Work schedules don’t always have much sympathy for holiday plans — especially the notoriously grueling hours of the finance industry.
When it comes to carving out time for gifting, some Wall Streeters opt to outsource the task, while others shop at convenient stores close to, or even within, their offices.
“This time of year, time seems to move a little bit faster,” said Elisabeth Brown, the director of US membership at luxury travel and lifestyle concierge company Knightsbridge Circle.
Brown said that gift help is a popular service among members, and that Knightsbridge Circle will suggest, buy, and even deliver items. Members devote time to talking about their preferences, and later to approving purchases, but otherwise pass off the responsibility.
Other finance employees turn to personal shoppers for help. David Thielebuele, the fashion director of ready-to-wear at Bloomingdale’s, said in an email that people turn to personal shoppers for a mix of “convenience and expertise,” especially during the end-of-year crunch. The personal shopping team can refine lists, buy items, and build event wardrobes.
“The real challenge is decision fatigue,” Thielebuele said. Many clients can only devote fragmented chunks of time to gifting, he added, compounding the issue.
For those who do handle the shopping on their own, though, stores near the office can offer an easy solution. Jeremy Balrup, who covers sales and analytics for Bloomberg’s enterprise data business and has worked in finance for around a decade, said he often stops by department stores near his office in Midtown Manhattan to buy gifts. If he’s buying a sweater, he said he’ll visit the J. Press store in Grand Central.
Those who work at Goldman Sachs might not even have to leave the office to pick up gifts. The firm hosts a holiday market in New York, London, and Dallas offices, featuring graduates of its 10,000 Small Businesses program. Around 80 vendors sold their items between the fairs, and Goldman’s global head of corporate engagement, Asahi Pompey, called it “one of the most joyful days on our calendar.”
For some, the holiday commitment goes beyond shopping alongside colleagues.
In a Business Insider survey about Wall Street gifting, about 40% of the respondents who said they work in finance said they were considering buying their colleagues presents. The most popular items to get them were wine or liquor, according to the unscientific survey, and Balrup said that a nice bottle is always a hit in his office’s white elephant game.
Eileen Rizzo, the CEO of Zachys Wine and Liquor, said that her company’s analytics show that people with interests in banking and investment are among the most active audience segments, and that New York is the most active market. Champagne is always hugely popular around the holidays, and Italian and Bordeaux wines are also highly requested, she said. Zachys’ top customers tend to spend around $900 per order.
And when it comes to what Wall Streeters want for themselves? Watches seem to be all the rage.
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