103+ Gift Giving Statistics: A Comprehensive Study 2024

We all struggle to find the perfect gift, especially when we want to see happiness in the eyes of our loved ones. But have you ever wondered about how much we actually spend and waste on gifts each year? Our Shared Secrets Lab (TSSL) has conducted an in-depth analysis of gift giving statistics and trends. It shows how much joy and waste are involved in our gift giving.

The global gift industry is valued at an astounding $72.56 billion in 2024.

Our lab suggests it will continue growing at an accelerated 3.74% CAGR through 2031.

However, more than $9.5 billion is wasted annually on unwanted gifts.

The average person wastes $71 on gifts that aren't appreciated.

So, why is there such a gap between what we give and what people actually want? Let’s explore the trends, facts, demographics, geographics and different gift-giving and receiving habits. Gain valuable insight into gift giving statistics and trends including market size, personalized gifts, holiday shopping, and future predictions. And finally, learn how people in different regions spend on gifts and what they prefer.

By the way, if you are looking to find a gift that everyone loves, check out my TEDx Talk below:

1. Global Gifts Market Overview

Global Gift Industry Statistics for Use in 2024

i) Global Gifting Market Size

1. How big is the global gifting market?

The global gifting market size is booming! It was valued at $65 billion in 2021 and is expected to reach $94 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.74%.

(Source: Businessresearchinsights)

2. How big is the global personalized gift market?

The global personalized gifts market size is showing significant growth! It was valued at USD 40.93 billion in 2022 and is projected to increase to USD 51.98 billion in 2024 and then USD 138.17 billion by 2030, with an annual growth rate of 12.97% from 2024 to 2030.

(Source: Market Research Future)

3. How big is the gift shop industry?

According to Business Research Insights, the global gift shop industry is expected to reach a market size of $94 billion by 2031, growing from $65 billion in 2021. This represents a steady annual growth rate of 3.74%.

ii) Global Gift Industry Statistics

4. What are the statistics of the gift industry?

• In 2021, the global gift market was worth around $65 billion.
• The US gift market is growing rapidly, expected to grow 5.2% every year from 2020 to 2025.
• The luxury gifts market globally is expected to reach $159.9 billion by 2027.
• About 40% people prefer to buy gifts from small or local shops.
• The estimated value of the global gift cards market for the year 2024 is estimated to be around US$ 480,560 million.

5. What are the gift market trends?

• According to Deloitte, about 36% of buyers say they prefer personalized gifts. This shows that adding a personal touch can make gifts feel more special.
• A Nielsen survey found that 46% of global consumers are more likely to buy eco-friendly products, including gifts.
• According to the FPAA in Australia, people spend nearly $20 billion on gifts each year.

6. What are the gifting trends in 2024?

• Canadians typically spend an average of $955 CAD on holiday gifts each year.
• The average American spends about $656 on gifts each year.
• 58% of women want jewellery as gifts.
• According to Bankrate, 54% of shoppers felt financially burdened during the holiday season, which affected their overall gift-purchasing decisions.
• According to a report by Adobe Analytics, $76.8 billion was spent in online gift shopping in October 2023 alone, setting a new record for digital gift purchasing.
• According to Adobe Analytics report, gift purchases through buy now, pay later (BNPL) services reached $8.3 billion in November 2023, an increase of 17% from the previous year.
• 23% of consumers reported that spending on holiday gifts puts a strain on their budget, yet holiday gift spending still increased by 3.1%, Bankrate reports.
• In 2022, a survey found that more than 20% of American consumers were influenced by social media when purchasing gifts.

7. What's trending in gift shops?

• 65% of consumers purchased personalized gifts last year.
• 80% believe personalized gifts are more thoughtful than non-personalized gifts.
• 42% plan to buy more personalized gifts in the future.
• According to FinancialExpress, 80% of people prefer eco-friendly gifts that send a positive message.
• According to Deloitte's 2023 Holiday Survey, 75% of holiday shoppers were interested in purchasing gifts for themselves, taking advantage of seasonal deals available.

iii) Global Gift Retailing Market Size, Share and Growth Analysis 2023-2032

8. What is the size of the global gift retail market?

According to Polaris Market Research, In 2022, the global retail gifts market was valued at $18.41 billion, and it is expected to grow at a steady CAGR of 3.26% during the forecast period (2023-2032).

9. What are the trends in the global gift retail market?

• The global retail gifts market size is valued to reach US$18.99 billion by 2023.
• The global retail gifts market size is projected to reach US$25.34 billion by 2032.
• According to market research, people spend more on luxurious and personalized gifts.
• Major sales increase during holidays like Christmas and Halloween.

10. Dynamics of the gift industry

According to Trade Economics, America's disposable income reached its highest level of US$21,826.63 billion in 2021. This higher spending power is likely to increase market demand in the coming years. Also, with the rise of online shopping, people can easily buy gifts from home, which helps in increasing sales.

A survey by PRICE shows that the portion of middle-class households in India earning between INR 5-30 lacs a year has grown from 14% in 2004-05 to about 31% in 2021, and it's expected to reach nearly 63% by 2047. As a result, the middle class will double in about 25 years. Additionally, as people earn more and their tastes change, there's a growing interest in more personalized and unique gifts, which also helps the market grow in this region.

2. Regional Gifts Market Insights

United States Gift Industry Statistics to Consider in 2024

i) US gifting market size

11. How big is the personalized gifting market in the US?

According to Research and Markets, The US personalized gifts market was valued at USD 9.07 billion in 2023 and is projected to reach USD 13.12 billion by 2029, growing at a rate of 6.34% each year.

(Credit: Research and Markets)

12. How many gift shops are there in the USA?

As of 2023, there are 54,863 gift shops and card stores in the United States. This represents a slight decrease of 0.6% from the previous year, 2022.

13. What was the total market value of the gift shops and card stores sector in the US during the year 2023?

According to IBIS World, in 2023, the total market value of gift shops and card stores in the US reached $24.5 billion.

