It’s a week after V-Day. Many of you are still coasting on your Valentine’s Day high. A few of you, however, might be feeling a little less than tickled pink. Here are some more revelations from the world of the psychology of gifting that might help put your funky mood in better perspective.
I hope you’re ready! Valentine’s Day is 5 days away. We all know the adage, “it’s the thought that counts,” but the anxiety of trying to buy the perfect gift still strikes fear into the hearts of men (and women) everywhere. What makes us so nervous about the act of giving someone a gift?
This is the year the Millennial consumer comes of age, with a projected 200 billion in annual purchasing power. Even Forbes magazine called it back in November 2015, saying “(Millennials are) a highly influential population that influences the buying decisions of other demographic cohorts…it’s time to put away any residual snark and learn to understand these youthful customers if you’re going to be able to create a millennial-friendly sales, customer experience and customer service approach.”
SmartGift celebrated Father’s Day with a heart meltingly cute video of kids telling us a little about their dads. They love their dads for dropping them off at school, taking them to the beach, playing football, getting them ice creams and spending a lot of fun time together. While these tender toddlers blew flying kisses at their dads on camera, we wondered about the origins of the holiday. Did you know that Father’s Day was a retail bonanza right from the start?
A synthesis of emerging technologies, consumer preferences and e-commerce innovation is fundamentally transforming the retail landscape. Today’s shoppers expect highly relevant and personalized experiences. Winning their purchase and loyalty requires deep customer engagement, targeted promotions and relationship-driven campaigns. The traditional gifting transaction (buying for others) meets few of those expectations, ensuring that gifting continues to be an anxiety-ridden, unfulfilling experience for consumers. But, it doesn’t have to be.
“In God we trust. All others must bring data.” – W. Edwards Deming, statistician, professor, author, lecturer, and consultant This is the age of ‘smart data.’ Retailers have shifted focus from sheer volume of data to how they can use it to achieve business objectives. This data-led economy creates massive opportunities for retailers to harvest insights […]
The nature of the gift economy forms a fundamental and fascinating debate in anthropology. Malinowski’s Kula Ring research (one of the oldest studies on gifting behavior) places emphasis on the non-altruistic motives of giving gifts. Reciprocity, he stated, is an implicit part of gifting wherein the gift giver expects a return gift of equal or greater value. […]