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Commentary: The price of love – why millennials and Gen Zs are running up major dating debt

In a dating context, a person boasting about the purchase of an expensive wine on a dinner date, for example, may over-estimate whether it will actually impress their date.

Gift-givers often believe that more expensive gifts are more appreciated, assuming they convey greater thoughtfulness. But gift recipients don’t necessarily share this belief because they don’t consistently link gift price to their level of appreciation.

This suggests that gift-givers may not accurately predict what gifts will be meaningful to others. And because they personally may connect expensive gifts with something meaningful, it may lead them to spend more, ultimately contributing to greater dating debt.

Interestingly, while it’s known that people use luxury items to signal their social status and earning capacity, the reactions to such gifts may be complex. Indeed, many people prioritise their independence and question the giver’s motives behind such gifts, fearing power imbalances and expectations.

Instead, they may value personal connections over materialistic displays and be cautious in the early stages of a relationship.

Ultimately, open and honest communication about expectations is crucial for navigating these complexities, ensuring that gift-giving aligns with the relationship’s goals and mutual desires.

The concept of luxury often gets mixed up with our quest for love, creating a captivating but misleading link between the two. In the realm of romantic relationships, luxury goods or indulging in extravagant experiences can sometimes make us feel closer to our partners than we really are.

But the ties between luxury and love can be deceiving. While luxury can certainly add to the romance, it’s important for younger generations to see the difference between flashy things and the deep, lasting connections that bring us closer to love.

Omar H Fares is Lecturer and Seung Hwan Lee is Professor and Associate Dean of Engagement & Inclusion at Ted Rogers School of Retail Management, Toronto Metropolitan University. This commentary first appeared on The Conversation.

Source: CNA

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