14. What was the rate of growth for the Gift Shops & Card Stores industry in the US in 2023

The Gift Shops & Card Stores industry in the US grew by 3.2% in 2023.

15. Has the Gift Shops & Card Stores sector in the United States seen growth or decline over the last five years?

According to IBIS World, the gift shop and card store sector in the United States has grown at an average annual rate of 0.8% over the past five years, from 2018 to 2023.

ii) Latest gift giving statistics in the US

16. What are some of the most notable gift giving statistics in the USA?

In 2023, 43% of Americans said they would be happiest if they received money as a Christmas gift. (Source: Statista)

Over 80% of Gen X shoppers were price-sensitive when buying holiday gifts in 2023, though they also considered product reviews and ratings. (Source: Statista)

In the 2022 holiday season, about a third of U.S. shoppers planned to buy themselves gifts, spending between $100 and $200. It shows a growing trend of self-gifting! (Source: Statista)

In 2022, Generation X planned to spend the most on their family members during the holidays, about $890 each. (Source: Statista)

Millennials were the biggest spenders on friends during the 2022 holidays, averaging more than $200 per friend, significantly more than Baby Boomers. (Source: Statista)

iii) How are Americans spending on gifts?

17. What are the statistics for gift spending in the USA?

In 2023, the average American planned to spend about $923 on Christmas gifts, down slightly from last year. (Source: Statista)

In 2023, half of Gen Z and Millennials prioritized buying or giving personalized gifts, compared to only a quarter of Baby Boomers. (Source: Statista)

Over 80% of U.S. shoppers planned to use Amazon for holiday gift shopping in 2023. Walmart and Target were also popular, chosen by 58% and 42% of respondents, respectively. (Source: Statista)

As of September 2023, 63% of people preferred buying holiday gifts from online-only retailers. More than half liked shopping at big stores, but only a few chose to shop at discount stores, department stores, or clubs.

(Source: Statista)

(Credit: Statista)

18. How much does the average American spend on Christmas gifts?

According to InvestorPlace, the average American spends about $648 per person on Christmas gifts. This amount is part of the total $1,000 they typically budget for all their holiday expenses, including gifts, decorations, and food.

19. How much money is spent yearly on gifts and decorations in the United States?

According to recent data from the National Retail Federation (NRF), the average American spends $997.73 during the Christmas season.

Here's how $998 dollars are spent:

Type of Purchase	Average Spending	Percentage of Total Spending
Gifts for Family, Friends, and Colleagues	$648	64.9%
Non-Gift Holiday Purchases (Food, Decorations, etc.)	$231	23.1%
Other Non-Gift Expenditures for Friends or Family	$118	11.8%
Total	$998	-

iv) Gift tax in the US

20. What is the maximum gift tax in the US?

In 2023, you could give up to $17,000 to someone without worrying about gift tax. For 2024, this limit has increased to $18,000, so any gifts below this amount are tax-free.

(Source: IRS)

Canadian Gift Industry Statistics to Consider in 2024

i) Gifting Industry Market Size in Canada

21. What is the gift industry market size in Canada?

According to IBIS World, the Canadian gift market, which includes gift shops and card stores, was valued at $3.5 billion in 2023, growing at a CAGR of 1.2% over the past five years.

22. How big is the gift card industry in Canada?

According to Research And Markets, Canada's gift card industry is growing fast. It is projected to increase from $7.3 billion in 2023 to $7.7 billion in 2024. By 2028, it is expected to reach $9.4 billion, growing at a compound annual growth rate (CAGR) of 4.9%.

(Credit: Research And Markets)

ii) Canadian Gift Industry Statistics

23. Has the gift shops and card stores industry in Canada grown or declined over the past 5 years?

The gift shops and card stores industry in Canada has grown over the past five years, with an average annual growth rate of 1.2% from 2018 to 2023.

(Source: IBIS World)

24. What are the gift industry statistics in Canada?

• Gift shops across Canada earn anywhere from $30,000 to $5 million each year.
• On average, Canadians spend about $145 on wedding gifts.
• About 27% of people consider buying luxury gifts for weddings.
• 79% of Canadians would love to get an open-loop gift card.
• 57% of Millennials are likely to get an open-loop gift card as a gift.

25. Canadian gift card industry statistics

In a recent survey, 1,563 Canadians shared their favorite gifts to give and receive. Gift cards topped the list, followed by accessories and clothing (40%), DVDs and books (32%), electronics like computers and phones (26%), and gaming gear (11%). Interestingly, one-third of Canadians have given an open-loop gift card, and 45% have received one, showing just how popular these flexible gift options are.

(Source: ReviewMoose)

(Credit: ReviewMoose)

iii) How are Canadians spending on gifts?

26. How have Canadians' gift spending habits changed over the years?

In 2020, Canadians spent an average of $630 on gifts during the pandemic, tightening their budgets due to economic uncertainties. By 2021, spending bounced back to $669, even surpassing the average of $647 spent in 2019, before the pandemic hit.

Looking ahead to 2023, spending habits are a mix of caution and consistency. According to an Ipsos poll, 29% of Canadians plan to spend less on gifts than they did in 2022, while about 49% expect to spend the same amount as last year. This shows that while some are still watching their budgets closely, many feel ready to maintain their usual holiday spending.

27. How much does the average Canadian spend on gifts?

According to a recent poll by Simplii Financial, Canadians usually spend around $650 on gifts.

28. How many gift, novelty and souvenir stores were there in each province of Canada in 2023?

As of June 2023, Ontario had around 694 gift, novelty, and souvenir stores. In contrast, Nunavut had only seven stores. (Source: Statista)

(Credit: Statista)

29. How much does the average Canadian spend during the holiday season?

According to recent data from PwC, the average Canadian spends $1,635 during the holiday season.

Here's how $1,635 is spent:

Type of Spending	Average Spending	Percentage of Total Spending
Gifts	$744	45.5%
Travel	$687	42%
Entertainment	$204	12.47%
Total	$1635	-

iv) Gift Tax in Canada

30. How much gift is tax-free in Canada?

In Canada, you can give someone up to $15,000 each year without any gift tax, and you don’t have to report it to the Canada Revenue Agency.

