Gifts Retailing Market Size, Share, Growth, and Industry Growth by Type (Souvenirs and Novelty Items, Seasonal Decorations, Greeting Cards, Giftware, and Other Gift Items) By Application (Offline and Online) Regional Forecast To 2032

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GIFTS RETAILING MARKET REPORT OVERVIEW

The global Gifts Retailing Market size is USD 72.57 billion in 2024 and is expected to reach USD 97.35 billion by 2032, growing at a compound annual growth rate (CAGR) of about 3.74% during forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with gifts retailing experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Gifts retailing offers products for sale related to gift products.

The growing popularity of exchanging gifts and expansion in distribution channels is estimated to fuel market growth. A rise in the need for seasonal decoration coupled with increased social media marketing is anticipated to propel market growth in the forthcoming years. Growing R&D activities and evolution in gifts and increased number of events such as weddings, birthdays, and anniversaries. Such broad usage of the product is estimated to fuel market performance. Growing awareness about gifting culture and increased product sales such as Halloween, Christmas, Hanukkah, and Easter. Growing sales of personalized gifts and the increased need for gifting are predicted to fuel market growth. Increased R&D activities and presence of a huge number of market players. Increased disposable income and increased spending capacity of market players are estimated to fuel market progress. On the contrary, increased pricing pressure is anticipated to restrain market growth in the forthcoming years.

COVID-19 Impact: Social Distance Protocols to Harm Market Performance

The sudden outbreak of the Coronavirus pandemic affected several businesses globally. Lockdown restrictions and several government regulations harm market growth. The lower necessity of gifts and the ban on parties and public gatherings to control the spread of the disease reduced market progress. Social distance protocols and travel restrictions minimized market growth. Further, the closure of showrooms and high raw material prices reduce market growth.

LATEST TRENDS

"Rise in Demand for Seasonal Decorations to Fuel Market Growth "

Rising demand for seasonal decorations such as Halloween, Christmas, Hanukkah, and Easter. Increased need to exchange gifts during festivals is anticipated to accelerate market growth. Further, high demand for personal products and increased production of personal & beauty care products such as perfumes and cosmetics is anticipated to fuel market growth. Increased need for personalized gifts such as sleep masks, hair wigs, toys, and polarized sunglasses. These factors are estimated to fuel market growth in the upcoming years.

GIFTS RETAILING MARKET SEGMENTATION

By Type

Based on type, the market is divided into souvenirs and novelty items, seasonal decorations, greeting cards, giftware, and other gift items.

Souvenirs and novelty items are expected to be the top part of the segmentation type.

By Application

Based on the application, the market is divided into offline and online.

Offline is expected to be the top part of application segmentation.

DRIVING FACTORS

"Intelligent Marketing Strategies and Growing Social Media Marketing to Fuel Market Growth "

Increased adoption of intelligent marketing is anticipated to boost market sales. A rise in the need for seasonal decoration coupled with increased social media marketing is anticipated to propel market growth in the forthcoming years. Growing R&D activities and evolution in gifts and increased number of events such as weddings, birthdays, and anniversaries. Such broad usage of the product is estimated to fuel market performance. Growing awareness about gifting culture among the population is predicted to drive market growth. Easy product availability in the offline store and the presence of various ranges of gift products online is estimated to drive market growth. Increased spending capacity coupled with rapid modernization & urbanization is predicted to fuel market growth.

"Expansion in Distribution Channels to Expand Market Growth "

Expansion in distribution channels and increased R&D activities are estimated to fuel market growth. Further, several online marketing social media platforms such as YouTube, Twitter, Facebook, Pinterest, Instagram, Amazon, and Alibaba Group. These features are estimated to surge market growth. Increased need for the exchange of gifts and the presence of e-commerce retailers is estimated to fuel market growth. Increased demand for the product among millennials and high spending capacity are predicted to drive gifts retailing market growth in the forthcoming years.

RESTRAINING FACTORS

Increased Pricing Pressure and High Cost to Harm Market Growth

Increased pricing pressure is anticipated to restrain market growth in the forthcoming years.

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GIFTS RETAILING MARKET REGIONAL INSIGHTS

"Presence of Market Players in North America to Drive Market Share"

North America is estimated to account for the highest gifts retailing market share owing to the presence of market players. Growing gifting culture in the region is anticipated to fuel market growth. Increased social media marketing coupled with ease in gift availability in online and offline sectors is predicted to drive market growth. Growing R&D activities and evolution in gifts and increased number of events such as weddings, birthdays, and anniversaries. Such broad usage of the product is estimated to fuel market performance. Growing awareness about gifting culture and increased product sales such as Halloween, Christmas, Hanukkah, and Easter. These factors are estimated to drive market growth.

Europe is predicted to hold a prominent market share due to the tradition of exchanging gifts during special events or occasions which is anticipated to fuel market growth in the forthcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Top Gifts Retailing Companies

• Card Factory Plc. (U.K.)
• Hallmark Licensing LLC (U.S.)
• Bed Bath and Beyond Inc. (U.S.)
• Amazon.com Inc. (U.S.)
• Williams-Sonoma Inc. (U.S.)
• Enesco LLC (U.S.)
• Spencer Gifts LLC. (U.S.)
• American Greetings Corp. (U.S.)
• The Walt Disney Co. (U.S.)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.