Consumers in 2020 are living in a paradox- they are told to be mindful but to buy from all new brands, they are told to manage their finances but advised to pay more for ‘quality’. They are told to only buy what they need, yet every clothing and jewelry brand has multiple new collections a year. We are living in an age that has normalized hyperconsumerism and trimmed it aesthetically to disguise it as minimalism. A person who earlier bought 10 things from one brand now buys 2 things each from 5 different brands but feels much better. But where does that lead us? If shopping and buying a gift for our loved ones around the year wasn’t harrowing enough. December is the absolute worst.
Yes, it is the time to get together and celebrate, but the emphasis on gifting during Christmas reaches a new high. And when it comes to Christmas and New Year’s Eve, people want to go all out with their gifts, regardless of what their bank balance has to say! And some just like to be extravagant, to the extent of even buying them luxury cars as gifts!
Luxury cars as gifts: Even Santa can’t match up to this!
While it may seem farfetched, it’s true; it’s an idea that advertising has been trying to lure us into all this time. In 2018, the New York Times stated that for 3 years and counting, December had been the biggest sales month for Mercedes, BMW, Lincoln, and Lexus. It was also one of the biggest months for Jaguar and Cadillac. While many of these purchases are regular ones, many are holiday gifts too! The most common buyers are men purchasing vehicles for their partners or kids.
Buying a luxury car for yourself is surely a great idea, but buying it as a gift for someone? Not so much, As surprising as it sounds, Kit Yarrow, the author of Decoding the New Consumer Mind confirmed it. “ I interview consumers every holiday season, about what’s the best gift and what’s the worst gift they’ve been given. I’ve had 2 people who say they got a car for Christmas and it was the worst gift they’ve ever been given!
This may surprise many but if you think of it, a car as a gift isn’t really ideal. Typically, people like to be involved in the choice and purchase of cars. Additionally, if the car is going to be used by the entire family, it isn’t a gift. In fact, it ends up being a purchase that you have to maintain for years to come! Amidst a significant economic downturn, you may want to top up last year’s gift with an expensive purchase. But it makes little or no sense to spend a fortune on a luxury car as a gift, in 2020.
Christmas 2020: To Gift or Not to Gift?
Trust us, the point of this piece is not to dissuade you from buying gifts. Gifting your loved one is a love language in itself, but you must remain mindful in the truest sense. And when uncertainty looms over you, it is best to tread carefully.
If you wish to gift your loved ones the experience of luxury, you don’t need to spend a fortune. Get that mindfulness muscle to work and take your loved ones for a drive in a luxury car that you can rent for a day.
Remember, the car stays with you for a day, but the experience lingers, forever.