The Gifts Industry has been at its highest in the recent years, and the trend seems to be going anywhere but down!

As the population increases and new trends develop, the gifts industry is taking a big boom in sales revenue, and gifts business owners are earning more than ever before!

At such a time, starting your own online gift shop can prove highly profitable for you! Nevertheless, it is important to do gift market research and gifts industry analysis before taking any such measures, and this article is here for you!

The fact that the global gifts industry is valued at over $131 Billion means there’s something special about it that’s really flowing in a truck load of cash every month!

In this post, let’s study the gifts industry market size and see a forecast of how it would grow in the coming years!

Welcome to Kaivalya.me, let’s dive right in!

Gifts Industry Market Size And Forecast

The gift market is more than just a physical market. Today, hundreds of thousands of gifts business owners are taking their store online. Whether on Shopify or Amazon Handmade, or an eCommerce store of their own, the online gifts industry is helping these gifts business owners reach a broader audience and sell in lower time.

Moreover, another key advantage of the online gifts industry is its ease of marketing. With a physical gift shop, you need a special team that creates your business profile on Google and ensures good reviews so more people walk in.

But on online platforms such as Shopify, you are already prepped with a lot of promotional techniques on the go which allow you to reach that more closer to your dream without spending as much time as you would conventionally require.

Due to these factors amongst many others, the online gifts industry has soared in the recent years. Fact is, it is going to continue towering high since the entire world is going through a digital revolution.

Online Gift Shops Are A True Pivots Of the Gifts Industry. They’ve increased the customer base and connected gifts business owners with customers at the fingertips!

Gifts Industry Insights By Region

Revenue wise, a majority of the gifts industry market share is held by North America, which accounts for around 35.5% of the gift market. Most of the worldwide sales were powered by the United States because of an augmentation in the gifting occasions in the region.

Because of the increased spending power, customers choose purchasing rather costly gift products that have a graceful outlook. This improves the overall appeal of the gift. Such a trend is expected to fuel the gift demand in North America in the coming years.

The Asia Pacific region is expected to see a significant increase in the gift market because of the growth in general spendable income alongside an improved gifts business market of MNOs and international franchising.

For instance, India’s largest greeting cards market, Archies tied up with Hallmark to launch an exclusive line of stores for their cards. Such initiatives are expected to fuel the rise of the gifts industry in the region, which will powerfully influence the gifts business growth in Asia Pacific.

South America is a potential base for the gifts business. Since the gifts industry is growing its penetration in developing nations such as Argentina and Brazil, gift products are forecasted to break the gift market in this region.

Furthermore, given that the market is considerably fragmented, the South American nations are expected to encounter significant rise thanks to the improved market penetration of the worldwide gifts business owners and other players in the industry.

Christmas Gifting

Christmas is by far the gold period for gifting. Most of the gifts in the world are gifted during the Christmastime. Therefore, it is necessary to do an exclusive study of Christmas gifting in the gifts industry.

The overall spending per person during Christmas gifting time has increased by about 7% in 2019, which is good news as it means more sales revenue for gifts business owners!

However, this trend is particularly seen in the gift products that are unique and attractive. Most Christmas gifters tend to gift the same gifts they gifted the previous year (quite a gifty sentence 😜). And if they don’t gift the same gifts, they’re looking for something different.

As such, it’s a great idea for a gift shop owner to continue handling their existing line of Christmas gift products (if they’re selling well) and stocking a few new gift items which are different and unseen while also having a graceful outlook.

That way, you’re covering up a broad range of Christmas gifters and looking for a boost in your Christmas gifting sales revenue!

To know more on the Christmas Gifting trends, check out this this post from Lifestyle.

Base Line

It’s sufficiently clear that the $131.3 Billion Gifs Industry has just one way: up!

The next few years hold some great rewards on the way for gifts business owners, and you don’t want to miss out!

However, just the fact that the gifts business is going to boom doesn’t mean your gifts business will follow suit. As the gift market expands, even as gifts business owners make money, many others will see their shutters shut due to the increased infestation of MNOs in local markets.

But there’s a way out of it! In our over five years of experience in the gift market, we at Kaivalya.me know the gifts industry through its ins and outs. We’ve been here for a while, working with a myriad of gifts business owners from a multitude of regions and helping them out of their struggles.

In January 2020, one of our clients made a sweet $52,799.53 in revenue! Not only can we help you win against MNOs infiltrating your region, we can help you significantly boost your revenue to reach numbers you could only dream of. Check out our FREE Audit and Consultation services today!