Indian Gift Industry Statistics to Consider in 2024

i) Gifting Industry Market Size in India

31. How big is the gifting market in India?

According to Research And Markets, India's gifting market reached a value of USD 72.56 billion in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 3.4% from 2023 to 2029.

(Credit: Research And Markets)

32. How big is the gift card market in India?

The gift card market in India was valued at USD 36.16 billion in 2023 and is expected to grow to USD 65.57 billion by 2028, with a compound annual growth rate (CAGR) of 12.6%.

(Source: Research & Markets)

(Credit: Research And Markets)

33. What is the gifting market in India in 2024?

According to TechSci Research, by 2024, the gifting market in India is expected to reach about $74.99 billion. This growth is part of a steady increase, with an annual growth rate of 3.35% from 2023 to 2028. It shows that whether for personal celebrations or corporate events, gifting is becoming more and more popular in India.

34. What is the future of the gift industry in India?

The future of India’s gift industry looks really promising for the period between 2025 and 2029. It's already a booming market, valued at $72.56 billion in 2023. With an annual growth rate of 3.35% expected from now until 2028, the strong tradition of gift-giving in India clearly continues to thrive. As more people choose personalized and eco-friendly gifts, the market is set to evolve and expand. We can expect to see some exciting new trends and changes in the coming years!

(Source: TechSci Research)

ii) Indian Gift Industry Statistics

35. What are the statistics of the gift industry in India for 2024?

• According to Research And Markets, the gifting market in India is expected to reach $75.02 billion in 2024.
• According to Research And Markets, by 2029, India's gifting market is expected to reach a massive $87.12 billion.
• 33% of Indian consumers prefer ordering gifts online to be shipped directly to the recipient.
• Another 33% opt to buy gifts locally and personally deliver them during Diwali.

36. What are the statistics of the Diwali gifts market?

The Diwali gifting market in India is substantial and continues to expand at a brisk pace. According to a 2023 report by Technopak Advisors, the market is currently valued at over ₹2 lakh crore (approximately US$27 billion), marking a notable rise from ₹1.5 lakh crore (about US$20 billion) in 2022.

Did you know that during Diwali, people in India buy over 50 million gifts? That's a lot of presents! According to Technopak Advisors, the market for these gifts is huge—worth about ₹2 lakh crore. And get this: that’s just two-thirds of the whole world's Diwali gifting market, which reaches over ₹3 lakh crore. Diwali really is a big deal when it comes to gift-giving!

iii) How are Indians Spending on Gifts?

37. What are the current statistics in Diwali gifting?

• Eco-Friendly Gifts: People are loving gifts that are kind to the earth. In fact, 80% of shoppers now go for gifts that are good for the environment. Things like biodegradable decorations and cards that grow into plants are really popular.
• Practical Gifts: Gifts that can be used every day are catching on. Companies are choosing useful items, like wellness products from The Body Shop, which they expect will be a big hit.
• Chocolates: Chocolates are still a hot favorite for Diwali. The chocolate market in India is booming and is expected to almost double by 2028, reaching $4.1 billion. People love giving and receiving customized and branded chocolates.
• Traditional Sweets: Even with all the chocolates, traditional sweets like soan papdi and gulab jamun are still essential during Diwali. The market for these sweets is growing fast and is expected to reach over 15,000 crores by 2028.

38. How are Indians choosing digital gift cards for holiday gifts?

• A huge 93% of Indians think digital gift cards are perfect for holiday gifts.
• About 46% of people say gift cards are easier to send than traditional gifts. That’s why they prefer them.
• Nearly all, 94% to be exact, plan to buy their gift cards online, showing how popular online shopping has become.
• While 87% are okay with physical gift cards, even more, 93%, prefer digital ones.
• The top picks for gift cards include Online Retailers (95%), Clothing and Accessories (90%), Grocery (86%), Personal Care/Beauty (85%), and Restaurants/Dining (84%).

(Source: CXO today.com)

39. How much does the average Indian family typically spend on Diwali gifts?

According to News18, the average Indian spends approximately ₹5,000 on gifts during Diwali celebrations each year.

Iv) Gift Tax in India

40. How much amount of gift is tax-free in India?

In India, gifting is a big part of our traditions, especially during special occasions. But did you know there's a tax rule for larger gifts? According to the Income Tax Act, any gift worth more than Rs. 50,000 is taxable. So, if you're planning to give someone a generous gift, keep in mind that if it's over this amount, they'll need to pay tax on it.

China Gift Industry Statistics to Consider in 2024

i) Gifting Market Size in China

41. How big is the gifting market size in China?

In 2023, the gift industry in China was valued at nearly 1.3 trillion yuan and is expected to grow to 1.6 trillion yuan by 2027. During holidays, Chinese consumers particularly enjoy purchasing prepared gift sets and boxes, which often include specialty foods, clothing accessories, and creative cultural products.

(Source: Statista)

(Credit: Statista)

42. How big is the gift card industry in China?

The gift card industry in China is growing rapidly, projected to expand from $163.6 billion in 2023 to $227.6 billion by 2028, at an annual growth rate of 6.6%.

(Source: Research And Market)

(Credit: Research And Market)

43. What is the future of the gift industry in China?

The future looks bright for the gift industry in China. As of 2023, the market was valued at nearly 1.3 trillion yuan, and it's expected to climb to 1.6 trillion yuan by 2027. During holidays, Chinese shoppers particularly love buying prepared gift sets and boxes that often include special foods, clothing accessories, and creative cultural products. This trend suggests a growing appreciation for curated and thoughtful gifts, indicating a strong and evolving gift-giving culture in China.

(Source: Statista)

ii) Chinese Gifting Industry Trends

44. 2024 Chinese New Year gift trends

From 2018 to 2023, China's gift market grew from 800 billion to nearly 12998 billion yuan, with expectations to hit around 16197 billion yuan by 2027.

