New Tinggly Holiday-Shopping Trends Survey Reveals Inflation-Weary Consumers Seek More Experiential and Creative Gifts

More than two-thirds (69%) claimed that high inflation will affect their holiday gift budget this year - with 34 percent saying even their dog will be lucky to receive a present!

NEW YORK, Oct. 10, 2023 /PRNewswire/ -- Tinggly, the leading global experience gifting company, today announced findings from a comprehensive survey they conducted on holiday shopping trends for the upcoming season. The survey provides valuable insights into how the holiday season is shaping up for consumers amidst economic challenges, high inflation, and evolving preferences. Here are some of the key findings:

• Inflation Impact on Gift Budgets

High inflation is a major concern for holiday shoppers this year, with 69% of respondents indicating that it will affect their gift budgets. Surprisingly, 34% humorously expressed that even their dog might be lucky to receive a gift. However, 29% remain determined to maintain their usual holiday spirit, undeterred by inflation.

• Fewer Gifts Planned / Different Gifts Wanted

39% of respondents plan to give fewer gifts this year, as their holiday shopping lists have shrunk. This trend aligns with the desire for more meaningful and personalized presents. Another third (36%) said they will give the same amount as last year – but are looking for a "different kind of gift."

• Online Shopping and Shipping Charges

High shipping charges are prompting 38% of respondents to reduce their online shopping this holiday season. Yet, 47% plan to shop online but will start earlier and prioritize gifts with free shipping.

• The Rise of Gift Cards and E-vouchers

Gift cards and e-vouchers are gaining popularity, with 85% of respondents having given one in the past. Convenience is a major driver, cited by 48% of respondents. However, concerns about their personal touch persist, as 13% consider them slightly impersonal. Tinggly has addressed this concern by including an attractive gift box that is sent to the recipient.

• Crafting and Homemade Gifts

A significant 33% of respondents plan to make gifts instead of buying them this year. This creative approach adds a personal touch to their holiday presents, demonstrating a shift towards more thoughtful and unique gifts.

• Influence of Sales and Promotions

69% of respondents revealed that sales and promotions will dictate their gift choices this year. Savvy shoppers aim to make the most of deals and discounts.

• The Desire for Experiential Gifts

When asked about giving an experiential vs tangible physical gift this season – only one-third say they would stick with physical gifts only. Close to 20% are all in on experience gifts. And 12% will go with an experiential gift if it is under $100. 54% of respondents expressed a desire to receive an experience gift, with 37% finding weekend trips the most appealing.

Commenting on these findings, Miglė Rakauskaitė, Head of Growth at Tinggly said, "Our survey highlights the evolving dynamics of holiday shopping, influenced by economic factors and a growing preference for unique, experiential gifts. Tinggly's mission has always been to offer memorable experiences, and we're excited to see the rising interest in this category."

The survey also revealed interesting correlations:

• 56% of those who claimed even their dog will be lucky to receive a gift this year said they are planning to give fewer gifts than last year. Claiming their list shrunk faster than a melting snowman.
• More than half (53%) of those who said even their dog will be lucky to receive a gift from them this year said sales and promotions will dictate their gift choice this year.
• Among those who said sales and promotions would dictate their gift choices, 34% plan to make gifts instead of buying them.
• 73% of those planning to buy fewer gifts this year will let sales and promotions dictate their choices.
• 40% of respondents who rely on sales and discounts for gift choices intend to give fewer gifts this year.

Tinggly encourages shoppers to consider the gift of experiences this holiday season, as 32% of respondents are open to mixing physical presents with experiential ones, and 12% are willing to try experiential gifts under $100.

As the holiday season approaches, Tinggly is ready to help consumers discover unique and memorable experiences that go beyond traditional gift-giving.

For more information about Tinggly experiential gifts visit: https://tinggly.com/

About Tinggly

Tinggly is a global and sustainable experience gifting company that seeks to change the culture of gifting and help people make more meaningful gifts. The company's mission is to promote happiness through the gifting of inspiring experiences, whilst reducing meaningless material presents. The Tinggly website currently offers more than 100,000 giftable experiences worldwide.

Press Contact:

Lynn Munroe
845-548-1211
https://www.tinggly.com

SOURCE Tinggly