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It's the Thought that Counts… No Really, It is

My inbox filled up with all kinds of interesting items on retailing while I was on my Christmas and New Year's holidays. The first piece that caught my eye was an article called "Re-Gifting to Re-Homing," which came my way via the very good email newsletter from www.retailwire.com. Written by Bernice Hurst, managing director of the Fine Food Network, the article described how close to a million items were listed on eBay between December 26th and 30th. Here's part of what she wrote:

New listings rose by about a third after the company [eBay] introduced a discounted rate in the UK of 10p, giving the original recipient not only a chance to make someone happy but also the wherewithal to purchase something they themselves wanted.
An estimated £1.2bn was spent on unwanted gifts in Britain this Christmas with hundreds appearing for sale on the Internet within 24 hours. The average cost of the "turkeys under the tree," as The Guardian said they have been dubbed, is £20 a person, according to a survey by YouGov for eBay, the auction site.
Richard Kanareck, spokesman for eBay.co.uk, was quoted as saying, "Whether it's the wrong size, you have it already or it's just not for you, re-homing a present means it will find a new owner who will really appreciate it."
Some unopened gifts were hyped with assertions that the givers were likely to have spent generously, according to The Times. As one seller said, "this is a pot luck lucky dip. I do not have poor friends so the gifts should be good." Another rejected something from his father, saying that knowing him, "it will not have been cheap." Yet another seller said an easy-to-knit scarf kit was "a lovely idea [but] I cannot knit and really don't have time to learn." And a father was selling a mobile telephone given to his son that was just "too complicated."?
Re-homing means that unwanted, unloved gifts become wanted and appreciated. Friends and relatives can stop dreading re-gifts and both original and new recipients can enjoy the gift giver's largesse. Happy ending or what?

The article is followed by a discussion of how the opportunity to re-gift online changes the holiday for consumers and retailers, and whether the number of returns to retailers have been reduced. What's your experience this holiday season? Are returns up or down?

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This page contains a single entry from the blog posted on January 10, 2008 2:55 PM.

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