Consumers in second and third-tier cities are buying more gifts, while those in fourth-tier and smaller cities tend to spend over 300 yuan on their purchases, making up 21.2% of the market.

In 2024, there's a big shift towards health and wellness products. Instead of traditional luxury items, folks are opting for gifts like nut gift boxes, tea gift boxes, and other health-related items.

The favorite gifts for the New Year are nut gift boxes (46.30%), tea gift boxes (36.40%), and liquor gift boxes (34.45%).

(Credit: Iimedia Data Center)

45. What are the trends in the Chinese gift industry for 2024?

When it comes to buying gifts, people prefer quality over quantity. They seek products that are well-made, using the finest materials and featuring unique designs. In fact, 60.11% of consumers consider quality the most important factor, followed closely by brand (59.55%) and reputation (53.70%).

(Credit: Iimedia Data Center)

46. What are the statistics for the Chinese gift industry in 2024?

• The gift industry in China mainly consists of small and medium-sized companies. In total, there are over 100,000 small and medium enterprises and around 4,000 larger companies.

• A significant portion of the orders are quite small in size. More than half of the orders from single suppliers include less than 10,000 pieces each.

• The majority of orders, over 60%, are each worth less than 3 million yuan.

• Around 75% of the orders comprise fewer than 300 pieces, showing that smaller transactions are common.

(Source: China Daily)

iii) How Much are Chinese People Spending on gifts?

47. What is the annual spending on gifts per person in China?

In China, the average annual spending on gifts per person among high-net-worth individuals is quite substantial. Specifically, Chinese men spend around 283,000 yuan each year on gifts. (Source: Statista)

48. What are the trends in Chinese Spring Festival gift-giving?

A lot of people, about 62%, are choosing to give beverages as gifts. Snacks and health products like vitamins are also popular, with more than half opting for these.

(Source: Statista)

When picking out gifts, folks really think about who they’re for, considering their interests, age, gender, and what they do for work. This way, they make sure the gifts are both liked and useful.

Traditional Chinese liquor is a big favorite, especially among young families, with its sales jumping 13.7% during the Spring Festival in 2023. (Source: eBest)

49. How much do the Chinese spend on Valentine's Day gifts?

On Valentine's Day in China, a lot of people really splurge on gifts. From a survey done in 2019, about 35% of folks spent over 1,000 yuan on Valentine's gifts. Also, it turns out that most of the spending, about 85%, is done by men. This shows just how big of a deal Valentine's Day is and how it's often the guys who are opening their wallets for this special day.

(Source: Statista)

iv) Gift Tax in China

50. How much amount of gift is tax-free in China

In China, you don’t have to worry about paying taxes on gifts because there are no inheritance, estate, or gift taxes. This means any gift you give or receive, no matter the value, is completely tax-free.

(Source: Tax Summaries)

Australia Gift Industry Statistics to Consider in 2024

i)Gifting Market Size in Australia

51. What is the gift card market in Australia?

Australia's gift card market is really picking up steam. Over the next few years, from 2024 to 2028, it's expected to grow by 8.3% each year. This means that from a starting point of $6.7 billion in 2023, it's going to jump to $10.1 billion by 2028. It's clear that more and more people are finding gift cards a super convenient choice for both personal and business gifts.

(Source: Research And Market)

Future Market Scenario:

Market Projections	Market Statistics
Forecast Period	2024 - 2028
Estimated Market Value (USD) in 2024	$7.3 Billion
Forecasted Market Value (USD) by 2028	$10.1 Billion
Compound Annual Growth Rate	8.3%
Regions	Australia

(Credit: Research And Market)

52. How big is the gifting market in Australia?

According to the Financial Planning Association of Australia, the gifting market in Australia is valued at around $19.8 billion AUD.

53. How big is the online corporate and promotional giftware market in Australia?

According to IBISWorld, the market size of the Online Corporate and Promotional Giftware Sales industry in Australia is estimated at $188.6 million in 2024. This reflects the growing trend of businesses using online services to find and customize promotional items that help enhance their brand and connect with customers.

ii) Gifting Industry Statistics in Australia

54. What are some of the most notable gifting industry statistics in Australia?

Here are some cool gifting industry statistics in Australia:

• Loving to Give: Most Australians, about 85%, actually enjoy giving gifts more than getting them. It seems like giving makes them happier!
• Women and Gifting: It turns out that women especially love giving gifts. Around 88% of women get more joy from giving than receiving, compared to 83% of men.
• Age Matters: When it comes to enjoying gift-giving, older folks, like the Baby Boomers, are really into it—90% of them prefer giving to receiving. Younger generations like Gen X and Gen Y are also pretty generous, with 84% enjoying giving more, but this dips a bit to 78% for the youngest crowd, Gen Z.
• According to research by Canstar Blue, Australians spend an average of $77 per month on mobile phone plans.

55. What are the gift giving statistics in Australia?

Here's a simple breakdown of the latest gift giving statistics in Australia:

• Who plans ahead? More women than men buy gifts in advance—31% of women compared to 24% of men.
• Age matters: Younger folks like Gen Z and Gen Y often buy gifts in batches—37% of Gen Z and 35% of Gen Y do this. In contrast, only 28% of Gen X and 19% of Baby Boomers shop this way.
• Family habits: Families are big on batch buying, too. Nearly half of families with younger kids (44%) and 40% with teenagers buy gifts in bulk, probably because it helps manage a hectic family schedule.
• Last-minute shopping: A good chunk of people (36%) buy gifts just in the nick of time, right before they need them.
• Young and rushed: Young couples and singles are especially prone to last-minute shopping, with 41% grabbing gifts within days or even hours of an occasion.

iii) How Much are Australians Spending on Gifts?

56. How much does the average Australian family spend on gifts per month?

Here’s what the average Australian spends on gifts per month by age group:

	Gen Z (18-24)	Gen Y (25-39)	Gen X (40-54)	Boomers (55-73)
Average gift spend per month	$91	$130	$87	$89

(Source: Financial Planning Association of Australia)

57. How much does the average Australian spend on gifts during the Christmas season?

According to recent data from Monash, the average Australian spends $1088 during the Christmas season.

