Gifts - Market Size

Goals

To understand the gifting market in the United States. The gifting market includes occasional gifts such as weddings, bachelorette parties, bridal showers, birthdays, corporate events, hospitality hosting, kids birthdays, dog birthdays, and one-to-one gifting.

Early Findings

Gifting Market in the United States

  • The gifting market in the United States was $131.3 billion in 2016.
  • Between 2018 and 2022, the personalized gifts market in the United States is expected to grow at a compound annual growth rate (CAGR) of 9%.
  • This growth is equivalent to an incremental growth of $3.47 billion over the forecast period.
  • Assuming that the gifting market is growing at the same CAGR between 2016 and 2022, the projected market size could be calculated using this reverse CAGR calculator:
    • In 2019, the estimated market size of the gifting market in the United States was $170 billion.
    • The market size is expected to reach $220.2 billion in 2022.
  • Promotional or corporate gifts are branded products/gifts given to promote "a company, a product, or even an artist or politician."
  • As of 2016, the promotional gifting segment was worth $22 billion, accounting for 17% of the gifting market in the United States.

Spending on Gifts

  • A Gallup study stated that American adults spend approximately $920 on gifts per person.
  • Breakdown of American adults by their spending on gifts:
    • At least $1,000: 33%
    • Between $500 and $999: 22%
    • Between $100 and $499: 29%
    • Less than $100: 3%

    Summary

    • Our preliminary research indicated that recent data for the gifting market in the United States is not available. Knowing the CAGR of the personalized gifting market, we assumed that this CAGR applies to the whole market. Thus, we were able to estimate the 2019 and 2022 figures.
    • Additionally, we found that the gift wrapping market size could be triangulated using a similar approach. Due to time limits, we are proposing further research to estimate/triangulate the market size of gift wrapping in the United States.
    • Feel free to choose one or more of the proposed steps below.

Proposed next steps:

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