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Research indicates that people value plastic crap Christmas gifts a lot less than you think. Joel Waldfogel explains this valuation concept in his new book Scroogenomics.
Waldfogel said we spend about $65 billion per year on holiday gifts. It turns out that “people value stuff that they’ve received as gifts 20 percent less per dollar spent than stuff they buy for themselves. So multiplying that 20 percent times that $65 billion gets to you about $12 or $13 billion a year in destroyed value, or missing satisfaction in the U.S.”
Rather than participating in the hyper-consumption of holiday madness, why not do something simple for the holidays?
Rethink the idea of giving. Instead of buying stuff for people, consider these concepts…
I am super excited about this post! As a nonprofit worker I really value any extra money or time donated at this time of the year. It is definitely also great when I receive these types of things as a gift.
It's important to remember what the giving part is all about.. and what people really want :)
I suppose I should be somewhat flattered, but no matter how much I tell people not to waste their money buying me some lame gift I do not need, I get a pile of crap I have to find how to recycle every year.
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@James - That is so frustrating. We have a few folks like that in our family and end up donating a lot of the stuff they give us. It makes me sad. I rather see the money go toward my nieces and nephews college fun.
@Beth - Thanks! I'm glad you liked the post. :)
While I do not disagree, I think it is also important that support local craftspeople. Now, I do not have any sort of research data to support this argument, but I know that generally people enjoy receiving gifts made by craftspeople. Additionally, many people may not be handy at knitting, have the time to make wine(it is labor intensive), know how to bake(you should support your local bakery,not the grocery store variety), etc. Also, depending on the craft, the craftsperson may actually help out at a charity in their spare time. For example this local stained-glass window maker trains people to make stained glass windows at this East-end nonprofit in Pittsburgh. There are also many other local craftspeople across the nation that help keep certain crafts and trades alive through after school programs.
Many of them would not be able to do so if people did not buy items from them.
I am not saying not to volunteer, you should volunteer.
My point, is that if someone does indeed buy something, it should support the local craftspeople. Another alternative would be to buy something from Novica or some place similar. Novica helps people in poor regions by teaching them a craft and paying them livable compensation.
Bottom line, do buy not plastic junk, but by stuff that has real value, something that someone would appreciate. Oh, and if you do buy, buy within your means.
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