Gift Retailing Market Trends and Forecast
The future of the global gift retailing market looks promising with opportunities in the online retail and offline retail markets. The global gift retailing market is expected to reach an estimated $17.4 billion by 2030 with a CAGR of 4.0% from 2024 to 2030. The major drivers for this market are growing demand for personalized and customized gifts and increasing online shopping popularity and convenience.
• Lucintel forecasts that souvenir & novelty is expected to witness the highest growth over the forecast period.
• Within this market, online retail is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: The gifts retailing market in the United States is experiencing significant growth driven by various factors. Etsy, a major player in the personalized gifts sector, launched a generative AI-powered feature called "Gift Mode" in January 2024 to enhance the personalization experience for its customers. This innovation aims to provide unique gift ideas based on individual preferences. Additionally, the market is benefiting from the increasing popularity of online shopping, with platforms like Amazon and specialized e-retailers gaining traction due to their extensive product offerings and customization options.
India: In India, the gifts retailing market is expanding rapidly, influenced by cultural and festival-driven demand. Hershey India introduced personalized gift packs for Raksha Bandhan in August 2023, tapping into the growing trend of personalized and festive gifts. Furthermore, online retailers like Dudu’s Online have launched customizable Diwali gifts, catering to the high demand during major festivals. These initiatives highlight the importance of seasonal and personalized gifts in the Indian market, supported by a rising middle class and increasing disposable income.
China: ChinaÄX%$%Xs gifts retailing market is growing robustly, driven by economic growth and the expanding middle class. The market is characterized by a strong preference for online shopping and personalized gifts. Major e-commerce platforms like Alibaba are pivotal in this growth, offering a wide range of gift products and customization options. Additionally, the Chinese market sees significant sales during cultural festivals such as Chinese New Year and Mid-Autumn Festival, where gifting is a traditional practice.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Gift Retailing by Segment
The study includes a forecast for the global gift retailing by type, application, and region.
Gift Retailing Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Souvenir & Novelty
• Seasonal Decoration
• Greeting Card
• Giftware
• Others
Gift Retailing Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Online Retail
• Offline Retail
• Others
Gift Retailing Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Gift Retailing Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies gift retailing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the gift retailing companies profiled in this report include-
• Card Factory
• Disney
• Hallmark Licensing
• Spencer Gifts
• American Greetings
Recent Development in the Gift Retailing Market
Etsy: Etsy is leading the way in the personalized gifts market with its innovative use of technology. In January 2024, Etsy launched "Gift Mode," a generative AI-powered feature designed to offer personalized gift ideas tailored to individual preferences. This initiative aims to enhance the shopping experience by providing unique and thoughtful gift suggestions, leveraging AI to analyze user data and preferences. This move is expected to drive further growth in EtsyÄX%$%Xs personalized gift segment, which already a significant part of its business model.
Shutterfly: Shutterfly, a major player in the personalized photo gifts market, has been expanding its product offerings and improving its customization tools. Recently, Shutterfly announced new enhancements to its user interface, making it easier for customers to create custom photo books, cards, and gifts. The company is also investing in advanced printing technologies to improve the quality and turnaround time of its products. These developments are part of Shutterfly’s broader strategy to maintain its leadership in the personalized gifts market by continuously improving customer experience and product quality.
Moonpig: Moonpig, a UK-based online retailer known for its personalized greeting cards and gifts, has been expanding its product range and technological capabilities. In 2023, Moonpig announced the acquisition of Greetz, a Dutch online card and gift retailer, to strengthen its presence in Europe. Additionally, Moonpig has been integrating augmented reality (AR) features into its app, allowing customers to preview personalized products in real-time. These initiatives aim to enhance customer engagement and expand Moonpig’s market share in the European gifts retailing market.
Personalization Mall: Personalization Mall, a U.S.-based company specializing in personalized gifts, has been focusing on expanding its product offerings and enhancing its e-commerce platform. In 2023, the company introduced a new line of eco-friendly personalized gifts, catering to the growing consumer demand for sustainable products. Personalization Mall is also improving its logistics and supply chain operations to reduce delivery times and increase customer satisfaction. These efforts are part of the company’s strategy to stay competitive in the rapidly growing personalized gifts market.
Features of the Global Gift Retailing Market
Market Size Estimates: Gift retailing market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Gift retailing market size by type, application, and region in terms of value ($B).
Regional Analysis: Gift retailing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the gift retailing market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the gift retailing market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the gift retailing market size?
Answer: The global gift retailing market is expected to reach an estimated $17.4 billion by 2030.
Q2. What is the growth forecast for gift retailing market?
Answer: The global gift retailing market is expected to grow with a CAGR of 4.0% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the gift retailing market?
Answer: The major drivers for this market are growing demand for personalized and customized gifts and increasing online shopping popularity and convenience.
Q4. What are the major segments for gift retailing market?
Answer: The future of the gift retailing market looks promising with opportunities in the online retail and offline retail markets.
Q5. Who are the key gift retailing market companies?
Answer: Some of the key gift retailing companies are as follows:
• Card Factory
• Disney
• Hallmark Licensing
• Spencer Gifts
• American Greetings
Q6. Which gift retailing market segment will be the largest in future?
Answer: Lucintel forecasts that souvenir & novelty is expected to witness the highest growth over the forecast period.
Q7. In gift retailing market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the gift retailing market by type (souvenir & novelty, seasonal decoration, greeting card, giftware, and others), application (online retail, offline retail, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Gift Retailing Market Market, Gift Retailing Market Market Size, Gift Retailing Market Market Growth, Gift Retailing Market Market Analysis, Gift Retailing Market Market Report, Gift Retailing Market Market Share, Gift Retailing Market Market Trends, Gift Retailing Market Market Forecast, Gift Retailing Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.