Non-western gifting occasions are an opportunity
The increasing diversity in the UK offers BPC brands and retailers a significant opportunity to tap into culturally inclusive gifting by aligning products with occasions like Eid, Diwali, and Lunar New Year, especially given that 40% of UK adults agree that brands who celebrate diverse festivals demonstrate commitment to inclusion.
Value innovation is needed
The tough economic climate and stagnant gifting launches are a threat to the category, meaning a shake up is needed. Brands must increase launch activity, while also addressing the need for value.
Gifters are looking for advice
Providing in-store advice and personalised guidance presents a major opportunity for BPC brands and retailers to stand out and foster loyalty, with 71% of UK BPC gift buyers wanting more in-store advice. Men are especially in need of advice, and given they are significantly more likely than women to shop for luxury gifts, luxury brands and retailers are well placed to meet these needs.
Value remains a key driver, and there is ample opportunity to take advantage of the changing UK demographics by exploring non-western gifting occasions.
Dionne Officer, Research Analyst – BPC Innovation
For the purposes of this Report, Mintel has used the following definition:
Gifting refers to the act of giving or exchanging gifts for special occasions, such as holidays, birthdays, anniversaries, weddings, and other meaningful events.
Products covered in this report:
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