Here's how $1088 dollars are spent:

Type of Spending	Average Spending	Percentage of Total Spending
Gifts for immediate family	$427	39.24%
Gifts for extended family	$246	22.61%
Gifts for Friends	$149	13.69%
Gifts for themselves	$266	24.44%
Total	$1088	-

58. How much does the average Australian spend on gifts for loved ones?

According to data from FPAA, the average Australian spends $1114 on gifts for loved ones.

Here's how much the average Australian adult spends on gifts for loved ones:

Recipient	Average Spending	Percentage of Total Spending
spouse or partner	$437	39.22%
children	$361	32.40%
parent	$201	18.04%
pet	$115	10.32%
Total	$ 1114	-

59. What percentage of Australian pet owners purchase gifts for their pets?

• About 74% of pet owners in Australia buy gifts for their pets.
• On average, Australians spend about $115 each year on gifts.
• Breaking it down by age, Gen Y pet owners spend about $121 a year on gifts for their pets, while Gen X tops that with around $142 a year.

(Credit: FPAA)

iv) Gift Tax in Australia

60. Are gifts tax deductible in Australia?

• Employee Gifts: Non-entertainment gifts given to employees that cost less than $300 per person are tax-deductible and exempt from Fringe Benefits Tax (FBT). Common examples include skincare products, wine, or gift vouchers. If the cost exceeds $300, FBT applies, and the tax effectiveness decreases. (Source: Myob)
• Political Donations: Contributions to registered political parties or independent candidates are also deductible. The donation must be more than $2, and the maximum you can claim in a year is $1,500 for gifts to political parties or independent candidates. (Source: ATO)
• Non-Deductible Gifts: Any gifts that provide a personal benefit to you, like raffle tickets, club membership fees, or gifts to friends and family, are not deductible. Similarly, gifts purchased through crowdfunding platforms are not deductible unless the platform is a registered DGR.

UK Gift Industry Statistics to Consider in 2024

i) Gift Industry Market Size UK

61. How big is the gifting market in the UK?

The UK gifts market is really huge, worth around £60 billion. This shows how much people in the UK enjoy giving gifts on all kinds of occasions, or even just to make someone's day special. (Source: MHA)

62. How big is the UK gift card market?

According to Research and Markets, the UK gift card market is growing fast. It's projected to increase from $10.1 billion in 2023 to $13.7 billion by 2028, with an annual growth rate of 6.0%. Gift cards are becoming a popular choice because they are convenient for both the giver and the recipient.

(Credit: Research and Markets)

ii) Gift Industry Statistics UK

63. What are the gift industry statistics in the UK?

• Most people in the UK buy gifts for 6-10 people, spending £30-£50 per person during Christmas.
• About 86.5% of women handle gift shopping in their households, compared to 65.4% of men.
• 88% sometimes struggle to come up with gift ideas, especially for partners.
• Over half plan to spend less on Christmas gifts this year due to higher living costs.
• 80% think they are good at choosing gifts, but many have received gifts they didn’t like.
• Most people prefer giving gifts rather than receiving.
• 28% have bought second-hand gifts; 73% would be happy to receive them.

ii) How Is Spending on Gifts in the UK?

64. Which UK cities are the most generous with gifts?

Looking at how much people spend on gifts, London tops the list in the UK. But if we compare what they spend with how much they earn, Londoners actually spend a smaller share of their wage on gifts—about 2.8% of their weekly income.

Meanwhile, people in the South East are also big spenders, averaging £18.59 per gift, which is the second highest. On the other hand, those in Yorkshire and the Humber spend the least. Interestingly, folks in the North West are the most generous in terms of the percentage of their wage they're willing to spend on gifts, with some spending between 2.9% and 3.5% of their weekly earnings on a present.

(Credit: Arena Flowers)

65. What do people spend on Christmas gifts in the UK?

In a survey, people were asked how much they usually spend on Christmas gifts. They chose from several spending brackets. Most people spend between £20 and £50 on each gift. The most common choices were £20 - £30 by about 22% of respondents and £30 - £50 by about 27%. This suggests the average spend per gift is around £30. This shows most people prefer giving gifts that are thoughtful without being too expensive.

(Source: Create Gift Love)

(Credit: Create Gift Love)

iv) Gift Tax in UK

66. How much money can you gift without paying tax UK?

In the UK, you can give up to £3,000 as gifts each year without any tax on it. This makes it easy to gift money for special occasions without the extra cost.

(Source: Western Union)

3. Exploring the Art of Gift Giving: What the Statistics Say

i) What Kind of Gifts Do People Like?

67. Unbranded gifts are preferred

A huge 87% of people prefer to give gifts without a brand logo. It shows that what really matters in gift-giving is the thought behind it, not advertising a brand.

68. Gifting is key for businesses

An amazing 97% of professionals agree that gifting is crucial in business. It's not just about being nice; it’s a smart move. Gifts can show clients they're valued, boost employee morale, and strengthen business relationships.

69. Everyone likes to receive gifts

Nearly everyone, 99% to be exact, loves receiving gifts. Gifts can make a real connection and create memorable moments, whether they’re surprises or expected.

70. Surprises are still special

In our digital world, 85% of people still love surprise gifts more than expected ones like digital cards or gift links. Surprises make gifting even more exciting.

71. Branded gifts don’t last

Our survey found that 53% of people tend to ignore gifts with company logos. This tells us it's better to give gifts that feel personal and really connect with the person receiving them.

72. Automated gifting works

A whopping 91% use automated programs to send gifts, which helps keep things efficient yet personal. These programs make sure the gift feels special, making you look good.

ii) Gift Giving Challenges and Behavior

73. How many people struggle with gift giving?

Many people find gift giving to be a challenging task. About 40% of people generally feel pressure when giving gifts. This feeling intensifies among millennials, with 60% struggling to find the perfect gift. Similarly, 53% of Americans share this sentiment, and nearly half, or 48%, feel pressured when the gift recipient is someone they don't know very well. This widespread anxiety highlights how common it is to feel uncertain or stressed about choosing the right gift.

