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Impact Of Online Shopping On The Growth Of The Gift Retailing Market: Transformative Forces Shaping the Gifts Retailing Market Landscape in 2025
Gifts Retailing Market
What Will the Gifts Retailing Industry Market Size Be by 2025?
There has been a robust expansion in the gifts retailing market size over the past few years. The market is projected to escalate from $14.77 billion in 2024 to $15.56 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 5.4%. Several factors have propelled this growth during the historic period, including the prevalence of online shopping and digital sales channels, a surge in demand for unique and personalized gifts, consumer spending spikes during holiday and festive periods, a boost in the spending capacity of the millennial population, and a rise in consumer preference for gifts that are environmentally friendly and sustainable.
What's the Long-Term Growth Forecast for the Gifts Retailing Market Size Through 2029?
The market size of gift retailing is projected to show robust growth in the approaching years, with an expected value of $19.02 billion by 2029 growing at a Compound Annual Growth Rate (CAGR) of 5.1%. This anticipated uplift during the projection period is due to several factors including the continuous expansion of e-commerce, increased utilization of AI in enhancing personalized shopping experiences, a greater emphasis on sustainable and ethical products, rise in experience-based gifts such as travel and events, and the fusion of online and offline retail experiences. Key trends expected within the projection period encompass personalization and customization, integration of technology, subscription-based gifting, health and wellness focused gifts, and the proliferation of smart and connected devices.
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What Are the Key Growth Drivers Fueling the Gifts Retailing Market Expansion?
The trend towards online shopping is anticipated to spearhead the expansion of the gift retailing market in the future. This pertains to the buying of products or services from retailers or e-commerce sites on the internet, whether through a web browser or mobile application. The surge in online shopping has its roots in comfort, a broad variety of products to select from, competitive rates, and the capability to comparison shop easily. Moreover, the presence of customer reviews and suggestions add to its popularity. Gift retailing is enhancing the transition to online shopping by improving its offering of a varied selection of unique, customizable products which cater to consumers who desire personalized and convenient shopping journeys. For example, in the first quarter of 2024, the U.S. retail e-commerce sales, as stated by the Census Bureau of the Department of Commerce, a US government entity, reached $289.2 billion, marking a 2.1% uptick (±0.7%) compared to the last quarter of 2023. Therefore, the move towards online shopping is predicted to fuel the growth in the gift retailing market.
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What Are the Key Trends Driving Gifts Retailing Market Growth?
Leading firms in the gift retailing sector are concentrating on creating inventive solutions like personalized shopping tools powered by artificial intelligence to bolster personalized shopping experiences and bolster customer engagement. These tools employ algorithms and data analytics to customize product suggestions and shopping experiences to align with unique consumer tastes. For example, Etsy Inc., a US-based gift manufacture firm, rolled out Gift Mode in January 2024, an AI-driven shopping tool designed to enrich the gift shopping process. This tool harnesses the power of AI and human curation to assist shoppers in locating gifts for any event by making the buying activities more engaging and enabling shoppers to stumble upon gifts that match with the recipient's particular interests.
How Is the Gifts Retailing Market Segmented?
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 Companies Are Leading the Charge in Gifts Retailing Market Innovation?
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
Which Regions Are Leading the Global Gifts Retailing Market in Revenue?
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.
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