Social gifting is on the rise

Thinking about giving a gift this year? Watch out – it should come as no surprise that while the amount you’re likely willing to spend is about the same as ever, the cost of things people actually want continues to rise. Gone are the days when the most popular gifts were $20 – $30. These days, you could be shelling out almost $600 to get them that Samsung Galaxy S3 that they want! In fact, in 2012 the most popular gifts all clocked in at over $100 and included things like smartphones, tablets, e-readers, MP3 players and head phones – a far cry from the $5.95 Teenage Mutant Ninja Turtle action figures of yesteryear. So what’s a generous but cash-conscious giver to do? The solution may lie in social gifting. With social gifting, a person shares their wishlist via various social media sites such as Facebook and Pintrest. When their friends see it, they can decide how much they’d like to contribute to a gift from that wishlist. Once it’s fully paid for, the gift is shipped straight to their door – no going to the store, no begging friends and family, no worrying about shipping – just unmitigated modern convenience. The question now is, can social media sites capitalize off this concept? Check out the infographic below presented by Countmein to learn more about social gifting and how it works.