What Has Been The Evolution of the Gifts Retailing Market in Recent Years?
The gifts retailing market has seen considerable growth due to a variety of factors.
• The gifts retailing market has grown steadily in recent years. It is expected to rise from $14.77 billion in 2024 to $15.56 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%.
The growth is attributed to the increasing popularity of online shopping and digital sales channels, higher demand for personalized and customized gifts, stronger consumer spending during holidays and festive seasons, millennials' increasing spending power, and growing preference for eco-friendly and sustainable gifts.
What Is the Forecasted Market Size and Growth Rate for The Gifts Retailing Market Size In The Coming Years?
The gifts retailing market is expected to maintain its strong growth trajectory in upcoming years.
• The gifts retailing market is projected to grow steadily, reaching $19.02 billion by 2029, at a CAGR of 5.1%.
Growth will be driven by continued e-commerce expansion, enhanced use of AI for personalized shopping experiences, a growing focus on sustainable and ethical products, the rising popularity of experience-based gifts, and the integration of online and offline retail. Key trends will include personalization and customization, technology integration, subscription-based gifting, health and wellness gifts, and smart and connected devices.
What Factors Are Driving Growth In The Gifts Retailing Market?
The gift retailing market is expected to grow as online shopping continues to rise. This shift is driven by the convenience, wider product selection, and competitive pricing that online shopping offers. Gift retailing benefits from this trend by providing unique, customizable gift options that appeal to consumers seeking personalized experiences. For example, in the first quarter of 2024, U.S. e-commerce sales reached $289.2 billion, a 2.1% increase from the previous quarter, according to the U.S. Census Bureau. Therefore, the shift to online shopping is propelling the gift retailing market.
What Are The Main Segments Of The Global Gifts Retailing Market?
The gifts retailing market covered in this report is segmented –
1) By Type: Souvenirs And Novelty Items, Seasonal Decorations, Greeting Cards, Giftware, Other Gift Items
2) By Occasion-Specific Gifts: Birthday Gifts, Anniversary Gifts, Holiday Gifts, Graduation Gifts
3) By Personalization Trends: Customized Packaging, Engraving And Embroidery
4) By Retail Channels: Brick-And-Mortar Stores, E-Commerce Platforms, Specialty Gift Shops
Subsegments
1) By Souvenirs and Novelty Items: Custom Souvenirs, Branded Merchandise, Regional/Location-Specific Items
2) By Seasonal Decorations: Holiday-Specific (e.g., Christmas, Halloween), Seasonal Home Decor, Special Event Decor (e.g., Weddings, Birthdays)
3) By Greeting Cards: Occasion Cards (e.g., Birthday, Anniversary), Holiday Cards, Blank and Personalized Cards
4) By Giftware: Decorative Accessories, Collectibles, Luxury and High-End Giftware
5) By Other Gift Items: DIY and Craft Kits, Experience-Based Gifts (e.g., Vouchers, Tickets), Eco-Friendly and Sustainable Gifts
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Which Emerging Market Trends Are Altering The Gifts Retailing Industry?
Main players in the gift retailing market, such as Etsy Inc., are implementing groundbreaking innovations like AI-powered personalized shopping tools. These tools use algorithms and data analytics to customize product suggestions and shopping experiences based on each consumer's personal tastes. For example, the U.S.-based gifting manufacturer Etsy Inc. unveiled an AI-powered shopping tool called Gift Mode in January 2024. This tool uses a combination of artificial intelligence and human curation to assist shoppers in finding gifts to suit any occasion. The tool aims to make shopping more interactive and allows shoppers to find gifts that match the recipient's unique preferences.
Who Are the Key Players In The Gifts Retailing Market?
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
What Is The Most Dominant Region In The Gifts Retailing Market?
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.
