Published at: 02:02 am - Wednesday February 02 2011
Why is
HONEYMOONFUND’s online wishing well service better than a traditional store gift registry? We are going to present five reasons that examines the behaviour of us as consumers, what we all really want and why this has led to the evolution of the traditional bridal gift registry.
These days, there is no doubt that modern bridal couples should and must have a gift registry. Society began to slowly throw out the “stigma” attached to couples announcing a preference for certain gifts about ten years ago. We all now agree on the huge benefits that a good wedding gift registry can provide for a to-be-wed couple, perhaps because we have all either experienced its benefits ourselves, know someone who has or we simply understand the adverse effects of ‘waste’ on the environment and our homes. However like every thriving growth industry, our traditional gift registry needs are ‘evolving’ and mainly due to two reasons:
- The primary need of the bridal couple is no longer considered as the sole purpose of the wedding gift regisitry, now it is equally important to consider the needs, thoughts and behaviours of everyone, especially “the wedding guests”.
- The primary needs of the bridal couple have also changed as couples are getting married older, more de-facto living, increase in cost of living and even technology.
Whilst our consumer behaviour and therefore demands are changing, we still remain true to what is fundamentally good wedding ethics. Whilst we are an internet, mobile and social network loving society, we are also environmentally conscious, humanitarians, polite and generous people. Where weddings are concerned and as guests we do want to give a gift when we go to a wedding, in fact to not give a gift would be shamely inappropriate. For wedding guests, gift registries take the guess work out of gift giving, saving wedding guests a lot of time, money and more importantly the assurance that the gift will be remembered and treasured by the couple.
So now that is clear, the decision is not “if” a gift registry is required but “which” gift registry should a couple choose. Here are a five reasons we believe that HONEYMOONFUND and cash gift registries are better than a store gift registry.
1) WE KNOW THAT WITH RESPECT, YOU PREFER CASH!
Lets face it, we do prefer cash. It is for this reason that this point tops the list. HONEYMOONFUND offers a way for couples to announce a preference for cash respectfully. Whilst western society is fast evolving from goods to cash gift registries due to economic, employment climate and trends, other cultures in Asia, Europe and Arabia have been cash gifting for centuries. With the world getting “smaller”, it is inevitable that the cultural gap contrasting some gift practises is fast closing in. We are already seeing the rise and rise of cash gift registries in the western society bridal industry as they meet the needs of a choice demanding generation.
Cash provides flexibility and freedom which is even more desired during a couple’s marriage planning period. With so many other decisions that have to be made for the marriage such as wedding planning, honeymoon plannning, after-the-wedding planning, work leave planning and financial planning, couples are now realising the huge benefits that come with deciding on a good “Cash” gift registry as opposed to a store registry.
2) RECOGNISE GIFT VALUE AND REDUCE STRESS
In store registries require couples to choose hundreds of items, at different price points, in several categories and within two hours ( presuming a couples tolerance level for any one store is a maximum of two hours before tiredness kicks in) . Have you ever considered the total value of all the gift items on the list and how much time is spent deviding it up into so called “useful” items?
If on average the total wedding gift registry value is worth $12,000 (120 guests @ $100 each) then a couple is required to choose $12,000 worth of items while at the store, with a fiance who doesn’t like to shop, in a matter of 2 hours and while planning the other details of the wedding! For larger weddings usually in metro areas, this figure can be doubled to $24,000. It’s no wonder that most couples end up stressed from choosing hundreds of items that seemed great, useful and trendy at the time but will eventually become regifted, returned or just sitting in dusty cupboards.
Recognise the value of your potential gifts, consider your time, needs and capabilities, this will help you choose which gift registry is more appropriate to set up. If you think you will get $20,000 worth of gifts and you are currently under-taking a major renovation to make room for a new baby then obviously departmental store goods are not going to make your dreams come true.
