“A growing number of consumers … whose closets are already stuffed with last year’s barely used, must-have blender and piles of neglected sweaters are asking for and giving more experience-based holiday gifts such as tickets to a concert, sporting event or a play,” reports Kavita Kumar in Thursday’s (12/22) Star Tribune (Minneapolis). “The trend has been especially pronounced among millennials who often place as much if not more importance on Instagram-worthy experiences—such as traveling to far-off locales or attending music festivals—as having the latest fashions. It’s one of the many reasons why mall-based specialty retailers have been struggling and why categories such as board games, which facilitate socializing with friends, are in the midst of a big upswing. Travel and entertainment rose to the No. 2 spot, up from No. 6 last year, on the University of St. Thomas’ annual holiday spending survey of Twin Cities consumers.… The Minnesota Orchestra has seen a 43 percent increase in sales of holiday-related gift packages and promotions this year over last year. It’s hard to know if all of them are being bought as gifts or for personal use, but most are marketed with a holiday-giving message, said spokeswoman Gwen Pappas.”
Posted December 22, 2016
