Why Millennials and Gen Z Drive the Voucher Boom

Gift-giving has always been a way to show connection, thoughtfulness, and care. But what people choose to give, and how they give it, has shifted dramatically in the past decade. For Baby Boomers and Gen X, luxury goods and physical items often topped the list. For Millennials and Gen Z, the priority is different. They’re not chasing things; they’re chasing moments.

 

This shift is more than a lifestyle preference. It’s a cultural reset that’s shaping entire industries, from hospitality to retail, and it’s the single biggest reason behind the voucher boom we’re seeing worldwide. At the heart of it? Two generations that now dominate consumer spending.

Millennials (born 1981–1996) and Gen Z (born 1997–2012) share a unique mindset: they value experiences more than possessions. Research from Eventbrite shows that 78% of Millennials would rather spend money on experiences like concerts, travel, or dining out than on material goods. Gen Z has grown up with social media, where a spa day or weekend getaway doesn’t just create a memory, it creates content.

 

For these demographics, experiences are a way to:

• Connect with others (friends, partners, family).
• Express identity (“I’m the kind of person who values adventure, food, or wellness”).
• Build stories worth sharing both in person and online.

A voucher, whether for a hotel, a fine dining experience, or a spa retreat — becomes the perfect gift. It’s not a thing to own, it’s a moment to live.

Unlike older generations, Millennials and Gen Z live in a digital-first world. Everything they consume — entertainment, transport, shopping, even healthcare — is mobile, instant, and often personalised. Gift-giving has followed the same path.

Paper gift certificates that get lost in a drawer? Outdated. E-vouchers that can be sent instantly to someone’s inbox or phone? Exactly what these generations expect.

 

They want:

• Instant gratification: If they buy a gift voucher at 10pm, they want it delivered immediately.
• Flexibility: They may want to schedule delivery for a birthday, or let the recipient choose the experience later.
• Convenience: The ability to buy, send, and redeem all online without friction.

Here’s where culture and commerce intersect. For Millennials and Gen Z, experiences aren’t just about the moment itself, they’re also about what happens afterwards: the sharing.

 

• A weekend stay at a boutique hotel becomes a series of Instagram stories.
• A rooftop dinner with friends becomes a TikTok reel.
• A spa voucher gifted on Mother’s Day becomes a heartwarming Facebook post.

 

The result? Every voucher redeemed is amplified online, often reaching hundreds or thousands of people. It’s peer-driven marketing at its finest, and it’s part of why vouchers have exploded in popularity among these age groups. The gift isn’t just for the recipient; it becomes part of the giver and receiver’s shared digital identity.

Millennials and Gen Z grew up in an age of on-demand everything, Spotify for music, Netflix for entertainment, Uber for rides. Choice is not a luxury; it’s the baseline expectation.

 

Vouchers fit this psychology perfectly:

• They give the recipient the freedom to choose when and how to enjoy the experience.
• They reduce the risk of disappointment for the giver (no wrong sizes, no wasted gifts).
• They offer a sense of empowerment to the receiver, “I get to decide.”

In a world where younger consumers prioritise autonomy and personalisation, vouchers hit the sweet spot between thoughtfulness and freedom.

The generational shift isn’t just cultural, it’s financial. By 2030, Millennials and Gen Z will make up 75% of the global workforce, controlling the majority of disposable income.

 

They already:

• Spend more on travel, dining, and wellness than previous generations.
• Embrace online purchasing far more than Gen X or Boomers.
• Drive the double-digit growth of digital voucher markets worldwide.

Engaging these generations isn’t about chasing trends; it’s about staying meaningful in a world they increasingly shape.

Vouchers are booming, but the way they’re managed, sold, and delivered makes all the difference. HyperGift was built to align exactly with Millennial and Gen Z expectations.

• Mobile-first storefronts: Branded, custom voucher stores that look and feel premium.
• Instant and flexible delivery: E-vouchers, delayed delivery, or even physical options, all built for convenience.
• Frictionless redemption: QR code scanning, partial redemptions, and instant validation make the process seamless.
• Daily payments: Businesses get revenue instantly, supporting stronger cash flow.
• Data and insights: Real-time dashboards track redemption rates, unused balances, and customer details for smarter marketing.
• Promotions and loyalty features: Coupon codes, loyalty rewards, and VIP gifting campaigns keep younger consumers engaged long-term.

HyperGift doesn’t just give businesses a way to “sell vouchers.” It gives them a way to tap into the most powerful consumer trend of this decade.

For Millennials and Gen Z, vouchers tick every box: thoughtful, flexible, sustainable, and experience driven. For businesses, vouchers provide upfront revenue, increased brand exposure, and often an unexpected bonus: a significant percentage of vouchers go unredeemed, creating an additional profit stream.

Hotels, spas, and restaurants that lean into this boom are positioning themselves for growth, relevance, and stronger customer relationships. Those that ignore it risk losing ground to competitors who are already packaging their experiences in ways these demographics crave.

The rise of the voucher economy isn’t a coincidence. It’s the direct result of two generations rewriting the rules of gifting. They don’t want things; they want moments. They don’t want clutter; they want connection. They don’t want rigid gifts; they want flexibility.

 

Millennials and Gen Z are not just driving the voucher boom, they are the voucher boom. And with HyperGift, businesses can be ready to meet them exactly where they are.

 

In today’s marketplace, relevance isn’t optional. It’s survival. And right now, vouchers are the currency of relevance.

With 20+ years in hospitality of all facets, including F&B, hotels, to a refined focus on hospitality digital marketing.