(Source: Lindtusa)

74. What percentage of people return gifts?

About 40% of consumers plan to return at least one gift they receive this holiday season. Additionally, the process of returning gifts is becoming costlier, as an increasing number of retailers are now charging for return shipping—a trend noted by the logistics company Narvar, which reports that 40% of companies are adding a fee, an increase from 31% last year. This reflects a significant change in the retail landscape, where both consumers and companies are adapting to the financial aspects of gift returns.

(Source: Cbsnews)

iii) How Much Do People Spend on Gifts?

75. Which country spends the most on Christmas gifts?

In 2022, the United States topped the charts for average spending on Christmas gifts. It was the biggest importer of Christmas decorations and related goods, bringing in over €3.5 billion worth of festive items. This shows just how big the holiday season is in the U.S., with Americans going all out on their Christmas celebrations.

(Source: Statista)

(Credit: Statista)

76. How much do consumers spend on gifts?

According to a recent poll, a significant majority of consumers are active during the shopping season, with 88% of adults participating to some degree. Here's how their spending breaks down:

• 58% of consumers plan to spend at least $500 on gifts.
• Within this group, 37% expect to spend $1,000 or more.
• 26% of shoppers will spend between $100 and $499.
• A smaller portion, 4%, will spend less than $100.
• Only 9% say they won’t spend anything on gifts this season, and another 4% did not specify their spending plans.

(Source: Gallup )

(Credit: Gallup)

77. How much money is spent on unwanted gifts?

On average, each adult receives unwanted gifts valued at about $71. This statistic highlights a significant amount of money spent on gifts that may not hit the mark, suggesting a need for more thoughtful or tailored gift-giving strategies to ensure that presents are both appreciated and useful.

(Source: Finder)

78. How much does the average family spend on gifts?

According to the National Retail Federation (NRF), in 2022, the average American family planned to spend about $826 on Christmas-related expenses, which includes gifts, food, and decorations. Out of this amount, approximately $500 was specifically earmarked for buying gifts for family members. Popular gift choices among consumers are typically clothing, toys, and gift cards, with about 76% of shoppers purchasing each of these items every year. This spending pattern underlines how significant holiday gifting is to many families, contributing to both economic activity and festive cheer.

79. What is the average cost of gifts?

On average, people usually spend between $50 and $100 on gifts. This amount allows for a thoughtful gift without breaking the bank.

80. What is the average amount people spend on a gift for a close friend or family member?

On average, people spend between $25 and $75 on gifts for close friends or family members.

81. What percentage of people prefer to give experience-based gifts over physical items?

A striking 92% of participants in a recent survey expressed a preference for receiving experiences rather than physical gifts, a notable increase from 77% the previous year.

(Source: Skift)

82. How much does the average gift shop make?

The income for a gift shop owner can really vary. On average, owners might take home about $800 a week, but this can swing 80% higher or lower based on things like where the shop is located, how big it is, and how sharp the owner's business skills are.

Profit-wise, gift shops generally see about a 40% profit margin. This means after covering all the costs to run the shop, they keep 40% of the sales as profit. However, this number can change depending on what they sell, the size of their store, and how tough the competition is in their area. So, running a gift shop can be quite rewarding, but it also comes with its challenges.

(Source: Starter Story)

4. The Surprising Truth About Unwanted Gifts

How Do Unwanted Gifts Affect Us?

83. How much money is wasted on unwanted gifts every year?

Every year, people waste more than $9.5 billion on gifts no one wants. This highlights how important it is to choose gifts carefully to ensure they are appreciated and used, helping to reduce wastage and making gift giving more special .

84. How much money on average does a person waste on unwanted gifts per year?

According to a Finder.com survey, a person wastes approximately $71 on unwanted gifts every year. This highlights the need to choose gifts thoughtfully, ensure they are appreciated and minimize wastage.

85. What percentage of Americans dislike at least one gift they receive every Christmas?

According to a survey by Finder.com, more than half of Americans dislike at least one gift they receive each Christmas.

86. What are some surprising statistics about unwanted gifts and holiday spending?

• Each year, more than $9.5 billion is spent on gifts that recipients don't want.
• On average, individuals waste $71 annually on gifts that are not appreciated.
• Over half of Americans report that they don't like at least one gift they receive each Christmas.
• The average person receives about two unwanted gifts every year.
• Clothes and accessories top the list of unwanted gifts, with 46% of respondents expressing dissatisfaction.
• Household items come in second place among the most unwanted gifts.
• Nearly 1 in 5 people think their spouse is "disappointing" at gift buying.
• Friends are the most common people who give unwanted gifts, followed by parents, in-laws, and partners.
• 21% of men and 8% of women admit to intentionally buying a bad gift.
• About 4% of people say that they do not enjoy Christmas.
• 1% of people say their favorite part of the holidays is getting drunk.
• Cosmetics and fragrances often fall into the category of unwanted gifts, coming in at third place.
• Books and technology also often appear on the list of unwanted gifts.

5. Pets and Valentine's Day Through the Lens of Data

i) Pet gifting trends, statistics, & spending habits

87. Top holiday gifts for pets in 2024

What are pets getting for Christmas this year? According to a survey conducted by USA Today, here's what pet parents are buying:

• Food: 60% of pet owners are treating their pets to special holiday treats.
• Toys: 58% are buying toys to keep their furry friends entertained.
• Clothes: 49% are dressing up their pets in festive outfits.
• Comfort Items: 46% are getting cozy beds and blankets.

Not only are food and toys popular, but many pet owners are also treating their pets to extra special experiences:

• Grooming: 30% are paying for grooming services.
• Portraits: 28% are capturing holiday memories with pet photos.
• Spa Days: 23% are pampering their pets with spa treatments.

