Gift Retailing 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 $17.4 billion by 2030 with a CAGR of 4.0% from 2024 to 2030. The major drivers for this market are growing demand for personalized and customized gifts and increasing online shopping popularity and convenience.
• Lucintel forecasts that souvenir & novelty is expected to witness the highest growth over the forecast period.
• Within this market, online retail is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
A more than 150-page report is developed to help in your business decisions.
Emerging Trends in the Gift Retailing Market
Emerging trends in the gift retailing market are shaping the way consumers shop and interact with gift products.
• E-Commerce Growth: Continued expansion of online platforms offers convenience and a broader selection of gift options.
• Personalization: Increased demand for customized and personalized gifts is driven by consumersÄX%$%X desire for unique and meaningful presents.
• Sustainability Focus: A growing focus on eco-friendly products and sustainable packaging arises as consumers become more environmentally conscious.
• Social Commerce: The rising influence of social media and influencers impacts gift purchasing decisions, with trends often driven by online reviews and recommendations.
• Technology Integration: The adoption of AR and VR technologies enhances the shopping experience and engages customers in new ways.
• Luxury and Premium Gifts: There is a growing interest in high-end and luxury gifts, reflecting increased disposable incomes and a focus on quality.
• Experience-Based Gifts: The rising popularity of experiential gifts, such as travel and activities, provides memorable and unique experiences.
The gift retailing market is evolving with trends toward e-commerce, personalization, and sustainability, driven by changing consumer preferences and technological advancements.
Recent Developments in the Gift Retailing Market
Recent developments in the gift retailing market highlight key shifts driven by technology, consumer behavior, and market dynamics.
• Digital Transformation: Growth in online shopping platforms and digital marketing strategies enhances customer reach and engagement.
• Personalized Offerings: Increased availability of customized gifts and tailored experiences meets consumer demand for unique and personal items.
• Sustainability Focus: There is a rising emphasis on eco-friendly products and sustainable practices that align with consumer values regarding environmental impact.
• Influencer Marketing: The significant role of social media influencers shapes trends and drives gift purchases through online platforms.
• Technological Innovations: Integration of AR, VR, and AI technologies improves the shopping experience and provides interactive options.
• Luxury Market Growth: The expansion of high-end and premium gift segments reflects growing consumer affluence and preference for quality.
• Omnichannel Strategies: The implementation of seamless online and offline shopping experiences caters to diverse consumer needs.
Recent developments in the gift retailing market underscore the importance of digital transformation, personalization, and sustainability, driving growth and innovation in the industry.
Strategic Growth Opportunities for Gift Retailing Market
Strategic growth opportunities in the gift retailing market involve leveraging consumer trends and technological advancements to capture market share.
• E-Commerce Expansion: Investing in online platforms and digital marketing reaches a broader audience and enhances customer convenience.
• Personalization and Customization: Offering personalized and bespoke gifts caters to consumer demand for unique and meaningful products.
• Sustainability Initiatives: Implementing eco-friendly practices and sustainable packaging attracts environmentally conscious consumers.
• Social Commerce Integration: Utilizing social media and influencer marketing drives engagement and sales through digital channels.
• Technology Adoption: Embracing AR, VR, and AI technologies enhances the shopping experience and provides innovative solutions.
• Luxury Segment Growth: Developing and promoting high-end and premium gift options appeals to affluent consumers.
• Experience-Based Offerings: Expanding into experiential gifts and activities provides unique and memorable experiences.
Strategic growth opportunities in the gift retailing market focus on e-commerce, personalization, and sustainability, leveraging technology and consumer trends to drive success.
Gift Retailing Market Driver and Challenges
The gift retailing market is influenced by various drivers and faces several challenges impacting its growth and development.
The factors responsible for driving the gift retailing market include:
• E-Commerce Growth: Expanding online platforms provide convenience and accessibility for consumers.
• Consumer Preferences: Increasing demand for personalized, unique, and sustainable gift options drives market trends.
• Technological Advancements: The use of digital technologies and social media enhances shopping experiences and marketing efforts.
• Luxury Market Expansion: Rising affluence leads to greater interest in high-end and premium gifts.
• Omnichannel Retailing: Integration of online and offline channels meets diverse consumer needs.
