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West Australian
3 days ago
- Business
- West Australian
New report reveals Aussie women are bearing the brunt of rising costs widening the retirement gap
A new report reveals Australian women are bearing the brunt of the nation's cost of living crisis and are sacrificing their own financial futures to keep households afloat. Insights Exchange's Consumer Trends report found women were excessively squeezed by rising living costs and family obligations that were causing stress, worry and anxiety. Researchers surveyed 1474 Australians finding women were 21 per cent less confident than men about their retirement, with only 27 per cent feeling positive about their financial future. More than half of the women surveyed said their ability to meet household expenses had worsened over the past year. The report found 43 per cent of Australians supported dependent children and ageing parents but women carried most of the responsibility. Insights Exchange chief executive officer Nichola Quail said when women were meant to be most financially stable, they were caught between caregiving and rising costs leaving little room to think beyond the next bill. 'It is a national issue hiding in plain sight,' she said. 'It's not just stressful; it's unsustainable.' One female respondent aged 56 said she could not see herself surviving until retirement. 'I don't eat to ensure I pay my rent. My electricity is about to be disconnected,' she said in the report. One woman aged 57 said the cost of living crisis had left her with a general feeling of hopelessness. While another women aged 38 said being able to afford to live a comfortable life without working insane hours was a big struggle that would only get worse. 'Female caregivers experience heightened financial vulnerability and workplace anxiety while navigating complex social connections,' the report stated. 'These patterns suggest women are carrying a heavier psychological burden, potentially exacerbated by financial stressors and societal responsibilities.'
Perth Now
3 days ago
- Business
- Perth Now
New report reveals Aussie women are bearing the brunt of rising costs widening the retirement gap
A new report reveals Australian women are bearing the brunt of the nation's cost of living crisis and are sacrificing their own financial futures to keep households afloat. Insights Exchange's Consumer Trends report found women were excessively squeezed by rising living costs and family obligations that were causing stress, worry and anxiety. Researchers surveyed 1474 Australians finding women were 21 per cent less confident than men about their retirement, with only 27 per cent feeling positive about their financial future. More than half of the women surveyed said their ability to meet household expenses had worsened over the past year. Camera Icon Insights Exchange chief executive officer Nichola Quail said women were caught between caregiving and rising costs leaving little room to think beyond the next bill. Supplied Credit: Supplied The report found 43 per cent of Australians supported dependent children and ageing parents but women carried most of the responsibility. Insights Exchange chief executive officer Nichola Quail said when women were meant to be most financially stable, they were caught between caregiving and rising costs leaving little room to think beyond the next bill. 'It is a national issue hiding in plain sight,' she said. 'It's not just stressful; it's unsustainable.' Camera Icon New research reveals Australian women are 21 per cent less confident than men about their retirement with only 27 per cent feeling assured about their financial future. NewsWire / John Gass Credit: News Corp Australia One female respondent aged 56 said she could not see herself surviving until retirement. 'I don't eat to ensure I pay my rent. My electricity is about to be disconnected,' she said in the report. One woman aged 57 said the cost of living crisis had left her with a general feeling of hopelessness. While another women aged 38 said being able to afford to live a comfortable life without working insane hours was a big struggle that would only get worse. 'Female caregivers experience heightened financial vulnerability and workplace anxiety while navigating complex social connections,' the report stated. 'These patterns suggest women are carrying a heavier psychological burden, potentially exacerbated by financial stressors and societal responsibilities.'
