GITNUX MARKETDATA REPORT 2024

Must-Know Gifting Industry Statistics [Latest Report]

In this post, we will explore key statistics that shed light on the dynamic landscape of the gifting industry. From the rapid growth in the Asia-Pacific region to the preferences and behaviors of consumers, these statistics provide valuable insights into the multi-billion dollar industry of gift-giving.

Statistic 1

"About 43% of men utilize online shopping to purchase gifts compared to 36% of women."

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Statistic 2

"79% of consumers are influenced by peer recommendations when purchasing gifts."

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Statistic 3

"Baby Boomers spend the most on gifts annually, averaging $650 per person."

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Statistic 4

"About 20% of all gift recipients exchange or return the gifts they receive."

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Statistic 5

"45% of shoppers purchase gift products due to social media recommendations."

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Statistic 6

"55% of consumers say they spend more on gifts when they have a high engagement with the brand."

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Statistic 7

"The corporate gifting market in the US is expected to grow by $64.4 billion from 2019 to 2025."

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Statistic 8

"Christmas and Valentine’s Day make up 57% of total gift purchases annually."

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Statistic 9

"Approximately 60% of consumers prefer gift cards over other types of gifts."

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Statistic 10

"The loyalty point gifting industry in the US projected to reach $27 billion by 2024."

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Statistic 11

"The global gifting market is estimated to reach $475.2 billion by 2024."

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Statistic 12

"49% of gift sales come from department stores."

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Statistic 13

"Personalized gifts are expected to witness a CAGR of over 8% from 2020 to 2026."

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Statistic 14

"Millennial shoppers spend an average of $371 annually on holiday gifts."

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Statistic 15

"74% of US consumers purchase gifts online."

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Statistic 16

"25% of U.S. consumers start their holiday shopping before Halloween."

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Statistic 17

"$29 billion is spent on Mother’s Day gifts in the US annually."

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Statistic 18

"40% of annual sales for gift shops occur during the holiday season."

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Statistic 19

"E-commerce retail sales of physical and digital gift cards amounted to approximately $160 billion in 2020."

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Statistic 20

"Nearly 72% of surveyed people have re-gifted items because they’re not useful for them."

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In conclusion, the gifting industry is a lucrative and dynamic market characterized by diverse trends and consumer behaviors. The Asia-Pacific region is experiencing rapid growth, while specific occasions like Mother’s Day and Father’s Day contribute significantly to annual spending in the U.S. Millennials play a crucial role in driving the market, with online sales, sustainability, and personalized gifts being key focus areas. Gift cards remain a popular choice among shoppers, and the shift towards experiential gifts and eco-friendly options reflects changing consumer preferences. Overall, the industry’s substantial size and continual evolution present ample opportunities for businesses to innovate and cater to the varied needs and preferences of gift recipients and givers.

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