How Gift Trends Changed in COVID-19
Jun 23, 2020
COVID-19 has brought many changes in our life. Gift trading industry has also evolved in this serious time. People also accepted the newly discovered gift trends in the USA. In such unmatched times as those we all currently face amid the worldwide Covid-19 pandemic, everyone’s thoughts will always first address our loved ones. But it’s also highlighted the importance of the gift of giving.
The holiday is typically celebrated with family outings to brunch, spas or family union parties at homes- and amid many in-person hugs and kisses. But because the coronavirus pandemic restricts where we will go, and makes social distancing a replacement norm, many of those traditions will need to be postponed to a different year.
Long before most folks had even heard of a COVID-19, the gift trading industry has been growing with the introduction of more new gift trends in what was an already challenging business environment for leisure, food, and beverage manufacturers.
New gifting behavior is emerging as social distancing boosts demand, alongside popular upcoming gifting occasions, like Father’s Day and Easter, and USA birthdays due before July, consistent with ONS data.
Gift Trends towards Personalization
Giving more personal gifts which will even be shared, like a meal or outing , was already a growing trend. But, for several businesses, gifting can also currently be the sole thanks to generate revenue against future sales.
With birthdays, Father’s Day, and Easter representing up to the maximum amount as 39% of the USA’s annual $3.3 billion spend on gifts for others consistent with the GCVA’s latest industry valuation, now’s the time to take a position in a gift.
So, consumer businesses of all shapes and sizes are watching gift to deal with immediate sales and cashflow challenges resulting from national lockdown measures that have forced many of their physical outlets to shut .
It might seem counterintuitive immediately to specialize in selling experiences that need interaction. But travel and leisure, also as F&B operators can use gifts to adapt their seasonal promotional marketing plans.
This can capitalize on a replacement gifting trend referred to as “sunny day gifting,” which is when a present – usually a card or voucher – is purchased with the intention of using it at a later date once lifestyle has returned to normal.
So, rather than giving chocolate at Easter, a gym member could perhaps gift an attempt membership to be redeemed when things recover. In fact, gifting experiences immediately can give the recipient something to seem forward to.
More Digital Rises to Meet Unparallel Situation
Consumers also are choosing more gifting options which will be sent digitally and delivered with zero contact during the crisis. As a result, a minimum of one in four consumers will ‘ping’ instead of post their gifts.
Digital gifting already represents 26% of all USA gift cards consistent with the UKGCVA research, rising to 50% of all gift cards spent online. this is often predicted to rise sharply as people manage their gifting from home.
So, it’s easy to ascertain why gifting has already seen positive adoption throughout the retail and hospitality sectors. But now’s a perfect time for each shop, bar, restaurant, and another outlet to specialize in their digital gift card strategy.