Global Gifts Retailing Market size to grow by USD 16.75 billion during 2024-2029 - Technavio

Market Segmentation: Unboxing the Growth

The Technavio report segments the gifts retailing market by product and distribution channel, spotlighting gift retail stores and opportunities.

By Product:

• Souvenirs and Novelty Items: Leads with unique gift items, appealing to travelers and seekers of special occasion gifts.
• Seasonal Decorations: A key driver, seasonal gift sales spike with holiday gift trends like Christmas décor.
• Greeting Cards: Steady with sentimental appeal, boosted by retail gift packaging.
• Giftware: Includes luxury gift retail like décor, targeting premium buyers.
• Others: Features gift subscription boxes and experiential gifts.

By Distribution Channel:

• Offline: Dominates via gift retail stores and gift baskets retail, offering tactile appeal.
• Online: Grows fast with online gift shops and gift delivery services, catering to convenience.

This gifts retailing market segmentation blends tradition with gift retail trends.

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Key Drivers of Growth

A thriving gifting culture powers growth. “Shoppers crave custom gift products for every event,” a Technavio analyst said. “This fuels the gifts retailing market.” Holiday gift trends drive seasonal gift sales, while corporate gift solutions rise in business settings.

Tech like AI enhances personalized gift ideas, and online gift shops expand reach. Rising incomes and globalization boost gift card market and handmade gift retail, with gift wrapping services adding flair, per gifts market expansion.

Challenges and Opportunities

Competition squeezes margins. “Big players challenge affordable gift options,” the analyst noted. Supply chain hiccups also test gift delivery services. Yet, eco-friendly gifts and luxury gift retail crafted by artisans shine, tapping sustainability and exclusivity for gifts retailing market growth.

Competitive Landscape

The gifts retailing market features key players:

• Amazon.com Inc.: Leads online gift shops with gift subscription boxes.
• Walmart Inc.: Dominates gift retail stores with affordable gift options.
• The Walt Disney Co.: Excels in unique gift items.
• Hallmark Card Inc.: Rules gift card market.
• Alibaba Group Holding Ltd.: Boosts gift baskets retail.

These leverage corporate gift solutions, while niche vendors focus on handmade gift retail.

Regional Insights

Europe leads with 47% of gifts retailing market growth, fueled by US spending. Europe follows with holiday demand, APAC surges with middle-class growth, and South America expands via gift delivery services, per gifts market analysis.

Future Outlook

By 2029, personalized gift ideas and eco-friendly gifts will reshape gift retail trends. Gift subscription boxes and luxury gift retail will grow. “Tech meets emotion,” the analyst predicted. Stakeholders should target gifts market analysis, sustainability, and SEO for gifts retailing to grab this USD 16.75 billion.

About Technavio

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