Help Clients Achieve Holiday Gift Efficiency

December 8th, 2009 • Posted by Spa Kat • Permalink

sbblogpreventholidayinefficiency.jpgSpaBoom believes in the intrinsic value of giving 'instant' spa for the holidays. SpaBoom’s technology provides spas with the capacity to sell services online in the form of Instant Gift Certificates. They are easy to give, incredibly efficient and retain their value over time.

A recent NPR Planet Money podcast about the inefficiencies of gift giving left us feeling like we were truly understood. It is a short podcast that is interesting and encourages us to pause and think before we give gifts this season.

Economist Joel Waldfogel says giving gifts people don't want isn't just bad for the recipients, it's bad for the economy. According to his research, billions of dollars are wasted each year because of holiday shopping. A professor at Wharton, he has spent years surveying his students about the value of gifts they have received. Based on those surveys, Waldfogel says the spending others do for us produces about 20 percent less satisfaction than the spending we do for ourselves.

Despite the title of his book, Scroogenomics: Why You Shouldn't Buy Presents For The Holidays, Waldfogel says he doesn't want to end gift giving, in fact he enjoys it. He says he just wants us to think harder about who we are buying for and maybe choose a gift card over that reindeer sweater.

NPR Planet Money podcast is titled The Most Wasteful Time of Year.…

Listen to the podcast.

Every holiday we make purchases for those we love. Very often, we don’t pick the right gift and its value in the recipient’s mind is lower than its purchase price.

Here are some gift giving insights that I gleaned from listening:

  • Take care when purchasing a holiday gift. Most gifts don’t hold up their value once they are given.
  • The more you know someone the more likely it is that you will give him or her something they want. It is a no brainer, but we give gifts to people we hardly know all the time.
  • Know exactly what the recipient wants or give them a gift certificate.
  • Give them something they can choose at a store they enjoy.
  • Make sure the gift is joyous and delightful to give.
  • Be informed about the items you are giving.
  • Never talk about bad gifts you have received.
  • Give the gift of charity; it retains its value to both parties.
  • Don’t look at gift giving as an obligation; it is a true luxury to give.

2 Responses...

  1. Janet says:

    Why is this relevant to my spa business? This is the weirdest blog post ever. The thing about charity was a good idea. But really, to post something that talks about giving something people don't want… huh? Everyone loves a spa gift. Sorry, I might be biased but it's an envious gift! We are trying very hard to pull this season off. Please give us encouraging posts. –J.

  2. Hi Janet. This is relevant to your spa business because you offer Instant Gift Certificates, gifts that always fit, and give the recipient a unique and personal gift they are sure to remember, unlike, say, the reindeer sweater!

    We try to provide a mix of general business management topics as well as spa-specific, so if this one doesn't resonate perfectly for you, please stand by and we'll offer up more ideas!

    As always, thanks for your comment!

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