3) CASH IS “IN” – WASTE IS “SIN”
Avoid wasting wedding guests’ hard earned money. Allow their generous gifts to work harder for you, after all guests would much prefer to know their money has contributed to something memorable and not easily forgotten because the couple chose an item under pressure.
If the total net value of gifts are between $12,000 to $24,000 then think about “money wastage”. How much of this amount will never provide a benefit to the couple and the couple may not even remember who gave it! Therefore its a waste to couples and guests. In store registries require couples to think under pressure and therefore it is inevitable some gifts will be regifted, returned or unused. What about the net value of wasted gifts? Is it 10%, 25% or even 50% of the total gift value ? This is a significant amount that could have been better spent when you were less stressed, had more time and in a better position to make “good” decisions.
4) REDUCE GUESSING PAINS
When has anyone had to choose between $12,000 to $24,000 worth of goods for the home in less than two hours? Probably never unless you were setting up a store gift registry. Some people may argue that a couple would already know what is needed in the home and that a list can be made prior however its not as simple as this. Here a few points that we believe store registries require couples to make a lot of stressful ”guesses”.
- Acceptance Guessing: Most Couples end up trying to balance what they really want with what is deemed as an “appropriate gift” that guests will accept. Is a $1,000 couch more appropriate than a $5,000 couch and why?
- Pressure Guessing: Can you really make the right consumer decisions under pressure? : A list may contain items like a blender, television, dining sets e.t.c but think of how much detail is required to ensure the ’right’ blender or television is chosen, this may be simple for one or two items but if a couple needs to have 200 items chosen on the registry within less than 2 hours, mistakes are going to happen!
- Trend Guessing: Retail stores tend to stock one season’s items at any one time, so a couple will need to guess which items will stand the test of time. There is risk that most items chosen from one season’s stock will date and date fast. What if you really need a television but the later model is coming out in six months time? Should you wait and buy it yourself or settle for the older model?
- Spontaneous Guessing: It is probably true that towards the second half of gift choosing the couples energy and excitement is fading. This is when bad spontaneous decisions are made. What a shame if half of the items on the registry were chosen in haste and not really thought out.
5) CHOICE AND CONTROL – Changes In Consumer Buying Behaviour
We are consumers and so are brides and grooms, these days we can make “informed” buying decisions fairly quickly and easily. Our affection with the internet, mobility devices and social networks have changed the way we buy. More importantly it has changed the way we think when we buy. We want unlimited “Choice” and “Control” when we buy and the traditional store gift registry process is limiting our choice and control. Do we really want a seasonal limited range with less than two hours to choose?
HONEYMOONFUND allows couples the “choice” on what and where to spend and even more desired is the ”control” to spend whenever and at a time that is more suitable and less stressful, such as after the wedding. There is no need to decide how specifically the funds will be spent when an account is created. We encourage couples to let guests have a general idea of what will make dreams come true, for example ” We would really love to raise enough funds to go on an overseas honeymoon” or “We are trying to save some money to furnish our house where we will begin our beautiful married life together”. There is no need for specifics, just let family and friends have the opportunity to contribute to your ”true happiness” in a respecful and convenient way, don’t forget the important thank you cards and remember everyone wants to contribute to a happy marriage and not just items.
Any comments or feedback please contact us admin@honeymoonfund.com.au
Bride-To-Be Magazine’s recent Cost of Love survey revealed that an average Australian wedding costs almost $50,000. Couples, desperate to make their wedding memorable, splurge thousands of dollars on their wedding dress, wedding rings, wedding photography, and wedding reception, and many couples end up with empty pockets. A few canny couples insist on cash gifts, but many newlyweds wake up on the day after their honeymoon to find out that they’ve spent more money than they can afford to repay. Wedding expenses have increased drastically over the years, and Bride-To-Be magazine’s survey exposes a startling fact: brides end up spending more than their annual salary on lavish wedding celebrations! If this is normal then perhaps Australians may need to start examining the potential implications of wedding over spending.
HONEYMOONFUND – Wedding Cash Gift Registry 
