Gifts Retailing Market Report 2024

The gifts retailing market size has grown strongly in recent years. It will grow from $14.05 billion in 2023 to $14.77 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth during the historic period can be attributed to several factors, the rise of online shopping and digital sales channels, increasing demand for personalized and customized gifts, higher consumer spending during holidays and festive seasons, growing spending power among millennials, and a shift towards eco-friendly and sustainable gifts.

The gifts retailing market size is expected to see strong growth in the next few years. It will grow to $18.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The projected growth during the forecast period can be attributed to several factors, ongoing expansion of e-commerce, increased use of AI for personalized shopping experiences, a heightened focus on sustainable and ethical products, growing popularity of experience-based gifts such as travel and events, and the integration of online and offline retail experiences. Key trends expected to influence this period include enhanced personalization and customization, greater integration of technology, the rise of subscription-based gifting, a focus on health and wellness gifts, and the development of smart and connected devices.

The growth of the gift retailing market is anticipated to be driven by the increasing shift towards online shopping. Online shopping involves buying goods or services from internet-based retailers or e-commerce platforms via a web browser or mobile app. The surge in online shopping is fueled by its convenience, a broader selection of products, competitive pricing, ease of comparison, and the availability of customer reviews and recommendations. Gift retailing supports this trend by offering a wide variety of customizable and unique products, catering to consumers looking for convenient and personalized shopping experiences. For example, in May 2024, the Census Bureau of the Department of Commerce reported that U.S. retail e-commerce sales reached $289.2 billion in the first quarter of 2024, reflecting a 2.1% increase (±0.7%) from the fourth quarter of 2023. This trend towards online shopping is expected to boost the growth of the gift retailing market.

Key players in the gift retailing market are investing in innovative solutions such as artificial intelligence-powered personalized shopping tools to enhance customer experiences and engagement. These tools use algorithms and data analytics to customize product recommendations and shopping experiences according to individual preferences. For instance, in January 2024, Etsy Inc., a US-based gifting manufacturer, introduced Gift Mode, an AI-powered shopping tool designed to improve the gift shopping experience. This tool combines artificial intelligence with human curation to assist shoppers in finding gifts for various occasions, making the shopping process more interactive and tailored to the recipient’s specific interests.

In June 2022, Gift Universe Group Ltd., a UK-based gift retailer, acquired Prezzybox for an undisclosed amount. This acquisition enables Gift Universe Group to strengthen its position in the gift retailing market by incorporating Prezzybox's product range and customer base. Prezzybox, a UK-based retailer, specializes in unique and customized gifts.

Major companies operating in the gifts retailing market are Walmart Inc., Amazon.com Inc., Costco Wholesale Corporation, Alibaba Group Holding Limited, The Walt Disney Company, Macy's Inc., Williams-Sonoma Inc., Spencer Gifts LLC, Hallmark Cards Inc., American Greetings Corporation, Shutterfly Inc., Card Factory, Enesco LLC, The Paper Chase, Ferns N Petals Private Limited, House of Fraser Limited, Aldi Stores Limited, Loop Commerce Inc., My Pet Gift Box Limited, Penney OpCo LLC.

North America was the largest region in the gifts retailing market in 2023. The regions covered in the gifts retailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the gifts retailing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Gifts retailing involves selling a variety of items intended for occasions such as birthdays, holidays, and celebrations. This sector includes a broad range of products, from personalized items and seasonal gifts to novelty products. It often focuses on consumer trends, marketing strategies, and seasonal promotions to attract shoppers.

The main categories in gift retailing include souvenirs and novelty items, seasonal decorations, greeting cards, giftware, and others. Souvenirs and novelty items are unique products that serve as mementos or gifts, often representing a specific location, event, or theme. Occasion-specific gifts cover items for birthdays, anniversaries, holidays, and graduations, with trends such as customized packaging, engraving, and embroidery. These gifts are sold through various channels, including physical stores, e-commerce platforms, and specialty gift shops.

The gift retailing market research report is one of a series of new reports that provides gift retailing market statistics, including the gift retailing industry's global market size, regional shares, competitors with a gift retailing market share, detailed gift retailing market segments, market trends and opportunities, and any further data you may need to thrive in the gift retailing industry. This gift retailing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The gift retailing market consists of sales of greeting cards, personalized items, jewelry, flowers, toys, and home decor. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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