(Credit: USA Today)

88. How many percent of people buy gifts for their pets?

A survey conducted by USA Today found that 81% of people buy holiday or Christmas gifts for their pets. So when you’re picking out holiday gifts, don’t forget to include something special for your furry friends!

89. What percentage of people give their pets a gift on Valentine's Day?

About 20% of pet owners buy Valentine’s Day gifts for their pets. It’s a fun way to show some extra love to our furry family members on this special day!

90. Which age group buys the most gifts for their pets?

People between the ages of 25 to 34 buy the most gifts for their pets, according to a survey by the Global Pet Industry. Also, it turns out men are a bit more likely than women to buy their pets a gift on Valentine's Day, with about 35% of men doing so compared to 27% of women. This age group really enjoys spoiling their furry friends!

91. Household income influences pet gift giving trends

SoFi's research shows that people with higher incomes tend to spend more on their pets' gifts. If someone often buys luxury items for themselves, they might do the same for their pet. For example, some buy expensive designer clothes for their dogs.

Here’s how income levels impact spending on pet gifts:

• 42% of people making over $100,000 a year spend more than $100 on pet gifts.
• Only 12% of those making less than $100,000 spend that much on their pets' gifts.

(Credit: SoFI)

92. Holiday Spending on Pet Gifts

A USA Today survey found that 15% of people will spend between $51 and $75 on holiday gifts for their pets this year. But some pet owners are planning to spend even more. About 11% will shell out between $126 and $150, 7% are ready to spend between $201 and $500, and another 6% will go above and beyond, spending over $1,000.

(Credit: USA Today)

93. Holiday Gift Spending: Cat vs. Dog Owners

This holiday season, the friendly rivalry between cat and dog owners is all about how much they spend on their pets. Our survey shows what cat and dog owners are planning to spend on holiday gifts.

Most cat owners (45%) and dog owners (43%) will spend $100 or less on their pets. A good number of them, 34% of cat owners and 36% of dog owners, plan to spend between $101 and $200.

Interestingly, about 7% of both groups are ready to splurge, spending over $1,001 on gifts for their pets.

Although the spending habits are quite similar, dog owners are a tad more likely to buy gifts—82% of them plan to get something for their dogs, compared to 81% of cat owners.

It looks like both cat and dog lovers are quite generous when it comes to their furry friends during the holidays!

(Credit: USA Today)

94. Which generation spends the most on holiday gifts for pets?

This year, Gen X is leading the way in buying holiday gifts for pets. A big 86% of people aged 43 to 58 say they plan to buy, or have already bought, gifts for their pets.

Not far behind are the young adults of Gen Z, ages 18 to 26, with 84% planning to spoil their pets this holiday season.

Both generations are also spending more than they did last year. 47% of Gen X and 44% of Gen Z say they'll spend more on pet gifts this year.

It looks like pets from both generations are in for some extra treats this holiday!

(Credit: USA Today)

ii) Valentine's Day Gift Giving Trends, Statistics, & Spending Habits

95. What are the Valentine's Day gift giving trends?

According to GeoPoll's findings, here's how people are thinking about gift giving this Valentine's Day:

• 84% ​​are planning to buy gifts for their loved ones.
• 56% will not buy gifts.
• 60% are still unsure.

(Credit: GeoPoll)

96. What gifts can loved ones expect to receive this year?

Here’s what’s popular:

Candy tops the list, with 57% of people choosing sweets. Greeting cards are a close second at 40%, followed by flowers at 39%. Planning a special night out? You're not alone—32% are doing the same.

Others are opting for jewellery (22%), clothing (21%), and gift cards (19%). Whatever you choose, it’s clear there’s a favorite for everyone this year.

(Credit: NRF)

97. What is your ideal Valentine's Day gift?

The GeoPoll survey shows that jewellery and watches are the top choices for Valentine's Day gifts, with 11.81% of people choosing them. Flowers are also popular, with 11.07% of respondents liking them and chocolates close behind with 10.73%. Interestingly, 10.54% of people would like to receive money as a gift.

(Credit: GeoPoll)

98. What are the top gifts for Valentine's Day?

According to findings by GeoPoll, when it comes to Valentine's Day gifts, traditional choices are still in the lead. Chocolate is the most popular, with 14.63% of people planning to give it, closely followed by flowers at 14.41%. Jewelry and watches also make the list, chosen by 12.46%.

(Credit: GeoPoll)

99. How much money is spent on Valentine's Day gifts?

This Valentine's Day, people are spending big! The National Retail Federation says consumers spend about $25.8 billion in total. Each person spends around $185.81 on average. It shows we really like to spoil our loved ones with special gifts!

100. Valentine's Day spending trends among 35-44 age group

Last year, we saw a lot of people spending on Valentine’s gifts for friends, coworkers, and teachers. This year, things are going back to normal with a focus on partners. People aged 35 to 44 are leading this trend. They’re not just spending the most on gifts for their significant others; they’re also the top spenders on gifts for pets.

(Credit: NRF)

6. Future Trends & Predictions for the Global Gifting Market

i) Bright Future of the Global Gift Retail Market

101. What does the future hold for the global gift retail market?

The global gift retail market is set to grow significantly. Starting from $65 billion in 2021, it is expected to reach $94.044 billion by 2031. This means an annual growth rate of 3.74%. This growth shows that personal and corporate gift giving is becoming more popular, which suggests that people and companies will continue to invest in gifts as a way to connect and celebrate.

(Source: Business Research)

(Credit: Business Research)

ii) Personalized Gifts: Big Growth Expected by 2030

102. What is the future of the personalized gifts market?

The market for personalized gifts is booming. Its value in 2022 was $40.93 billion and is expected to increase to $51.98 billion by 2024. It is expected to reach $138.17 billion by 2030. This growth, at a rate of 12.97% each year from 2024 to 2032, is driven by more people choosing customized gifts. As people continue to value unique, handmade gifts for their loved ones, the demand for personalized gifts continues to grow.

