With the recent passing of black Friday sales and the upcoming holidays, many people are now opting to choose an experience as a gift, rather than an object. This is a trend that has been studied throughout the years based on the behaviours of millennials. Millennials, aged between 23-36, have increasingly been choosing experience over material objects. This trend in behaviour assisted in studying why people tend to enjoy an experience more.
In a recent study from the University of Toronto, a publication was recently released in the Journal of Consumer Research shedding light on what the best ‘gift’ for the holiday season would be. The results of the study were evident, whether you are looking for a gift for children or adults, the gift of an experience is a better option than a physical object.
The reasoning behind an experience being a better gift was due to the stronger emotions attached and the personal bonds it creates. Experiences such as visiting a spa, having a staycation in a hotel in Edmonton, taking the kids to the Ice Castles, or to attend their favourite show, gives the receiver something to look forward to. Children, in particular, have also shown strong responses to experiences rather than toys.
Also on the rise, is the attention and dedication to health and well-being. Focus on well-being, both mental and physical have seen a significant increase over the years, pushing meditation apps such as Headspace and Calm to the forefront.
One of the most stressful times is the Christmas season. The added pressure of family, travels, finances and more can all contribute high levels of stress. Reducing stress, relaxing and taking care of our bodies are areas that more people have been researching and implementing. Of course, the experience as a gift movement is not limited to only Christmas, but to any occasion throughout the year, including birthdays, anniversaries and for Mother’s and Father’s Day.
Whatever you decide to give, or receive, we hope it’s a good one.