Gift List Services - UK - May 2009
The market for gift list services is changing. Asking for money used to have a huge social taboo across the majority of British culture, but all that seems to be changing as couples openly ask wedding guests to pledge money instead of gifts to pay for things such as the honeymoon and even in some cases the wedding itself.
Money is the universal gift and obviates the need for a gift list, so this growing acceptability of giving money may sound the death knell for the more formal gift list business. However, the etiquette of asking for and receiving gifts is an emotive subject and there is a range of views on what is acceptable, so for some the gift list will remain the best way to steer through this social minefield.
The wedding is an opportunity for luxury and indulgence, but with consumers cutting back on discretionary spending are there still opportunities to develop and grow gift list services?
With spending under pressure, will more couples be likely to ask guests to pledge money rather than buy particular gifts?
Are there any real opportunities outside of the wedding market, and are there cross-selling opportunities for other goods and services offered by the list operators?
How can providers of gift list services improve the customer experience for couples planning a wedding or other event?
Will the decline in marriages lead to further market contraction?
As overseas marriages become increasingly popular, will gift lists become a thing of the past?
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