A gift can be given to show appreciation, as a thank you, as a praise or acknowledgement, as a token of love, a memorabilia piece, and in celebration of a special occasion or holiday.
It is so embedded in our social life that it seems like every calendar month you find yourself shopping a gift for a special birthday, event, celebration, or holiday.
But, just how big if this trend that keeps on gifting?
Here are some staggering numbers and statistics about gifts:
- The global gift market’s worth is currently estimated at $62 billion. (Wonder, Research and Markets). This number is limited only to traditional gift souvenirs, gift bags, and gift baskets. The number is much larger, into the trillions, when considering other categories, including gift cards, which is predicted to reach $1.4 trillion by 2026!
- The global gift wrapping industry is currently worth $17.43 billion. (Statista.com). It is predicted to reach $24.9 billion by 2025. It's no wonder that the US gift box industry is responsible for 2.3 million pounds of waste each year. (Earth911)
- Approximately 30% of Americans shop throughout the year for holiday gifts. (Gitnux.com) This means that a large group of people are consistently shopping for holiday gifts, even when its not the holidays yet.
- 62% of Americans prefer personalized gifts over costly store-bought items. (Vistaprint) It's no wonder that in 2020, the global personalized gift sector was worth $25.8 billion. (PR Newswire) More and more people appreciate a personalized gift much more than just a regular off-the shelf gift.
It is astonishing to think that the real worldwide industry market value related to gift giving is likely much higher than the statistic above show, considering that anything can be a gift. It's fair to say a lot of people have received a pair of clothing or kitchen appliance as a gift during their lifetime.
