No One Wants a Gravy Boat: Millennials and the New Wedding Gift Norms

It only makes sense that with a generation that not only move in with one another but often even buy a house together before getting married, registering for products to fill their newlywed home doesn’t really make much sense. In just the last few years, new trends in non-traditional wedding registries that have nothing to do with gravy boats and toasters have become the new norm for many Millennials heading down the aisle. As with so many things, their rethinking of tradition involves doing away with unnecessary goods and embracing experiences as valued currency instead. The most popular wedding registry gift categories for 2013 were all about getting out and making big dreams come true. With Millennials aging up and millions getting married each year, new and innovative registries are a big opportunity for whole new categories of brands and businesses. Here are some of the new norms for wedding gift giving:

 

The Honeymooners: With many Millennials getting married at older ages, there are also more newlyweds who have helped foot the bill for their nuptials, and 50% of couples expect that they’ll be paying for the wedding themselves. Between the expense of the wedding itself and the many other bills that Millennials are dealing with, a honeymoon can start to seem like a pipe dream. To solve the problem, registries like Traveler’s Joy and Honey Fund let young couples ask their guests to help them see the world. Traveler’s Joy lets users create customized gifts to fund pieces of their honeymoon like plane tickets, hotel costs, and fun activities, allowing the gift givers to feel like they have contributed something specific to the experience. Generally, honeymoon registries take a small piece of the amounts given, and then allow the couple to withdraw all the funds contributed in a…

 
 

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Quote of the Day: “My biggest mistake was that in my financial beginnings I did not seek help from an advisor and I did very badly with my investments, but later I was able to recover.”—Male, 33, NY

The Museum of Ice Cream and Sephora are coming together for a sweet collab. Popsicle-shaped lip glosses, sprinkle-filled brushes, and more Instagrammable products are available for a limited time. Collaborations seem to be the MOIC’s latest move to rake in revenue (they also teamed up with Target), and this one makes sense: young consumers are indulging their “treat yo self” moments with makeup, and similar products like Too Faced’s peach and chocolate-themed collections are flying off shelves. (Cosmopolitan)

Sony is debuting their own ode to retro gaming: the PlayStation Classic. Millennial geeks everywhere, rejoice. The tiny console (with mini controllers to match) will include 20 fan favorite games like Final Fantasy VII and Tekken 3. The question isn’t why Sony is doing this, it’s why more companies aren’t doing this after seeing Nintendo’s runaway success with the SNES and NES Classic. Consoles will come to shelves in early December, right in time for the holidays. (TechCrunch)

The next Netflix movie could premiere on IMAX. And It’s not just Netflix: IMAX’s CEO said “all of the streaming” giants are “in active discussions” to bring their movies to the big screen. Streaming services have shaken up Hollywood by premiering big-budget movies with A-list actors on small screens, betting that young viewers prefer their couches to theaters. But while staying in is the new going out for many Millennials, their love of experiences is also bringing back the box office. (THRThe Verge)

Some wealthy Millennials are becoming social justice warriors to make an impact with their extra resources. Members of Resource Generation give 16 times more than they did before joining up, and together they’ve raised $120,000 for an affordable housing organization, donated $135,000 to the Social Justice Fund Northwest, and much more. In our Topline on the topic, 88% of 13-35-year-olds said they think they can make a difference by getting involved. (Business Insider)

Chinese Millennials and Gen Z are turning their attention from livestreaming to short video clips. Douyin, a short video app known as TikTok in the U.S., has over 500 million monthly active users globally. It was even the world’s most-downloaded app for the first half of 2018, according to Sensor Tower, and its rival Kuaishou is racking up users too. Meanwhile, users and stock are dropping for livestreaming platforms—with the exception of esports. (CNBC)

Quote of the Day: “I once spent $30,000 in one year solely on fun things (entertainment, traveling, dining out, etc.).”—Female, 21, PA

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