Gifts Retailing Market Size, Share, Growth, Trend & Forecast 2030 | Credence Research


 The latest market report published by Credence Research, Inc. The global demand for Gifts Retailing market was valued at USD 14548.5million in 2022 and is expected to reach USD 21494.7 Million in 2030, growing at a CAGR of 5.00% between 2023 and 2030.

In the realm of retail, the gifts sector stands as a beacon of sentiment, celebration, and human connection. Whether it's a birthday, anniversary, holiday, or just a spontaneous gesture of appreciation, gifts hold the power to convey emotions and strengthen bonds. Over the years, the gifts retailing market has undergone a significant evolution, adapting to changing consumer preferences, technological advancements, and societal trends.

Traditionally, brick-and-mortar stores were the primary destination for gift shopping. Customers would stroll through aisles adorned with colorful displays, handpick items, and engage with knowledgeable staff. However, with the advent of e-commerce, the landscape of gifts retailing underwent a profound transformation. Online platforms offered unparalleled convenience, a wider selection of products, and the ability to shop anytime, anywhere. This shift prompted traditional retailers to embrace digital strategies, creating omnichannel experiences to cater to evolving consumer behaviors.

Personalization has emerged as a cornerstone of the modern gifts retailing market. Consumers seek unique, customized items that reflect the recipient's personality and interests. From engraved jewelry to bespoke gift baskets, retailers are leveraging technology to offer tailored solutions. Data analytics enable businesses to understand consumer preferences better, allowing them to curate personalized recommendations and anticipate trends.

Browse the Full Report: https://www.credenceresearch.com/report/gifts-retailing-market

The rise of socially conscious consumerism has also influenced the gifts retailing landscape. Ethical sourcing, sustainability, and giving back to communities have become integral considerations for shoppers. As a result, eco-friendly and fair-trade products have gained traction, prompting retailers to prioritize ethical practices and transparent supply chains. Many companies now partner with social enterprises and nonprofit organizations, channeling a portion of their profits towards charitable causes.

Innovations in technology continue to redefine the gifts retailing market. Augmented reality (AR) and virtual reality (VR) technologies offer immersive shopping experiences, allowing customers to visualize products in their environment before making a purchase. Similarly, artificial intelligence (AI) powers chatbots and virtual assistants, providing personalized recommendations and enhancing customer service. Social media platforms have also become instrumental in shaping consumer trends, with influencers and user-generated content driving purchasing decisions.

The COVID-19 pandemic catalyzed further shifts in the gifts retailing landscape. Lockdowns and social distancing measures accelerated the adoption of online shopping, leading to a surge in e-commerce sales. Retailers pivoted quickly, implementing contactless delivery options, virtual events, and enhanced sanitization protocols to reassure consumers. Additionally, the pandemic fueled demand for meaningful gifts that fostered connection and provided comfort during challenging times, leading to a resurgence of handwritten notes, care packages, and sentimental tokens.

Looking ahead, the gifts retailing market is poised for continued evolution. As technology advances and consumer preferences evolve, retailers must remain agile and responsive to changing dynamics. By embracing innovation, prioritizing personalization, and embodying values that resonate with modern consumers, businesses can thrive in this ever-evolving landscape, ensuring that the act of gift-giving continues to inspire joy and strengthen relationships for generations to come.

List of Companies Covered:

  • Aldi Stores Ltd.
  • Alibaba Group Holding Ltd.
  • Amazon.com Inc.
  • American Greetings Corp.
  • Bed Bath and Beyond Inc.
  • Card Factory Plc
  • Costco Wholesale Corp.
  • Enesco LLC
  • Ferns N Petals Pvt. Ltd.
  • Hallmark Card Inc.
  • House of Fraser Ltd.
  • Loop Commerce Inc.
  • Macys Inc.
  • My Pet Gift Box Ltd
  • Penney OpCo LLC
  • Shutterfly Inc.
  • Spencer Gifts LLC
  • The Walt Disney Co.
  • Walmart Inc.
  • Williams Sonoma Inc.

Browse the Full Report: https://www.credenceresearch.com/report/gifts-retailing-market

By Segmentation

By Occasion-Specific Gifts:

  • Birthday Gifts
  • Anniversary Gifts
  • Holiday Gifts
  • Graduation Gifts

By Recipient-Specific Gifts:

  • Gifts for Him/Her
  • Gifts for Children
  • Corporate Gifts

By Product Categories:

  • Apparel and Accessories
  • Electronics and Gadgets
  • Home Decor and Furnishings
  • Personalized Gifts
  • Books and Stationery

By Gift Cards and Vouchers:

  • Digital Gift Cards
  • Experience-Based Vouchers

By Specialty Gifts:

  • Gourmet and Food Gifts
  • Subscription Boxes
  • Ethical and Sustainable Gifts:
  • Fair Trade Products
  • Eco-Friendly and Sustainable Gifts

By Retail Channels:

  • Brick-and-Mortar Stores
  • E-commerce Platforms
  • Specialty Gift Shops

By Personalization Trends:

  • Customized Packaging
  • Engraving and Embroidery

By Technology Integration:

  • Augmented Reality (AR) and Virtual Reality (VR)
  • E-Gifting Platforms

By Region

  • North America (U.S. and Rest of North America)
  • Europe (U.K., Germany, France, and Rest of Europe)
  • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

 

 

 

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