Gifts Retailing Market Size Worth USD 25.34 Billion By 2032 | CAGR: 3.26%

The global gifts retailing market size is expected to reach USD 25.34 billion by 2032, according to a new study by Polaris Market Research. The report “Gifts Retailing Market Share, Size, Trends, Industry Analysis Report, By Distribution Channel (Offline, Online); By Product; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising disposable incomes are contributing to the growth of the middle-class population in emerging economies, driving the demand for gifts and other luxury items. As disposable incomes increase, consumers become more interested in personalized and unique gifts, driving the market for specialty gift retailers. As disposable incomes rise, consumers are more likely to give gifts on special occasions, such as birthdays, anniversaries, and holidays, driving the market's growth.

Increasing awareness about the environment is driving the growth of green gifts. For instance, Nurturing Green, an offline and online retailer of plant seedling gifts in India, the company's current sales throughout India are roughly 65,000 every month. Due to increasing demand, they intend to increase it to 1 lakh each month by the end of the year 2021. Festival Season is influencing the growth of the global market as an increase in the demand for gifts is mostly observed at the time of festivals.

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The expansion of the gifting culture and the demand for seasonal decorations are the main factors driving the growth of the global gift retailing business. Sales of customized gifts for special occasions increased in response to the rising demand for seasonal offerings. One of the main factors fueling the expansion of the gift retailing market over the coming years will be the increase in demand for specialty goods. The market will experience significant demand due to the availability of personalized presents, improved customer service, the implementation of customer loyalty programs, and the growing popularity of 3D-printed gifts.

Gifts Retailing Market Report Highlights

• Offline distribution channel is anticipated to witness higher growth rate owing to the increased customer satisfaction and loyalty due to the opportunity to physically touch and see products before making a purchase.
• Souvenirs and novelty items segment accounted for the fastest growth as these goods are frequently reasonably priced, which makes them available to a broad variety of buyers and increases their appeal as gift choices in the coming future.
• North America is expected to have a larger revenue share owing to the increasing disposable income and a strong culture of gift giving in this region.
• The global players include Aldi Stores, Alibaba Group Holding, Amazon.com, American Greetings, Hallmark Card, House of Fraser, Loop Commerce, Macys, My Pet Gift Box, Penney OpCo, Shutterfly, Spencer Gifts, and Walt Disney

Polaris Market Research has segmented the gifts retailing market report based on distribution channel, product, and region:

Gifts Retailing, Distribution channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Offline
• Online

Gifts Retailing, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Souvenirs and novelty items
• Seasonal decorations
• Greeting cards
• Giftware

Gifts Retailing, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa