by Dr. Charles Alonzo Peters
With Christmas just days away we’re all rushing to find those special gifts for loved ones. You know the gift that’ll make someone flash a genuine smile, instead of the faint “Why’d this Negro go get me this ugly sweater?” smile.
Behavioral economist Daniel Ariely may have the answer to what makes that perfect gift. In his books Predictably Irrational and The Upside of Irrationality, Ariely has tackled such topics as: why the word “Free” makes us do irrational things, why we make poor decisions when we have more choices, and why we overvalue what we we own.
In a recent NY Times article Ariely provides his insight into the psychology behind the perfect gift. Surprisingly it may come down to guilt.
According to Ariely,
“A good gift is something that someone really wants but feels guilty buying for themselves.”
Makes sense. You pick up a bottle of perfume. It smells wonderful but the $100 price violates your sensibilities. You place it back on the shelf.
The Madden 2011 video game sits there calling your name. Yet deep down you know there is no reason to shell out an extra $55 when you already have Madden 2010 sitting at home.
Yes the guilt eats at you. $100 on a bottle of perfume or $55 for a video game are just too irresponsible. But receiving perfume or a video game as a gift magically relieves the guilt.
The good news is that a great gift doesn’t necessarily have to be expensive. Your aunt loves chocolate but feels guilty about purchasing the $9.95 collection of Lindt chocolates. Your grandma may have always wanted a manicure but always felt guilty about spending money on herself. Think of something a person talks about but never buys, something they’re constantly thinking of purchasing but always put back. Then you’re on the right track.
But what if you don’t have that insight? What about the office worker you don’t know much about or the aunt you don’t talk to often?
Ariely suggests we consider the popularity of gift certificates and gift cards. Gift cards allow the recipient to spend guilt free. We don’t have to rationalize our purchases.
Intuitively, I figure many of us don’t need a behavioral economist to tell us all this. But it does give us comfort that gift cards are not last minute cop-outs, but perhaps the most highly anticipated gifts of the season.
BMWK family, what makes a perfect gift? Do you enjoy receiving or giving gift cards?
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