Global Gifts Retailing Market 2018-2022
About Gifts Retailing
A gift signifies a product bought for social expression achieved through the act of presenting it to someone. A gift is an item given to someone without the expectation of payment or return. The retail market for gifts comprises a wide range of products, including souvenirs and novelty items, seasonal decoration, greeting cards, giftware, and other products, which are sold through physical store retailers (offline distribution channel) and online retailers (online distribution channel).
Technavio’s analysts forecast the global gifts retailing market will register a revenue of almost USD 77 billion by 2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global gifts retailing market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Gifts Retailing Market 2018-2022
Technavio recognizes the following companies as the key players in the global gifts retailing market: American Greetings, Card Factory, Disney, Hallmark Licensing, and Spencer Gifts.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rise in demand for specialized merchandize. With the growing demand for novelty and souvenir gifts, vendors in the gift card industry are focused on offering specialized merchandise. The personalized gifts market exhibits a clear distinction between mass and specialty merchandisers.”
According to the report, one driver in the market is rise in demand for seasonal decorations and growing gifting culture. According to this market research and analysis, the continuous rise for seasonal decorations and growing gifting culture will be the key factors fueling the market’s growth during the next few years. Consumers in the advanced economies including the US and the UK contribute to the major demand for seasonal gifts.
Further, the report states that one challenge in the market is pricing pressures due to fierce market competition. The presence of numerous players in the market increases market competition, which in turn, leads to increased pricing pressure.
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