LONDON--(BUSINESS WIRE)--According to Technavio Research Report “Personalized Gifts Market in the US by distribution channel (offline and online) and product (non-photo personalized and photo-personalized) is witnessed to grow USD 3.47 billion, at a CAGR of 9% from 2018 to 2022”.
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Advent of gift-giving culture and rising demand for seasonal decorations
Sales volume of seasonal decorations including personalized decorative mugs, handkerchiefs, and plates has been witnessing a continuous spike in the US. Consumers are celebrating holidays including Halloween, Hanukkah, New Year, Christmas, and Easter by exchanging personalized, engraved and customized gifts. Factors including the enhancement of gift customization capabilities and identification of new ideas for making the overall process convenient while streamlining efficient ordering processes will further impact the market’s growth during the forecast period.
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Personalized gifts market in the US: Segmentation Analysis
The market research analysis categorizes the personalized gifts market in the US into the following products:
- Non-photo personalized gifts
- Photo personalized gifts
In 2017, the non-photo personalized gifts segment accounted for 68.12% of the global market and is projected to reach 69.20% by 2022, exhibiting almost 1.08% increase in market share.
Few Major Players in the Personalized Gifts Market in the US are:
- Hallmark Licensing
- Things Remembered
Personalized gifts market in the US: Top emerging trend
The specialized merchandise offered by market vendors is an emerging trend in the personalized gifts space. Many factors such as limited availability, uniqueness, and brand image drive the demand for specialized merchandise. The personalized gift retailers can differentiate their products from other stores that sell generic, non-personalized products by offering products that are designed and crafted by local artists.
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