Black Friday 2019: 38% of Brits say budgeting for experiences and travel is now a top priority

As we prepare to say goodbye to 2019 and the end of yet another decade, many of us will be reflecting on the best memories that we have made and the greatest experiences of the past few years. It seems that we are now more concerned about making memories than materialistic possessions – StoryTerrace research reveals that 38% of Brits now say budgeting for travel and experiences is a top priority. As the chair of one national retailer recently reported that 2019 would be “the worst Christmas since Woolworths collapsed” back in 2008 whilst footfall in stores has fallen by 10% in the last seven years.

As Black Friday approaches, it seems that less and less people are concerned about rushing to buy materialistic goods and products and the most up-to-date gadgets. In light of this, of StoryTerrace – a company that documents the life stories of everyday individuals – has conducted nationally representative research revealing how we now value memories over material:

A study conducted from a sample of over 2,000 UK adults reveals that:

  • 26% of British people, representing 13,336,989 people, seek out excursions and experiences more than ever
    • This statistic increases to 39% of those aged 18-34
  • 52% of Brits, or 26,518,596 people, believe that the experiences lived are essential to their health and wellbeing than buying materialistic products
  • 38% of Brits, or 18,697,682 of the population, say budgeting for experiences and travel is a top priority
    • 50% of those aged 18-34

It seems that people now value experiences and making memories over buying the latest iPhone, coffee machine, or game console. Rutger Bruining, the CEO of StoryTerrace; a company which documents the life stories of every-day people with professional writers; knows this better than anybody.
Rutger provides his insight into how important it is to preserve and document our experiences, and the ones of our family members:

“As Black Friday, the holiday season, and the end of the year approaches, the rush to buy materialistic goods no longer seems to be at the forefront of people’s minds. Our research has shown that as a nation, we value making experiences and memories with our loved ones more than ever before. We believe that it is vital that we preserve these memories as it can strengthen family bonds and ensure that we are always able to share these memories, even with future generations. At StoryTerrace, we know that if you ask the right questions, every individual has an interesting story to tell and we understand how important it is for those involved to remember these stories. Documenting the lives of family members can help keep experiences and memories alive, and bring people closer together.”