Online Corporate and Promotional Giftware Sales in Australia - Industry Market Research Report

Unwanted gifts: The COVID-19 outbreak has reduced industry demand and revenue

Online corporate and promotional giftware suppliers rely on business confidence and the state of the economy to drive sales. So when these factors took a nose dive following the outbreak of COVID, so too did industry revenue. Prior to 2020, online suppliers of corporate and promotional giftware had enjoyed stable trading conditions thanks to positive business confidence and a steady stream of demand from advertising agencies. All of this came crashing down with the pandemic, leading to a significant slump in sales. Lockdown periods and trading restrictions brought the economy to a grinding halt, while the cancellation of events like annual conferences and product launches, because of social distancing restrictions, all but eradicated any remaining demand for new promotional product sales. The gradual easing and a return to COVID-normal trading conditions have breathed new life back into the industry and enabled online suppliers to regain lost ground. Despite the modest upswing since the easing of trading restrictions, industry revenue has been declining at an annualised 6.5% over the past five years and is expected to total $174.1 million in 2022-23, when revenue will jump by an estimated 8.3%. Industry firms operate websites that allow clients to purchase a range of corporate and promotional giftware merchandise. This includes office accessories, calendars, drinkware, bags, electronics and wearable products. Industry players are either pure-play online firms or bricks-and-mortar stores with an online presence. The industry excludes revenue generated from manufacturing activities. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.