Personalized Gifts Market Size, Share, Trends, Analysis and Forecasts To 2021
Market Research analysts forecast the global personalized gifts market to grow at a CAGR of 9.10 % during the period 2017-2021.
According to the report, one of the major drivers for this market is growing gifting culture and increasing demand for seasonal decorations. Today, consumers not only purchase items to gift others, but also for self-gifting. Consumers also purchase personalized gifts for self-use. Customizing gifts through personalization, configuration, or on-demand printing enables value- and differentiator-addition to general gifts to make them unique.
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Further, the report states that one of the major factors hindering the growth of this market is seasonal nature of business. The global gifts industry is driven to a large extent by seasonal sales. Seasonal fluctuations in demand can affect inventory levels and cash flow of retailers. In markets like North America and Western Europe, the tradition of gifting is generally higher during the winter holidays; in regions like APAC and Central and South America, sales are higher during the regional holidays and wedding seasons. Depending on the product mix, companies may register additional peaks during international holidays such as Easter, Valentines Day, and Mothers Day.
About Personalized Gifts
The global personalized gifts market is marked by the presence of both major global gift retailers and small- and mid-sized retailers. The 10 major retailers operating in this space are Hallmark, Disney, Spencer Gifts, Card Factory, American Greetings, CafePress, Cimpress, Shutterfly, PersonalizationMall. com, and Things Remembered. Most of these retailers have an omni-channel presence to improve their sustainability and to compete with big-box retailers, which sell gift items through brick-and-mortar as well as online retail channels.
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Covered in this report
The report covers the present scenario and the growth prospects of the global personalized gifts market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail