’It’s the thought that counts’ for present buyers
Less is more this Christmas As the holiday season approaches and the last-minute shoppers hit the high street or go online to find the perfect gift, research from a London Business School academic has suggested that less may be more when it comes to Christmas present purchases.
A study co-authored by Dr Gabrielle Adams, Associate Professor of Organisational Behaviour, discovered that although most gift givers assume there to be a correlation between the value of a gift and level of appreciation, the reality is that receivers don’t appreciate expensive gifts that much more.
The study by Dr Adams and co-author Professor Frank Flynn from Stanford University is particularly timely with the gloomy economic forecast impacting the pockets of families around the world.
Commenting on her study, Dr Adams said: "You simply don't have to spend that extra hundred pounds to get the same level of appreciation for a gift."
In the study, participants were asked to think about giving or receiving either a CD or an iPod. Those who were randomly assigned to be “givers” thought by giving the more expensive iPod their present would be appreciated more in contrast to the CD.
The “receivers” rated no difference in appreciation levels, regardless of which item they were told to think about getting.
While Christmas is likely to give retailers a timely boost this year – particularly with online retail sales on the rise – several studies indicate that people often fail to appreciate gifts more, even if they cost a lot of money.
This holiday season bear in mind that it is the thought that counts.