Online Gift Industry: UK and Global Outlook
To provide an overview of the online gift market globally and in the UK. including the market size and segmentation.
Information about the online gift market was not readily available after analyzing several industry reports. However, we were able to find a report that mentioned that the majority of gift cards were purchased online in 2019, which allowed us to estimate the size of the global online gift market. Our research has also showed that direct information about the online gift market in the UK might be just as unavailable and we will have to triangulate it using available data about the buying habits of UK customers.
Global Gift Industry
- The global gift cards market size was valued at $619.25 billion in 2019
- It is projected to reach over $1.9 billion by 2027, growing at a CAGR of 15.4%.
- The gift cards market is classified into open loop gift cards and closed loop gift cards, with closed loop gist cards heavily dominating the market
- The market is also segmented by end user, including gift cards sold by retails and corporate institutions.
- According to a report by Persistence Market Research, about 33% of the customers have been noted to buy online gift cards, which means that the global market for online gift cards amounted to $204.35 billion in 2019.
- That figure has drastically climbed to 65% as a result of the ongoing pandemic.
- The global corporate gift industry was estimated to be $125 billion in 2019.
- The global personal gift market will reach $25.8 billion in 2020 and is projected to reach $43.3 billion by 2027, growing at a CAGR of 7.7%.
- The personalized gift market is segmented into photo and non-photo gifts, with the non-photo gifts segment heavily dominating the market.
- It is estimated that the market for non-photo personalized gifts will reach $27.6 billion by 2027, growing at a CAGR of 7.1%, while the photo personalized gift market will grow at a CAGR of 8.8%
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