Challenges in the gift retailing market are:
• Market Competition: Intense competition requires continuous innovation and differentiation to stand out.
• Supply Chain Disruptions: Managing supply chain issues ensures product availability amidst global uncertainties.
• Consumer Expectations: Adapting to rapidly changing consumer preferences and expectations for personalization and sustainability is essential.
• Economic Fluctuations: Navigating economic downturns and fluctuations impacts consumer spending and purchasing power.
• Data Security: Protecting customer data and ensuring cybersecurity amidst increasing online transactions is crucial.
The gift retailing market is driven by e-commerce, consumer preferences, and technology, while facing challenges related to competition, supply chain disruptions, and changing consumer expectations. Addressing these factors is essential for sustained growth and success.
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. Through 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
Gift Retailing by Segment
The study includes a forecast for the global gift retailing by type, application, and region.
Gift Retailing Market by Type [Analysis by Value from 2018 to 2030]:
• Souvenir & Novelty
• Seasonal Decoration
• Greeting Card
• Giftware
• Others
Gift Retailing Market by Application [Analysis by Value from 2018 to 2030]:
• Online Retail
• Offline Retail
• Others
Gift Retailing Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Gift Retailing Market
Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. The following highlights recent developments by major gift retailing players in key regions: the USA, Germany, China, India, and Japan.
• USA: In the USA, the gift retailing market is experiencing significant growth, driven by a surge in e-commerce and changing consumer preferences. Major retailers are increasingly adopting omnichannel strategies to integrate online and offline shopping experiences. Personalized gifts and unique, curated selections are gaining popularity as consumers seek meaningful and customized options. The rise of social media platforms also influences buying patterns, with trends often driven by influencers and online reviews. Additionally, sustainability is becoming a key focus, with more retailers offering eco-friendly products and packaging to appeal to environmentally conscious consumers.
• Germany: GermanyÄX%$%Xs gift retailing market is seeing a shift toward digital innovation and sustainability. E-commerce platforms are expanding, providing consumers with a wider range of choices and convenient shopping options. There is a growing trend toward personalized and artisanal gifts, reflecting a preference for unique and high-quality items. Retailers are also emphasizing sustainability, with many adopting eco-friendly practices and offering products made from recycled or sustainable materials. Seasonal events and holidays continue to drive sales, with a notable increase in online promotions and digital marketing efforts to attract customers.
• China: In China, the gift retailing market is booming, fueled by rapid urbanization and increased disposable incomes. Online shopping is leading the growth, with platforms like Alibaba and JD.com dominating the market. Personalized and luxury gifts are highly sought after, reflecting the growing affluence of Chinese consumers. Social commerce is gaining traction, with influencers and live streaming playing a significant role in driving sales. The market is also seeing an increased focus on technological integration, such as AR and VR experiences, to enhance the shopping experience and engage consumers.
• India: IndiaÄX%$%Xs gift retailing market is expanding rapidly due to a growing middle class and increasing online shopping adoption. E-commerce platforms are becoming a major channel for gift purchases, offering a diverse range of products and convenient delivery options. Traditional festivals and celebrations continue to drive demand for gifts, with an emphasis on both traditional and contemporary options. Retailers are focusing on affordability and personalization to cater to diverse consumer preferences. Additionally, there is a growing trend toward sustainable and ethically sourced products as consumers become more environmentally conscious.
• Japan: JapanÄX%$%Xs gift retailing market is characterized by a blend of traditional and modern practices. The market continues to value high-quality, aesthetically pleasing products, with a strong emphasis on presentation and packaging. Online retail is growing, but traditional retail channels like department stores and specialty shops remain important. Personalized gifts and experiences are becoming increasingly popular, reflecting a desire for unique and meaningful presents. Japanese consumers are also showing a heightened interest in sustainable products, prompting retailers to offer eco-friendly options and implement green practices.
Features of the Global Gift Retailing Market
Market Size Estimates: Gift retailing market size estimation in terms of value ($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.
If you are looking to expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
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.
Q.8 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, Gift Retailing Market Size, Gift Retailing Market Growth, Gift Retailing Market Analysis, Gift Retailing Market Report, Gift Retailing Market Share, Gift Retailing Market Trends, Gift Retailing Market Forecast, Gift Retailing Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.