate Editor||October 3, 2016
    Nu Skin’s ageLOC Me—which melds the worlds of smart-phone technology, efficacious ingredients and personalization

  • Proof Positive

    Proof Positive

    Christine Esposito, Associate Editor||October 3, 2016
    Testing service providers enable companies to back up their claims and stay in compliance with regulations.

  • Change Is in the Air

    Change Is in the Air

    Doreen Wang, BrandZ ||October 3, 2016
    Technology is changing the personal care market