- This means New Jersey’s re-gifting economy is worth a staggering $289 million.
- High cost of living cited as the main reason to sell gifts received.
- Infographic included.
the staff of the Ridgewood blog
Ridgewood NJ, one of the best things about Christmas, especially when you’re a child, is receiving gifts. Particularly when you’ve carefully crafted a list for Santa beforehand, detailing exactly what you would want! Now, Santa doesn’t always deliver to the letter, but by and large, you grow up getting what you asked for. However, that doesn’t always happen, and it’s more and more likely the older you get. Even if the gifter means well, the end result can be the desire to give it away to someone else, as soon as possible (or — if it’s worth a dollar or three — to sell it instead). Indeed, even if inflation has cooled recently, prices have remained stubbornly high in 2024, offering the average American a financial incentive to regift or resell an unwanted gift — known as the ‘regifting economy.’
