Gifting is an age-old tradition that has been around for centuries. It is a way to show someone you care, to express your appreciation, and to make someone feel special. But what do we really know about the gifting industry? What are the latest trends and statistics?
In this blog post, we will explore the gifting industry and take a look at some of the most interesting statistics and trends. We will also discuss how these trends can be used to inform your gifting decisions. So, let’s get started.
Gifting Industry: The Most Important Statistics
54% of companies plan to increase their investment in corporate gift giving over the next two years.
US shoppers spent $201.32 billion online during the 2021 holiday season, showing a significant increase in online shopping.
Gifting Industry Statistics Overview
The global personalized gift industry is predicted to reach $43.3 billion by 2027, demonstrating the growth of the gifting industry.
66% of people prefer heartfelt and personalized gifts over generic gifts worth 100$.
This shows that customers are willing to pay more for a personalized gift, which could lead to increased profits for businesses that offer personalized gifts.
31% of consumers say that social media can trigger a gift purchase, which shows that social media is a powerful tool for inspiring and influencing gift purchases.
46% of Generation Z respondents use social media to get gift inspiration.
The corporate gifting market size in the US is projected to grow at 8.1% CAGR through 2024.
Thus, the market is growing despite the current global pandemic. This growth is likely due to the increased need for organizations to maintain productivity across remote workforces. This data can be used to inform decisions and strategies in the gifting industry.
54% of companies plan to increase their investment in corporate gift giving over the next two years.
Corporate gift giving is therefore becoming increasingly popular and is seen as a valuable investment by many companies. This could lead to increased competition in the gifting industry, as well as more opportunities for businesses to capitalize on this trend.
80% of Americans have purchased their holiday gifts by November, with only a fifth waiting until December.
The majority of holiday shoppers are done by November, which means that companies should focus their marketing and sales efforts earlier in the season to capitalize on the majority of holiday shoppers.
US shoppers spent $201.32 billion online during the 2021 holiday season, showing a significant increase in online shopping.
This shows that online shopping is becoming increasingly popular, and that people are more likely to shop online for gifts during the holiday season. This has implications for businesses in the gifting industry, as they should consider expanding their online presence in order to capitalize on this trend.
The global gift card market was worth $1 trillion in 2020 and is projected to reach $2.7 trillion by 2027, growing at an impressive annual rate of 14.5%.
This highlights the resilience of the market despite the COVID-19 pandemic, indicating that it is a lucrative industry to invest in.
57% of women prefer earrings, 42% prefer necklaces, 30% prefer bracelets, and 26% prefer fashion rings as gifts.
Conclusion
Gifting is an important part of many cultures and is an industry that continues to grow. With the rise of e-commerce, the gifting industry has seen a surge in growth, with more people than ever before taking advantage of the convenience and ease of online gifting.
The statistics show that the gifting industry is a lucrative one, with a large customer base and plenty of potential for growth. With the right strategies and a focus on customer satisfaction, businesses in the gifting industry can continue to experience success and growth.
References
1 – https://www.thebesttravelgifts.com/latest-gift-industry-statistics/#:~:text=In%202020%20the%20global%20industry,on%20in%20the%20coming%20years.
2 – https://www.thebesttravelgifts.com/latest-gift-industry-statistics/#:~:text=In%202020%20the%20global%20industry,on%20in%20the%20coming%20years.
3 – https://trulyexperiences.com/blog/gift-giving-statistics-trends/
4 – https://www.thebesttravelgifts.com/latest-gift-industry-statistics/#:~:text=In%202020%20the%20global%20industry,on%20in%20the%20coming%20years.
5 – https://www.postal.com/blog/corporate-gifting-statistics
6 – https://www.postal.com/blog/holiday-gifting-statistics
7 – https://financesonline.com/christmas-shopping-statistics/
8 – https://savemycent.com/gift-industry-statistics/