Yahoo
5 days ago
- Business
- Yahoo
Experience Gift Market Outlook & Forecasts Report 2024-2029, Competitive Analysis of Prominent Players - Virgin, Moonpig, Cloud 9 Living, RedBalloon, Tinggly, Smartbox, Experience Days, & Gifting Owl
Global Experience Gift Market Soars, Valued at USD 118.17 Billion in 2023 and Projected to Surge to USD 171.52 Billion by 2029 at a CAGR of 6.41%. Technological innovations, including mobile apps and VR previews, are pivotal in transforming consumer interactions and driving growth. Notable players like Moonpig, Virgin Experience Days, and Red Letter Days are expanding their offerings, with a focus on sustainable and personalized experiences. Europe leads the market, while APAC sees rapid growth. Trends indicate a growing preference for experiential over material gifts. Experience Gift Market Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "Experience Gift Market - Outlook & Forecast 2024-2029" report has been added to Experience Gift Market was valued at USD 118.17 Billion in 2023, and is projected to reach USD 171.52 Billion by 2029, rising at a CAGR of 6.41%. The global experience gifting market is characterized by a diverse range of players, from small niche providers to large online platforms. The market features moderate entry barriers, encouraging new entrants to explore innovative experiences and differentiate themselves. The key players in the global experience gifting market include Virgin Experience Days, Moonpig Group, Cloud 9 Living, RedBalloon, Tinggly, Smartbox Group, Experience Days, and Gifting Owl. Key players are focusing on expanding their offerings and improving customer engagement through technology integration and personalized experiences. Major players are expected to sustain their growth through strategic partnerships, marketing initiatives, and the introduction of new experience categories. Vendors in the experience gifting industry gain a competitive advantage by providing unique and diverse offerings that cater to consumer preferences. Companies like Virgin Experience Days and RedBalloon have established strong brand recognition and customer loyalty through their varied experiences and excellent customer service. Furthermore, investments in the global experience gifting market are driven by increasing consumer demand for unique and memorable gifts. Companies are focusing on technological advancements, including online platforms and mobile applications, to enhance the customer global experience gifting market is experiencing growth across various regions, driven by varying consumer preferences and economic factors. Europe and North America are currently leading markets due to their established culture of gifting experiences, particularly during holidays and special occasions. In 2023, Europe dominated the global experience gifting market, accounting for a global revenue share of over 39%. Several demand-driving factors contribute to the expansion of the market in Europe. One significant driver is the shifting consumer behavior towards valuing experiences over material possessions. As consumers increasingly seek out gifts that create lasting memories, the market for experience gifts continues to thrive. Additionally, the impact of seasonal events and holidays on the market is significant. In many European countries, holidays such as Christmas, Valentine's Day, and anniversaries drive increased demand for experience APAC region is witnessing rapid growth in the global experience gifting market, fueled by, urbanization and a shift toward experiential consumption among millennials and Gen Z. China and Japan also represent significant markets within the APAC region, though their growth trajectories differ. In China, the experience gifting market is bolstered by a rapidly growing economy and a shift in consumer behavior towards experiences that promote social interaction and personal fulfillment. The increasing acceptance of experiential gifting among Chinese consumers, particularly among millennials, is further enhancing market demand. Meanwhile, Japan's mature market is characterized by a blend of traditional and modern gifting practices. Furthermore, emerging markets are expected to contribute to overall growth as more consumers recognize the value of experience gifts. Adoption of Technology in the Experience Gifting MarketThe adoption of technology in the industry is transforming how consumers discover, book, and enjoy experiences. The integration of online platforms and mobile applications is significantly improving customer engagement within the experience gift market. For example, companies like Cloud 9 Living and Virgin Experience Gifts offer mobile-friendly websites and apps that make browsing, purchasing, and gifting experiences more accessible. These platforms use data analytics to tailor recommendations, ensuring that users receive suggestions that align with their preferences, enhancing customer satisfaction, and driving repeat purchases. Also, virtual reality (VR) and augmented reality (AR) are playing pivotal roles in transforming the pre-purchase experience. Some companies, such as Tinggly, leverage AR to allow users to preview an experience virtually before making a purchase. For instance, consumers can take a virtual tour of a destination, explore the ambiance of a luxury spa, or preview an adventure activity before booking. This interactive element reduces uncertainty and enhances decision-making by providing a more immersive and informative shopping data analytics has empowered companies to offer more personalized recommendations. Platforms can now track consumer behavior, purchase history, and even social media interactions to offer tailored experiences. This trend is particularly evident in platforms like Experience