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Is Experience Gifting a Boom for the Gifting Industry?

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“Life is not measured by the number of breaths we take, but by the places and moments that take our breath away” – Anonymous

Sometimes it is very hard to find the right gift for someone, especially if that person has been in possession of what you want to give. For such times and for an innovative way of giving gifts, experience gifting is the perfect choice. Experience gifting is exciting, interesting, and beneficial in replenishing the tiring life. These gifts usually add value and increases happiness in a person. When given to someone, the gift can delight, inspire, and excite the recipient while creating a wonderful memory at the same time. With its diverse range and unique presentation, this form of gifting appeals to a diverse mix of people. There are thousands of experiences to choose from if you truly want to gift someone the noble present of experience.

The concept of experience gifting came from the United Kingdom in the 1990s when the Red Letter Days came to existence. The company was founded by Racheal Elnaugh, who came with the idea of experience gifting when she was planning to give her father gift tickets for an England team cricket match. Later, Red Letter day’s experienced huge success. Following this success, several companies opened this form of gifting in different countries and thus became a integral part of the gifting industry. Recently, several companies in India have joined the race of experience gifting; one of them is Send My Gift. Most gift centers that offer experience gifting are online stores and offer users a wide gamut of choices among various categories.

Over the years, several researches have been performed about the effects that experience gifting has over material gifts. The parameters to determine the results were happiness, value, memories and the effect on the recipient. The results obtained were:

  • Experiences lead to an heightened sense of satisfaction than material possessions (Carter and Gilovich 2010).
  • Experiences are perceived to provide greater happiness (Van Boven and Gilovich 2003).

India’s gift market is estimated to be close to $30 billion dollars. As gifting, take the centre stage, especially during the holiday seasons, celebrations, festivals and marriages in India and in certain cases corporate reward programs, the Gift Industry has positioned itself as one of the top revenue earners.

Experience Gifts VS Material Gifts

Materials gifts have always been a part of any event and celebration. A person’s birthday or wedding anniversary sees the introduction of several material gifts to the invitee’s family. These gifts unless needed for do not make either of the party, giving and receiving gifts happy. But in the case of experience gifting everything is unique and everything is new. Here are few exceptional features that make experience gifting one of the best and most sought after in the industry.

  • Unconventional and Exciting:

    Experience gifts are never boring or conventional like any regular gifts given. Be it a small birthday party or something big like a wedding, experience gifting are the best for all occasions.

  • Memorable and Special:

    There is no denying the fact that memories create a lasting effect on the mind. A positive memory always brings happiness, whereas a negative memory always brings in sadness. Experience gifting is just that. It brings in happy memory not only when the person receives the gift but also when the person experiences it in real time.

  • Effortless to Select:

    When selecting an experience gift, there is no chance for confusion. As there are several categories and budget available for this form of gifting, anyone can deliver it without thinking about their budget. Any gift here is suitable for anyone.

  • Personal Touch is Well Appreciated:

    Since memories make people happy, they are also well appreciated by everyone. This form of gifting adds a personal touch and makes the gift more unique. For example, gifting your brother a bike tour of the city on a Harley Davidson will definitely make him elated and you happy knowing you gave something appreciating.

Some Great Experience Gifts

If you are still confused about experience gifting, here are a few things that makes exclusive experience gifts:

  • Race Car Experience
  • Dinner Cruises
  • Special Train Rides
  • Spa Days
  • Whitewater Rafting
  • Wine Tastings
  • Skydiving
  • Rock Climbing
  • Paintball
  • Language Lessons
  • Gift vouchers
  • Cooking Classes
  • Flying Lessons
  • Scuba Diving
  • Horseback Riding
  • Hang Gliding
  • Dancing Lessons
  • Kayaking
  • Hot Air Ballooning
  • Helicopter Rides
  • Bungee jumping

Rasbor Implementing Experience Gifting for Send My Gift

Send My Gift, a reputed online gifting store, incepted in the year 2015 offers easy gifting solution to customers. With over 7000 sellers offering custom gifting solutions through SMG, the company is becoming a leading name in the field of online gifting service. As an upcoming giant in the field of gifting, Send My Gift came to us for site digital transformation. Among all the work Rasbor was assigned, one was implementing an experience-gifting module, which would enhance the practice of gifting. As UI and UX were the main focal points for our client, we ensured that the module we implemented made the site more attractive and beneficial for gifting. The experience gifting page was uniquely designed to make visitors feel the importance of an one-of-a-kind gift. The result received from the page, once live, was overwhelming. Gifting Industry can do very well with more options of this form of gifting. Rasbor excelled in making the project distinctive and exclusive for Send My Gift.

Conclusion

The current total size of the gifting industry is $100 million. Out of this hold, experience gifting share is considerable. Every year experience gifting industry is expanding and taking a major hold in the gifting industry. This is an unique segment of the gifting industry and has the capability to grow on its own. It also has the capability to expand the entire gifting industry. So, in the coming years, we will not be surprised to see the next round of big funding going to these companies.

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Is Experience Gifting a Boom for the Gifting Industry?