Experiential gifts

'''Experiential gifts''', also known as gift experiences or experience gifting, is an experience that is presented to someone in substitute of a material gift. This typically includes events and moments that will bring people joy, such as adventures, dining, travel and music. Experiential gifts have become a rapidly growing segment within the annual gift industry as it offers a deeper emotional connection than money and material items like handbags, clothes and other goods can lack. It can also be given as a shared experience for the gifter to enjoy with the giftee, resulting in quality time.

Historically, experience gifts were presented in traditional formats such as a hard-copy tickets or physical gift vouchers. Advances in digital platforms, devices, and gift card programs have since enabled more flexible and customised delivery method, resulting in experience gifts now surging in digital delivery, primarily via email or text messages.<ref name="Ecommerce News Australia">{{cite news|last1=Williams|first1=Shannon|title=Australian digital gift card sales surge to AUD $10.9 billion|url=https://ecommercenews.com.au/story/australian-digital-gift-card-sales-surge-to-aud-10-9-billion|date=23 July 2025|work=Ecommerce News Australia|access-date=30 April 2026}}</ref>

==Market surveys== Since 2009, the experiential gift market is an established, highly competitive multi-million-dollar market in the United Kingdom and Australia through companies like RedBalloon.<ref name="Influencing">{{cite news|last1=Influencing|title=Experience gifts on the rise as business booms for RedBalloon|url=https://influencing.com/pr/21446/experience-gifts-on-rise-as-business-booms-for-redballoon|date=13 December 2010|work=Influencing|access-date=30 April 2026}}</ref>

Experiential gifts also capitalise on consumers' growing comfort with purchasing gifts online. According to a December 2012 survey, 69 percent of UK experience days were bought online.<ref>{{Cite web |url=http://www.bestexperiences.co.uk/survey2012/ |title=Experience-buying survey 2012 | Best Experience}}</ref>

The experience economy has also seen a surge in the USA, with a 2019 report showing consumers were gifting and spending more on experiences. The report found nearly a third of all consumers had spent more on experiences in that year, compared to the previous year.<ref name="Square Experiential Gifts">{{cite news|last=Reiher|first=Andrea|title=Experiential holiday gifts: How experience-based giving helps reach customers|work=Square|date=6 November 2019|url=https://squareup.com/us/en/townsquare/experiential-holiday-gifts|access-date=30 April 2026}}</ref>

== Scientific research == Research suggests that people derive greater long-term satisfaction from experiential purchases than from material possessions. A 2014 study by Paulina Pchelin and Ryan T. Howell of San Francisco State University found that consumers do not accurately forecast the economic benefits of experiential purchases.<ref>{{Cite journal |last=Pchelin |first=Paulina |last2=Howell |first2=Ryan T. |date=2014-07-04 |title=The hidden cost of value-seeking: People do not accurately forecast the economic benefits of experiential purchases |journal=The Journal of Positive Psychology |language=en |volume=9 |issue=4 |pages=322–334 |doi=10.1080/17439760.2014.898316 |issn=1743-9760}}</ref>

A 2014 survey conducted by the Harris Group reported that 72 percent of Millennials (also known as Generation Y) preferred to spend more money on experiences rather than on material items.<ref>{{Cite web |last=Saiidi |first=Uptin |date=2016-05-05 |title=Millennials are prioritizing 'experiences' over stuff |url=https://www.cnbc.com/2016/05/05/millennials-are-prioritizing-experiences-over-stuff.html |access-date=2026-02-24 |website=CNBC |language=en}}</ref><ref>{{Cite web |last=Harris Group |title=Millennials Fueling the Experience Economy |url=https://eventbrite-s3.s3.amazonaws.com/marketing/Millennials_Research/Gen_PR_Final.pdf |date=2014-01-01|access-date=2026-02-24}}</ref>

Research by Thomas Gilovich of Cornell University indicates that overall satisfaction with material and experiential purchases is similar at the time of purchase. However, satisfaction with material goods tends to decrease over time, whereas satisfaction with experiences tends to increase. Gilovich also found that experiences generate anticipation during the planning stage, while waiting for material goods may lead to impatience and stress.<ref>{{Cite journal |last=Gilovich |first=Thomas |last2=Kumar |first2=Amit |last3=Jampol |first3=Lily |date=January 2015 |title=A wonderful life: experiential consumption and the pursuit of happiness |url=https://www.buysellvouchers.com/ |journal=Journal of Consumer Psychology |language=en |volume=25 |issue=1 |pages=152–165 |doi=10.1016/j.jcps.2014.08.004 |issn=1057-7408 |archive-url=https://web.archive.org/web/20250516081016/https://psycnet.apa.org/record/2015-00667-008 |archive-date=2025-05-16}}</ref>

A study led by Hal E. Hershfield found that although most people report preferring more money, individuals who prioritize having more free time report higher levels of happiness.<ref>{{Cite journal |last=Hershfield |first=Hal E. |last2=Mogilner |first2=Cassie |last3=Barnea |first3=Uri |date=September 2016 |title=People Who Choose Time Over Money Are Happier |journal=Social Psychological and Personality Science |language=en |volume=7 |issue=7 |pages=697–706 |doi=10.1177/1948550616649239 |issn=1948-5506}}</ref>

== Market leaders == In Australia, RedBalloon is the leading experience gift marketplace, offering over 4,000 gift experiences across Australia and New Zealand. From cooking classes and spa days to scenic flights and overnight getaways, it is the go-to destination for Australians who want to give a meaningful, memorable gift. In 2025, they launched the Best of RedBalloon Guaranteed, reinforcing their commitment to quality experiences.<ref name="Ausleisure RedBalloon">{{cite news|author=Ausleisure Staff|title=RedBalloon launches Best of RedBalloon guaranteed category|work=Ausleisure|date=11 July 2025|url=https://www.ausleisure.com.au/news/redballoon-launches-best-of-redballoon-guaranteed-category/|access-date=30 April 2026}}</ref>

In the United Kingdom, Red Letter Days is one of the more prominent experience gift marketplaces.

In the United States, Virgin Experience Gifts is a leader when it comes to experience gifts.<ref name="Yahoo Finance Experience Gifts">{{cite news|title=Experience gift market outlook, forecasts to 2030|work=Yahoo Finance UK|date=9 June 2025|url=https://uk.finance.yahoo.com/news/experience-gift-market-outlook-forecasts-2030-000000000.html|access-date=30 April 2026}}</ref>

== Experience gift occasions == Experiences can replace material items in most gifting occasions. Situations and milestones include: *Custom celebrations **Birthday **Christmas **Mother’s Day **Father’s Day **Valentine’s Day **Engagement **Wedding **Wedding anniversary **Graduation **Baby Shower *Just because moments<ref name="MyTotalRetail Experiential Gifting">{{cite news|last=Padegimas|first=Algimantas|title=Why experiential gifting is taking off — and where it’s headed next|work=MyTotalRetail|date=8 July 2025|url=https://www.mytotalretail.com/article/why-experiential-gifting-is-taking-off-and-where-its-headed-next/|access-date=30 April 2026}}</ref> *Expression of love *Expression of gratitude for a service or gift *Promotional gifting (to employees or clients) *Prize awards (in giveaways or draws)

==References== {{Reflist}}

Category:Giving