Experiences not things

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by: Dick Stroud

More than one-quarter of all people giving gifts this year will make one of them an experience rather than a physical object. This is up from 20% last year (according to a US research outfit called Unity Marketing).

On average, consumers will each spend about $950 total on Christmas gifts this year, according to the same research study.

Gift vouchers for restaurants, spas, holidays, lessons and ‘events ‘ (like parachute jumps) are easier to wrap (and to purchase).

The research shows that this trend to giving ‘experiences’ rather than ‘things’ is particularly strong with the US’s Baby Boomers. This trend is also visible in the UK. I think a lot of the over-50s are desparate get rid of the junk and clutter of the lives and realise that there is only so long to pack in as much experience gathering as possible. This is going to be a huge marketing opportunity.

Not all experiences come with a three or even a four figure price tag. You can hit your credit card for $1.8-million and purchase a Virgin Galactic Charter to space (not available until 2009) or for cheapskates pick up a bargain $2,650 five-day shark expedition.

Original Post: http://www.20plus30.com/blog/2006/12/experiences-not-things.html