Days and RedBalloon, which leverage data insights to send personalized gift suggestions based on previous choices or trending experiences in specific regions. These technologies ultimately help companies retain customers and increase engagement by aligning offerings more closely with customer TRENDS & DRIVERS Shift to Experiences Over Material GoodsConsumers are increasingly prioritizing experiences over physical items when it comes to gifting. This trend is driven by the perception that experiences create lasting memories, foster relationships, and enhance overall well-being. Events like travel, adventure activities, and unique dining experiences are preferred as gifts, reflecting a broader cultural shift toward valuing experiential over material wealth. Furthermore, the intersection of this shift with the experience gifting market presents a lucrative opportunity. Experience gifts, whether for milestone celebrations or corporate gifting, are becoming popular choices because they allow people to share memorable moments with loved ones. They also reflect the broader societal move toward sustainability, as people become more conscious of the environmental impact of material goods. This transformation is not just a passing trend but a fundamental change in how consumers perceive value, blending seamlessly with the growth of the experience gifting Outlook of Digitalization and Online ShoppingGift-giving has transformed eCommerce, with the ability to purchase and deliver gifts online significantly boosting sales potential. As consumers increasingly turn to online shopping, this practice has created a lucrative opportunity for businesses to enhance their market presence. In the ever-evolving eCommerce landscape, understanding and leveraging gifting strategies can lead to increased brand awareness and customer acquisition, benefiting both businesses and consumers alike. Furthermore, one of the driving forces behind the success of gifting in eCommerce is the emotional connection it fosters. Personalization is crucial; consumers are drawn to platforms that allow them to tailor gifts to their recipients. This could involve selecting specific items based on personal interests or creating customized gift bundles. By enhancing the personalization aspect of gifting, businesses can improve customer satisfaction and retention, making the shopping experience more RESTRAINTS Cyber FraudWith the rapid rise of e-commerce in the experience gifting market, the risk of cyber fraud has also escalated, posing a significant industry restraint. As more consumers turn to online platforms for purchasing gifts, including high-value experiences like travel and adventure activities, the threat of data breaches, identity theft, and fraudulent transactions becomes more prevalent. These security vulnerabilities can erode consumer confidence in digital platforms, potentially deterring purchases despite the convenience and variety offered by online shopping. KEY QUESTIONS ANSWERED How big is the global experience gifting market? What is the growth rate of the global experience gifting market? Which region dominates the global experience gifting market share? What are the significant trends in the experience gifting industry? Who are the key players in the global experience gifting market? Key Attributes: Report Attribute Details No. of Pages 254 Forecast Period 2023 - 2029 Estimated Market Value (USD) in 2023 $118.17 Billion Forecasted Market Value (USD) by 2029 $171.52 Billion Compound Annual Growth Rate 6.4% Regions Covered Global Key Development in the Global Experience Gifting Market: Companies are using apps and online platforms to offer personalized gift and card recommendations, making it easier for customers to choose items based on their preferences. Moonpig has formed partnerships with brands like The Entertainer, Early Learning Centre, and Hotel Chocolat, expanding its gifting range and offering more product options for customers in 2024. Red Letter Days has introduced a Sustainable Experiences Collection to meet the increasing demand for eco-friendly gifting options. Premium Insights Opportunity Pockets Market Maturity Indicator Regional Insights Market Overview Market Dynamics Market Trends Market Enablers Market Restraints Segment Analysis Insights by Experience Type Regional Analysis Competitive Landscape Experience Gifting Industry Experience Gifting Industry: Key Insights Experience Gifting Industry Workforce: Key Insights Employment Regulations in the Global Experience Gifting Market Competitive Scenario Investments in the Experience Gifting Industry Adoption of Technology in the Experience Gifting Industry Market Opportunities & Trends Shift to Experiences Over Material Goods Rising Digital Integration Collaboration Between Companies to Promote Gifting Market Growth Enablers Increased Focus on Sustainability Growing Outlook of Digitalization and Online Shopping Growing Use of Corporate Gifting Market Restraints Prepaid Gift Card Licensing Challenges High Costs of Experience Gifts Cyber Fraud Key Company Profiles Moonpig Group Virgin Experience Red Letter Days Other Prominent Vendors Activity Superstore Adrenaline, Inc. Bigbox Breakaway Experiences Buyagift Cobone DesignMyNight Dreamdays Epic Experiences Experience Oz FNP GetYourGuide Giftano Gifting Owl Golden Moments Great American Days Great Little Breaks Groupon, Inc. Into the Blue Activity Gift Vouchers Ltd. KKday Klook Prezzybox RedBalloon Tinggly Viator, Inc. Wonderbox Xoxoday Segmentation By Type Food & Drinks Adventures Spa & Beauty Driving Travel & Stay Others Segmentation By Purchasing Channel Corporate Gifting Individuals For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Experience Gift Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
