Holiday Gifts: $10B Down the Drain, Half Disliked

This holiday season, Americans are set to overspend on unwanted gifts, racking up a whopping $10. 1 billion in disappointing presents. That's right, nearly 53% of adults in the US will unwrap at least one gift they don't like. The average cost of these unwanted gifts has risen to $72, up from $66 last year. Imagine all the socks, cheap wine, and other lackluster gifts piling up in closets or ending up in landfills. It's a harsh reality that Americans will spend billions on items that won't bring joy. What do people do with these unwanted gifts? Around 40% regift them, hoping someone else will appreciate them more. About one-third either keep them or return/exchange them. A modest 16% will toss them, and a brave 12% will give them back to the giver. Clothes and accessories top the list of unwanted gifts, with 43% of disappointing presents falling into this category. Household items, cosmetics, and tech gadgets follow closely behind. It's a sad truth that so much money and effort go into gifts that don't hit the mark. Maybe it's time to rethink our gifting strategies and aim for more meaningful presents.