Non-photo personalized gifts: Key market research findings
- Growing demand for personalization
- Rise in personalized wearables and accessories
Technavio has released its new market research report, global non-photo personalized gifts market, which is expected to grow at a CAGR of 11% between 2016 and 2020. Growing organized retail in emerging markets is one of the major factors driving this market growth. Retailers are adopting personalization technique in offering their products to enhance customer experience and enhance customer loyalty. The Americas is the largest revenue contributor to the global market for non-photo personalized gifts, accounting for 45% of the total market share. The presence of personalized gift outlets in shopping malls and hypermarkets is helping this business concept gain visibility and popularity in the region.
“Of late, personalization is a growing trend among resellers, retailers, and producers and manufacturers. Personalization of gits is more appealing because it add personal touch to the product, making it unique and special. Vendors are coming up with targeted and personalized offers for the customers online as well as offline by using data analytics to study buying patterns. Personalization help brands to engage with customers at a person level. Resellers such as Amazon and eBay, retailers such as Walmart, and manufacturers such as Nike and Coca-Cola are offering customized gifts to enhance customer experience,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
Wearables and accessories dominates the non-photo personalized gifts market, accounting for 30% of the overall market revenue. This segment includes clothing, footwear, and accessories, jewellery, watches, key chains, and money clips, luggage and bags, electronics and accessories and personal care and cosmetics. Clothing footwear and accessories are the most bought personalized gits, occupying the largest market share, and generated more than $2.5 billion in 2015.
The key vendors in the global non-photo personalized gifts market include CafePress, Cimpress, Getting Personal, PersonalizationMall and Things Remembered. The market for personalized gifts is highly segmented, geographically dispersed, and competitive with the presence of many local and private players. The market is highly seasonal as maximum sales take place during the holiday and festive seasons.
A more detailed analysis is available in the Technavio report, Global Non-Photo Personalized Gifts Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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