{"id":6038,"date":"2023-12-13T01:31:47","date_gmt":"2023-12-13T06:31:47","guid":{"rendered":"https:\/\/advertisingweek.com\/aw360\/2023\/12\/13\/the-gifting-revolution-sparkles-and-sustainability\/"},"modified":"2023-12-04T13:33:48","modified_gmt":"2023-12-04T18:33:48","slug":"the-gifting-revolution-sparkles-and-sustainability","status":"publish","type":"post","link":"https:\/\/advertisingweek.com\/aw360\/news\/the-gifting-revolution-sparkles-and-sustainability\/6038\/","title":{"rendered":"The Gifting Revolution (Sparkles and Sustainability)"},"content":{"rendered":"\n

By Caroline Parkes, Chief Strategy Officer, RAPP<\/em><\/p>\n\n\n\n\n\n

This Christmas feels different <\/em>somehow. John Lewis\u2019s place in the nation\u2019s hearts has been usurped by a Northern Ireland pub (cheers to you, Charlie\u2019s Bar). The warmth of nativity plays jars with the crisis in Jesus\u2019s place of birth, making UK-based parents hug their children just that little tighter. Vinted mania has taken hold in my office, leaving our annual charity sale of sparkly Christmas wear less well stocked this year. And RAPP\u2019s Value Levers research is telling us that Wi-Fi is more important to cash-strapped consumers than warmth. With so many shifting tides in culture, will this have an effect on the nation\u2019s gifting habits? And how can retailers adapt to this?<\/p>\n\n\n\n\n

Re-gifting is de rigueur this Christmas <\/strong><\/h2>\n

35 years ago I read an article in Elle magazine suggesting that regifting items coveted by friends was a new trend. I gave my first boyfriend a shirt he liked of mine and was dumped a week later. It put me off regifting for life! But today, regifting feels like it\u2019s very much in fashion and RAPP\u2019s \u2018Seasonal Sustainability\u2019 research[1]<\/a> shows that 78% of UK consumers would consider regifting.<\/p>\n\n\n\n\n\n

An article in London\u2019s Evening Standard magazine<\/a> proclaims \u2018we really need to decriminalise regifting\u2019 <\/em>which raises a point about whether one should be loud and proud, or whether it\u2019s better to keep schtum. The article suggests that stickers could be made to say \u2018proudly regifted<\/em>\u2019 so that we can erode the embarrassment and claim the moral high ground, an idea which I am going to embrace.<\/p>\n\n\n\n\n

Second hand is both sustainable and special<\/strong><\/h2>\n

An increase in sustainability as a consideration in gifting, is driving a shift in behaviour. RAPP\u2019s research showed that 66% of UK gift givers are considering sustainability this holiday season, 72% would consider giving second hand gifts, and 23% said they planned to buy second-hand gifts as they were more environmentally friendly. It\u2019s not a huge share of the gifting market, but it\u2019s part of a trend that retailers need to consider.<\/p>\n\n\n\n\n\n

But it\u2019s not just about saving the planet, choosing to buy second hand is seen as more meaningful. Because second hand is more difficult to purchase (no quick look at the ASOS gift list on 23rd<\/sup> December \u2013 guilty as charged!), there\u2019s a sense of being more thoughtful. According to Oxfam<\/a>, 74% of UK adults viewed \u2018meaningful gifts\u2019 (that are not costly) as best. And 67% of adults<\/a> say that they would be happy to receive a second-hand\u00a0item for Christmas.<\/p>\n\n\n\n\n\n\n\n

This is a trend that\u2019s being driven especially by younger consumers, who are both more interested in sustainability, but also better equipped with knowledge and access to\u00a0the circular economy making them much more likely to participate in this behaviour, as well as less ingrained in the etiquette of gifting.<\/p>\n\n\n\n\n\n\n\n

The old adage, it\u2019s the thought that counts<\/em>, rings true in 2023.<\/p>\n\n\n\n\n

Resale market will surge after poorly chosen Christmas gifts<\/strong><\/h2>\n

Forget the Boxing Day sales, I\u2019ll be straight on Vinted on Boxing Day, hoovering up the bargains. The circular economy revolution has reached peak noise this season, not only is it good for the environment, it\u2019s been described to me as \u2018shopping crack.\u2019 Its algorithms are up there with Tik Tok, and one colleague is having her packages delivered to pick up boxes rather than home, so her husband doesn\u2019t see them.<\/p>\n\n\n\n\n\n

But is it sustainable? Whilst shopping for second-hand fashion on Vinted instead of buying new demonstrated an emissions saving of 1.8 kg<\/a> , 25% of its customers are buying on impulse, so it is fuelling additional purchase, as well as taking them away from retailers (39% of Vinted customers choose the platform to avoid new purchases). And charity shops are losing out \u2013 19% of Vinted customers would have given their unwanted items to charity.<\/p>\n\n\n\n\n

What does this mean to retailers?<\/strong><\/h2>\n

On one hand, it can divert potential new sales as consumers opt for second-hand options. On the other, some retailers are capitalising on the trend by incorporating resale into their business models, either through partnerships or by launching their own resale platforms.<\/p>\n\n\n\n\n\n

But all retailers can leverage these trends in 2024 by:<\/p>\n\n\n\n\n