It is estimated that almost 4 million US citizens incurred debt through their Christmas spending in 2009, as price inflation did not fall in line with the economic downturn. This has led many to turn to innovative and cost-effective ways to source gifts for friends, family and loved ones without losing the magic and warmth of the gift exchange experience. Fortunately, there are an ever increasing number of ways in which affordable gifts can be purchased, especially in the instance of a man buying for his wife or partner.
The internet offers great advantages in discounted prices, as they are able to supply goods and postage at reduced rates to those available in store. Personalized and customized gifts are also popular ways to reduce the financial outlay at Christmas, while still providing well considered and thoughtful gifts for loved ones. A vast majority of this market suits male consumers who are buying for women, as it allows goods to be searched, found and brought with a minimum of hassle.
Sourcing or Buying a Personalized Gift for the Wife
The personalized gift market generated over $27 billion in sales turnover in the US through 2009, with more than 100,000 businesses established by selling personalized gift products as their staple activity. Its value and strength within the gift market is growing annually, especially as the technology involved in the processes used improves and reduces the cost of producing personalized goods for sale.
In terms of affordability, personalized gifts prove to be particularly popular during recessions or economic depressions. This is chiefly because consumers become especially money conscious during these times, and seek additional value for any money that they chose to spend. So buying a personalized gift is the perfect way to make a long lasting impact on the recipient, and all for a minimal cost outlay.
In addition to this, many major online outlets and stores now offer a personalized service as part of their appeal to the consumer. So, rather than seeking specific gifts and having them engraved or personalized separately, it is now possible to buy a product and have it amended in the same place and for a single cost charge. This not only makes the process quicker and easier, but also makes it a far more cost-effective practice for the customer.
Pampering Gifts and Experiences
In terms of relaxation and quality gift experiences, spa treatments have proved especially popular for many years. However, this is not an inexpensive activity, as spas or remote health clubs offer luxurious surroundings and extensive facial and body treatments as part of the package. For consumers looking to treat a loved one to such delights at a fraction of the cost however, there are other suitable gift ideas.
Pampering gifts or pampering experiences can now be customized online and sent directly to your door. The most commonly purchased is a hamper, which allows a consumer to select exactly which individual items are included to suit the recipient’s likes and requirements. These are then packaged in economical and aesthetically pleasing wooden boxes, before being shipped and delivered in a specified time frame. This gift concept bring the spa to the home at vastly reduced costs, and a hamper can contain a range of items such as scented candles and bathroom accessories, as well as luxurious bath and body cosmetic products.
An Adaptive Market
These innovations in product conception are helping markets and industries adapt to the continued economic decline. Good brands are responding to reduced spending and increased levels of debt by being creative in their design, and creating wow factor gifts or experiences at much more affordable costs. By taking established ideas and customizing them so that they are more accessible to customers on a budget, they are easing a financial burdening and helping to ensure a debt free Christmas for all.
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