Market Size of Gifts Retailing Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 14 Billion |
| Market Size (2029) | USD 17.13 Billion |
| CAGR (2024 - 2029) | 4.12 % |
| Fastest Growing Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Gifts Retailing Market Analysis
The Gifts Retailing Market size is estimated at USD 14 billion in 2024, and is expected to reach USD 17.13 billion by 2029, growing at a CAGR of 4.12% during the forecast period (2024-2029).
The gifts retailing market is a significant segment within the global retail industry, showing steady growth attributed to consistent demand for gifts across various occasions throughout the year. Key events such as birthdays, weddings, anniversaries, and holidays contribute to the sustained demand for gifts, driving the market forward.
Online platforms provide a diverse array of gifts, convenient delivery options, and the capability to send gifts globally. This has significantly broadened the market's accessibility and reach. The industry is witnessing an emerging trend towards eco-friendly and sustainable gifts, with consumers showing a preference for items made from recycled materials and ethically sourced products. Experiential gifts, including spa vouchers, travel packages, and event tickets, are gaining popularity as they focus on creating memorable experiences for recipients.
Corporate gifting is a crucial segment within the Gifts Retailing Market, with businesses purchasing gifts to express appreciation and strengthen professional relationships with clients, employees, and partners. Although the pandemic presented challenges and opportunities, the industry demonstrated resilience. With physical retail stores temporarily closed or operating at limited capacity, the shift to online shopping accelerated, leading to increased demand for gifts delivered directly to recipients' homes. While supply chain disruptions impacted certain gift items, the industry adapted to changing circumstances, emphasizing the enduring appeal and adaptability of the gifts retailing market.
Gifts Retailing Industry Segmentation
Gifts retailing refers to the sale of various products and items that are intended to be given as presents or gifts to others for special occasions, celebrations, or as gestures of goodwill. These products can range from traditional gifts such as greeting cards, flowers, and personalized items to more diverse options like electronics, fashion accessories, gourmet food baskets, and novelty gifts.
Gifts retailing market is segmented by product, distribution channel, and geography. By product, the market is sub-segmented into souvenirs and novelty items, seasonal decorations, greeting cards, giftware, and other gift items. By distribution channel, the market is sub-segmented into offline and online. By geography, the market is sub-segmented into North America, Europe, Asia-Pacific, Middle-East and Africa, and Latin America. The report offers market size and forecasts for the gifts retailing market in value (USD) for all the above segments.
| By Product | |
| Souvenirs and novelty items | |
| Seasonal decorations | |
| Greeting cards | |
| Giftware | |
| Other Gift items |
| By Distribution channel | |
| Offline | |
| Online |
| By Geography | |||||||||
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Gifts Retailing Market Size Summary
The gifts retailing market is a vital component of the global retail sector, experiencing consistent growth driven by the perennial demand for gifts during various celebrations such as birthdays, weddings, and holidays. The market's expansion is further fueled by the rise of online shopping, which offers a wide range of gift options and convenient delivery services, enhancing accessibility and global reach. A notable trend within the industry is the increasing consumer preference for eco-friendly and sustainable gifts, alongside a growing interest in experiential gifts that provide memorable experiences. Corporate gifting also plays a significant role, as businesses use gifts to strengthen professional relationships. The industry's resilience was tested during the pandemic, but it adapted by shifting towards online sales, demonstrating its ability to evolve with changing consumer behaviors and market conditions.
Valentine's Day serves as a significant driver of sales within the gifts retailing market, with both online and physical retailers experiencing increased demand as consumers seek gifts for loved ones. Retailers expand their product offerings to include a variety of personalized items and experiences, leveraging marketing strategies across multiple channels to maximize sales during this peak period. In the United States, the demand for souvenirs and gifts is bolstered by domestic and international tourism, with gift stores in tourist areas seeing increased foot traffic. The American culture's emphasis on gift-giving during major holidays and milestones further supports market growth. The competitive landscape of the gifts retailing market is characterized by continuous innovation, with retailers focusing on unique product offerings, exceptional customer service, and strong online presences to attract and retain customers.
Gifts Retailing Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Seasonal Occasions and Celebrations
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1.2.2 E-commerce and Online Shopping
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1.3 Market Restraints
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1.3.1 Intense Competition
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1.3.2 Changing Consumer Preferences and Trends
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1.4 Insights on Consumer Behavior Analysis
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1.5 Insights on Impact of technology in the Market
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Bargaining Power of Buyers
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1.6.2 Bargaining Power of Suppliers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Souvenirs and novelty items
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2.1.2 Seasonal decorations
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2.1.3 Greeting cards
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2.1.4 Giftware
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2.1.5 Other Gift items
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2.2 By Distribution channel
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2.2.1 Offline
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2.2.2 Online
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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2.3.2 Europe
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2.3.2.1 UK
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Netherlands
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Indonesia
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2.3.3.6 Malaysia
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2.3.3.7 Rest of Asia-Pacific
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2.3.4 Middle East & Africa
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2.3.4.1 UAE
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2.3.4.2 Saudi Arabia
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2.3.4.3 Israel
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2.3.4.4 South Africa
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2.3.4.5 Rest of Middle East and Africa
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2.3.5 Latin America
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2.3.5.1 Argentina
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2.3.5.2 Brazil
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2.3.5.3 Mexico
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2.3.5.4 Rest of Latin America
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Gifts Retailing Market Size FAQs
How big is the Gifts Retailing Market?
The Gifts Retailing Market size is expected to reach USD 14 billion in 2024 and grow at a CAGR of 4.12% to reach USD 17.13 billion by 2029.
What is the current Gifts Retailing Market size?
In 2024, the Gifts Retailing Market size is expected to reach USD 14 billion.
