Delaware’s Regifting Economy: A $12 Million Holiday Market
December 24, 2024
Delaware’s Regifting Economy Thrives as Residents Seek Financial Relief During the Holiday Season
A recent survey conducted by BadCredit.org reveals that over 114,000 Delawareans plan to regift or resell their Christmas presents this year, contributing to a $12 million regifting economy in the state. The high cost of living is cited as the primary driver behind this trend, reflecting a growing national shift toward economically savvy holiday practices.
Regifting: A National Perspective
BadCredit.org surveyed 3,000 people to assess the value of the regifting economy across the United States. The findings are striking: the national regifting economy is valued at $11 billion, with 43% of Americans—approximately 110 million people—admitting they plan to regift or sell unwanted presents.
States like California lead the way with a regifting economy worth nearly $1.4 billion. Proportionally, Rhode Island ranks as the top regifting state, with 83% of its residents intending to regift or resell holiday presents.
Christmas Gift Box. Photograph by Saquon Simpson
Delaware’s Contribution to the Regifting Trend
In Delaware, 14% of residents plan to profit from regifting or reselling holiday items this season. With an average gift value of $104.50 per person, Delaware’s regifting economy stands at a robust $12,015,622. Despite its modest population, the state’s participation underscores the financial practicality of regifting in the face of persistent inflation and economic challenges.
The Psychology of Regifting
The survey highlights the emotional complexities of regifting:
•71% of respondents know immediately upon unwrapping a gift that they will never use it.
•38% of Delawareans feel it is morally wrong to regift or sell a present.
•Nearly half have experienced regret or guilt after parting with a gift, especially if it came from a close friend or family member.
•An awkward 48% of respondents nationwide admitted to being caught regifting or reselling an item.
A New Era for Regifting
“Regifting or reselling has become a smart financial strategy for budget-conscious consumers this holiday season,” says Jon McDonald, senior editor at BadCredit.org. “As Americans navigate economic challenges, regifting has shed its previous stigma and gained mainstream acceptance. What was once considered taboo is now a resourceful way to manage holiday expenses while ensuring gifts find appreciative new homes.”
Top 10 States for Regifting
The survey ranked states based on the percentage of residents who regift and the size of their regifting economy. The top 10 states are:
1.Rhode Island (83%; $74,443,219)
2.Nevada (59%; $154,587,138)
3.New York (56%; $886,249,898)
4.Arizona (54%; $324,811,122)
5.Utah (53%; $147,483,264)
6.Louisiana (52%; $192,416,145)
7.Maryland (52%; $259,508,823)
8.Massachusetts (51%; $291,977,877)
9.Wyoming (50%; $23,803,243)
10.Georgia (45%; $407,946,082)
Methodology
BadCredit.org calculated regifting estimates by applying the percentage of respondents planning to regift or resell to the total adult population of each state and multiplying that number by the average gift spend of $104.50 per person.
For more information and an infographic detailing the findings, visit BadCredit.org. Please credit BadCredit.org for all referenced data.