![]() ![]() 62% of Americans prefer personalized gifts over costly store-bought items. Interestingly, this is one of the rare industry sectors where the US has a lead over China - the US market is worth $7.6 billion, which is the value China is projected to reach by 2027. By current estimations, the gift industry revenue will reach $43.3 billion by 2027. As merchants find new ways to offer gift personalization to customers, the market’s worth keeps increasing. The demand for personalized gifts has been growing steadily over the past decade. In 2020, the global personalized gift sector was worth $25.8 billion. Interestingly, research reveals this is the period by which the majority of businesses in this sector break even and begin operating at a profit.ġ0. Starting at $120,000 in their first year, gift basket businesses can end their third year with $250,000 in revenue before taxes. Annual net earnings will depend on many factors, including the longevity of the venture. While gift baskets might seem outdated to some, data shows this niche can still be profitable for businesses. Gift basket industry statistics show that businesses in this sector average $65,700 per year in profit. Likewise, bows and ribbons are not recyclable. For example, it cannot be recycled if it has glitter, metallic elements, or lifted texture. And not all wrapping paper is recyclable. Most of the waste comes from materials like paper, aluminum, and plastic. Namely, 2.3 million of the 4.6 million pounds of wrapping paper produced each year ends up in landfills. The US gift box industry is responsible for 2.3 million pounds of waste each year.Īs much joy as a perfectly wrapped present may bring to the recipient, there’s a flipside one needs to consider. Due to the rise of ecommerce in recent years, merchants are continuously working on creating durable gift boxes that can withstand various transportation conditions. The demand for gift wrapping is especially visible with gift boxes. Predictions state that the market worth should reach $24.9 billion by 2025, continuing the steady growth from the previous years. The global gift wrapping industry is currently worth $17.43 billion. By that time, a small gift shop may be generating a revenue of $10,690 - and that’s excluding the $36,000 in payroll money. According to their projections, this number may go up to 5.75% in the second and 10.9% in the third year. But things improve the longer the store stays in business. An average gift shop generates $1,911 in revenue in its first year.īplans, a professional business plan development company, projects that a small gift shop will only manage to turn 2.92% of its sales into profits during its first year. As such, the projected 2021 revenue is 27.7% lower than what US gift and greeting card stores used to make before the pandemic struck. In 2019, these retail outlets generated $18.8 billion. However, it’s still insufficient to make up for that year’s massive drop in revenue. Greeting card and gift stores revenue in 2021 is projected at $13.6 billion.Īccording to gift industry market research, this number marks a 5.7% increase from 2020. On that note, 58% of US business owners say they’ve given the same amount or more gifts since switching to remote work. The shift to remote work amid the pandemic will be the main driver of this growth. The constantly expanding corporate market should reach $306 billion in revenue by 2024, growing at an annual rate of 8.1%. The US corporate giftware market will be worth $242 billion by the end of 2021.Įxperts continue to put emphasis on the corporate gift market as a great opportunity to advance the industry in general. Digital gift cards are growing faster than other sectors - this segment currently accounts for 11% of the entire market’s revenue and is projected to grow by 15.5% annually until 2027. By 2027, the worldwide market is expected to reach $2.7 trillion, growing at an impressive annual rate of 14.5%. China held the largest share at $608.1 billion, followed by the US at $278.8 billion. According to gift card statistics, the global market was worth $1 trillion in 2020.ĭespite COVID-19, the global gift card market continued to thrive in 2020. ![]() ![]() This happened in 2018 when the industry generated $18.96 billion in revenue, marking a new all-time high. Although the decrease wasn’t that drastic, it took an entire decade for these numbers to go back to their pre-2008 levels. In 2009, its revenue dropped even further to $15.08 billion. Since the beginning of the 1990s, the gift industry had been steadily increasing its annual revenue - until 2008 when it went down from $18.04 billion to $16.82 billion. ![]()
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