The holiday season brings with it the joy of unwrapping presents, but not all gifts are perfect fits. In a recent study conducted by DodoBurd.com, New Mexico's regifting economy is thriving, with 44 percent of New Mexicans admitting to either re-gifting or selling unwanted presents. The study also found that nationally, the festive regifting economy is worth a staggering $17 billion.
The study, which aimed to determine the size of each state's regifting economy during the festive period, discovered that 43 percent of respondents from across the United States admitted to having sold or regifted a present they had received, with an average value of $123 per gift.
California emerged as the leader in this holiday tradition, boasting a $2 billion market for regifting, thanks in part to its large population. In contrast, Delaware had the smallest regifting economy at $17 million.
When considering the percentage of the population engaged in regifting, it was Rhode Island that topped the list, with a remarkable 83 percent of its residents admitting to regifting or selling unwanted presents.
New Mexico's regifting economy also made a significant contribution, amounting to a substantial $115,667,943.
Top 5 Regifting States:
1. Rhode Island: 83 percent 2. Nevada: 59 percent 3. New York: 56 percent
4. Arizona: 54 percent 5. Utah: 53 percent The study delved deeper into people’s regifting habits, revealing that over two-thirds (71 percent) had received a gift they knew they would never use or wear. While 38 percent believed it was morally wrong to sell or regift a present, 62 percent admitted to doing so, with 47 percent expressing some level of regret.
Selling less-than-perfect presents wasn't just for laughs; nearly half of the respondents (49 percent) saw it as a way to add extra funds during the holiday season. However, 44 percent confessed to the holiday faux pas of accidentally regifting a present to its original giver.
Additionally, 50 percent of participants admitted to purchasing gifts for others with the hope that these items would eventually be given back to them.
Grace Healy from DodoBurd.com commented on the findings, saying, 'It's clear that regifting has become a significant part of our holiday traditions. While not every present can find its forever home the first time around, the spirit of giving continues in the form of regifting, which supports both our emotional and economic wellbeing during the holiday season.'