Why people are buying gift voucher experiences now more than ever

As the experience economy continues to grow year-on-year, gift vouchers for experiences are more popular than ever. Studies show that nearly half of people would rather receive an experience gift than a tangible item. But the big question is, why?

Item fatigue 

Look in your wardrobe, your cupboards, that one kitchen drawer crammed full of things you never use…there’s no denying that we all have plenty of stuff. A survey revealed that the average UK household has £418 worth of clothes, electronics, furniture and appliances sitting around unused, with 29% of people having bought something in the last year that hasn’t been used at all. Unwanted gifts add to this pile; a poll found 63% of people receive up to seven presents each year that they’ll never use. It can begin to feel like we can’t escape the endless amount of items accumulating in our lives and homes.

This feeling is perhaps why UK customers were predicted to spend £140bn on leisure activities in 2022. The craving to do things, rather than have things, is applying to our gifting habits too. 

Seeking joy 

Gift vouchers for experiences offer a joy for the recipient that’s unparalleled by a physical gift.A 20-year study analysed how product purchases make us feel when compared to experience purchases, and found that purchasing trips or other experiences leads to greater happiness than buying a tangible possession. Gift vouchers for experiences are the opportunity to give a little more joy.

Ease 

Gift vouchers also take the burden off a gift-giver, providing a thoughtful but easy way to show someone you care. And when you can buy that gift voucher online, it’s even easier. Digital gift card sales grew by 17.4% in 2022, and the number of leisure and experience gift cards purchased also increased. Online vouchers for experiences truly are a match made in gift voucher heaven.

Start offering gift vouchers with Regalo 

Don’t miss out on this growing opportunity. Our easy-to-use gift voucher platform designed for hospitality and leisure businesses helps you increase your revenue and attract more customers. Get in touch today.