Personalised gifting to get more popular
According to market reports, as global retailing market increases, the revenue of the industry is expected to reach $77 billion by the end of 2022. This means that the gifting industry together with personal and corporate gifts will hold almost 80% of the retail market share. Whereas, personalised gift item market is currently valued at $31.63 billion, with gifts ranging from canvas prints, novelty products and eco-friendly gifts, according to reports.
Let’s find out what is driving the global personalised gifting market
1. Rising urban population, influence of social media and high disposable incomes is playing a pivotal role in increasing the popularity of personalised gifting market.
2. Emergence of new players and innovations in the market along with changing mind set of the consumers is driving demand for customised gifting products.
3. Tailor-made products are in demand and they now constitute almost $20.4 billion of the market share. In-addition a growing trend of green gifting is gaining momentum in India.
4. Presently, gifting is not only restricted to festivals or birthdays but is getting popular around unconventional events as well.
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