Why you Should Prioritize Memories and Experiences Over Gifts During Valentines
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A 2017 report by Eventbrite noted that three out of four millennials in the U.S said they would rather spend their money on an experience than purchase a physical item. This is compared to 53% of the same age group, who prefer to give their partners candy/chocolate as a valentine present, 33% prefer flowers, 11% jewelry, 19% clothing, and 16% gift cards.

Valentine’s Day Gifting – United States

Millennials Creative Nature

  • According to a report by Xperience days, millennials tend to stick to their creative nature, with a reasonable number of them choosing to give their special ones experience gifts.
  • YPulse opined that date nights tops the list of gifts that young consumers say they’d like to get, evidence of their experience-focused mentality.
  • As reported by YPulse, half of the young people aged 13-36, and 57% of 18-36-year-olds, told us they think they’ll be going on a date for Valentine’s Day.
  • Xperience Day’s survey shows that 26% of Americans (millennials) aged 18 to 29 give their partners experience gifts. In comparison, many of them choose memorable events such as evening outings (64%) and proposals (1%).
  • A 2017 report by Eventbrite noted that three out of four millennials said they would rather spend their money on an experience than purchase a physical item.
  • This is compared to 53% of the same age group, who prefer to give their partners candy/chocolate as a valentine present, 33% prefer flowers, 11% jewelry, 19% clothing, and 16% gift cards.
  • The recent popularity of experiential gifts among millennials is attributed to the presence of social media. The ability to record and remember the experiential gift – making it ‘permanent’ – appears to hold more value than receiving something that is simply physical.
  • Another factor driving experiential gifts is the demand to create long-term happiness.
  • Research by Cornell University indicates that sharing an experience with people have a greater likelihood to create more long-term happiness than simply giving them a smartphone.

Gifts to Partners

Older Millennial’s Spending

  • According to the National Retail Federation, older millennials represent the biggest-spending age group on Valentine’s Day.
  • In 2018, U.S millennials aged between 25-34 planned on spending an average of $202.76, compared to an overall average of $143.56. This equaled a total of $19.6 billion.
  • As of 2020, U.S. adults between the ages of 24 and 39 were expected to spend about $208 on Valentine’s Day present, compared to $152 reported by the typical adult.
  • This is also higher than their older counterparts, with $160 for Generation X, $101 for baby boomers, and $43 for the silent generation.
  • A Harris Group study opined that 72% of Millennials prefer spending money on experiences rather than things.
  • They were also 18% more likely than the average adult to gift an experience instead of an item.

Millennial's spending

Valentine’s Day Gifting – Germany

  • Valentine’s gifts in Germany are in the shape of love tokens, with lovely messages.
  • Lovers will exchange not only chocolates, flowers, and heart-shaped gifts, but something special for this celebration a pig.
  • This pig represents luck and lust and can be given in the form of a statue, chocolate, or how one sees fit.
  • According to a survey by Statista, 88% of women and 72% of men in Germany think a romantic dinner is appropriate for Valentine’s Day.
  • Other memory/experienced-focused present identified by Germans include a personal letter (78% women and 55% men), handmade items (73% women and 51% men), a voucher for shared activity (70% women and 47% men), and a trip/shot trip (58% women and 44% men).
Which gifts do you think are appropriate for Valentine's Day?
  •  In general, 12% of Germans gifts their partners a gift of experience for the Valentine’s Day celebration.
  • Other memorable options by Germans include restaurant visit (31%) and vouchers (7%).
GLENN TREVOR
Glenn is the Lead Operations Research Analyst at The Digital Momentum with experience in research, statistical data analysis and interview techniques. A holder of degree in Economics. A true specialist in quantitative and qualitative research.

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