(Source: Market Research Future)

(Credit: Market Research Future)

Future market outlook for global personalized gifts:

Market Projections	Market Statistics
Forecast Period	2024 - 2032
Estimated Market Value (USD) in 2022	USD 40.93 Billion
Estimated Market Value (USD) in 2023	USD 51.98 Billion
Forecasted Market Value (USD) by 2032	USD 138.17 Billion
Compound Annual Growth Rate (CAGR)	12.97% (2024-232)
Regions	The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

103. Insights on personalized gifts for different end-users

In the personalized gifts market, the main groups are women, unisex, children and men. In 2022, gifts for everyone, or unisex gifts, were the most popular. This segment is expected to grow the fastest by 2030. This growth is driven by more people hosting parties, celebrating festivals of different cultures and enjoying gift giving.

As more people are looking for special and meaningful gifts, the demand for personalized items is increasing. Whether it's for a party, a festival, or just a thoughtful gift, choosing something personalized can make any occasion more special.

(Credit: Market Research Future)

104. Regional trends in the personalized gifts market

According to data from Market Research Future, the personalized gifts market is segmented across North America, Europe, Asia-Pacific, and the Rest of the World. Europe was the leader in 2022, bringing in USD 13.01 billion, which represents about 45.80% of the market share. This region is expected to see significant growth, largely driven by the rise of e-commerce.

In Europe, the growth is also supported by increasing living standards and a shift towards handmade, eco-friendly gifts. Consumers are increasingly opting for personalized gifts over traditional ones, looking to celebrate each occasion with a unique touch.

The study also includes major countries such as the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil. Each of these countries is contributing to the trend of choosing personalized gifts that make every occasion special.

(Credit: Market Research Future)

7. FAQs

1. How big is the global gifting market in 2024?

The global gifting market is huge, reaching an estimated $72.56 billion in 2024. This shows that people around the world love giving gifts that feel personal and special. This trend is growing, and businesses like ours are here to help you find the perfect personalized gifts.

2. What changes are happening in the personalized gift market?

The market for personalized gifts is growing rapidly. It is expected to reach $138.17 billion by 2030. More people want gifts that are made just for them, like engraved watches or custom-printed T-shirts. This change is because everyone wants to feel that their gifts are unique and special.

3. What are the latest trends in gifts?

The latest trends in gifts:

• Eco-friendly Products: Reusable water bottles, biodegradable phone cases, and organic cotton tote bags.
• Customizable Tech Gadgets: Personalized power banks, and custom wireless chargers.
• Artisan Gifts: Custom-engraved wooden plaques, branded ceramic mugs, and personalized leather journals.
• Experience Gifts: Promotional tickets to virtual concerts, custom-branded online cooking class vouchers, and personalized fitness session passes.
• Wellness Gifts: Branded yoga mats, custom aromatherapy kits, first aid kits and personalized wellness journals.

4. What factors are driving the growth of the giftware market?

The giftware market is booming thanks to more people shopping online, spending more on holidays, and loving personalized gifts. For example, during the last holiday season, spending on gifts increased by 5% compared to the previous year.

5. Is the gift industry growing?

Yes, the gifts industry is growing and valued at $65 billion in 2021, it is projected to grow to $94 billion by 2031, growing at a steady compound annual growth rate (CAGR) of 3.74%. This growth is driven by increasing demand for personalized and eco-friendly gifts.

REFERENCES

https://www.businessresearchinsights.com/market-reports/gifts-retailing-market-102467

https://www.marketresearchfuture.com/reports/personalized-gifts-market-10348

https://www.polarismarketresearch.com/industry-analysis/gifts-retailing-market

https://www.statista.com/statistics/246963/christmas-spending-in-the-us-during-november

https://www.ibisworld.com/canada/market-size/gift-shops-card-stores

https://www.researchandmarkets.com/report/canada-gift-card-market

https://reviewmoose.ca/blog/gift-industry-statistics/

https://www.pwc.com/ca/en/industries/consumer-markets/holiday-outlook-canadian-insights.html

https://www.techsciresearch.com/report/india-gifting-market/4593.html

https://cxotoday.com/press-release/93-of-indians-surveyed-strongly-believe-that-digital-gift-cards-are-appropriate-holiday-gifts-blackhawk-networks-holiday-gifting-report

https://www.news18.com/business/axis-my-india-diwali-spending-festive-season-report-8649409.html

https://epaper.chinadaily.com.cn/a/202404/18/WS66206f0da310df4030f50f11.html

https://www.ebestglobal.com/blog/2024-chinese-new-year-consumer-trends-insights-for-cpgs

https://taxsummaries.pwc.com/peoples-republic-of-china/individual/other-taxes

https://www.monash.edu/news/articles/aussie-shoppers-will-buy-and-spend-more-on-christmas-gifts-this-year

https://faaa.au/wp-content/uploads/2019/08/FPA_Gifts-That-Give-Research-Report-2019.pdf

https://www.myob.com/au/blog/giving-tax-deductible-fbt-free-christmas-gifts

https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/gifts-and-donations

https://www.mha.co.uk/insights/exploring-business-opportunities-in-the-gifting-sector

https://www.creategiftlove.co.uk/blogs/research/christmas-gift-shopper-habits-survey-results-2023

https://www.lindtusa.com/christmas-gifting-habits

https://www.cbsnews.com/miami/news/gift-returns-this-year-could-be-a-pricey-proposition

https://news.gallup.com/poll/545450/consumers-increase-holiday-spending-intentions-mid-season.aspx

https://skift.com/blog/consumer-preference-for-experiential-gifts-peaks-survey

https://www.usatoday.com/money/blueprint/pet-insurance/christmas-gifts-for-dogs

https://globalpetindustry.com/article/how-pet-parents-are-spending-their-money-on-valentines-day

https://www.sofi.com/learn/content/pet-holiday-spending-statistics

https://www.geopoll.com/blog/valentines-day-2024-whos-celebrating-gifts-dates-more

https://nrf.com/blog/2024-valentines-day-consumer-trends