Dive deep into the US gifting industry with this report. Our analyst explores the latest consumer trends backed by independent research, to enable you to strategise effectively in response to demands. Below, we summarise the key topics covered and offer select insights from the report itself.
Key Topics Covered
- Macroeconomic factors impacting gifting.
- Occasions when gifting is a common practice.
- Types of items bought as gifts.
- Resources used to find gifts.
- Usage and attitudes towards gift registries.
- Attitudes towards the exchange of gifts.
US Gifting Market Landscape
Over the last five years, retail sales in November and December grew 7.9%, showing the popularity of gift-giving during winter. However, this outstanding growth is not set to sustain, as revealed by retail sales between November and December 2022 declining 2% at inflation-adjusted prices. With economic difficulties impacting consumers, gifting behaviour changes. People may prioritise certain recipients or occasions over others due to budget-conscious behaviour, and this is explored with our consumer research in this report.
In this report, relevant historical, current, and projected data is revealed and analysed, such as total expected spending on select holidays in the US.
Gifting Consumer Trends and Recommendations
Economic challenges prompt sensitivity
With economic challenges, consumers may feel forced to choose between celebrating special occasions and maintaining financial stability. With this in mind, it’s important for brands to take a sensitive approach to communicating the value of these occasions. Providing customers with cost-effective gift options will also allow them to avoid completely forgoing special occasions.
The self-gifting phenomenon
Interestingly, women and younger shoppers show a trend towards self-gifting. This indicates a movement of wellness and self-care, and retailers can tap into this. By offering products that promote self-care, and by encouraging consumers to indulge in little luxuries, brands can increase sales and encourage trials.
Market Opportunity to Capitalise on Now
Personalised gifts are not just limited to customised products. Carefully curated assortments that reflect the gift giver’s thoughtfulness and consideration for the recipient’s preferences can also enable a personalised, enhanced experience. The opportunity, therefore, is to make the shopping process more entertaining and engaging through customisation offerings and also through tech solutions such as AI that supplement the selection process.
For a complete analysis of opportunities in the US gifting industry, buy the full report. Alternatively, browse our extensive retail market research.
Report Definitions and Brands Discussed
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.
This Report builds on analysis presented in Mintel’s Gifting – US, 2021. For more detailed information about holiday sales, please refer to Mintel’s Winter Holiday Shopping – US, 2023 and Non-Winter Holiday Shopping – US, 2022.
This Report includes consumer research fielded in April 2023. It was written in July 2023, and the analysis reflects the state of the industry during this time.
A number of key players and niche brands are discussed in the scope of the report. Examples include New Balance, covering their partnership with Snap, Gopuff’s launch of a gifting feature, Walmart’s Mother’s Day giveaway, and more.
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Expert Analysis from a Retail Specialist
This report, written by Marisa Ortega, a leading retail and ecommerce analyst, delivers in-depth commentary and analysis to highlight current trends in the gifting market, adding expert context to the numbers.
The increased cost of living is impacting consumers’ purchasing power. They are limiting their discretionary spending and, naturally, gifting is ending up on the chopping block. Consumers are making efforts to spend less on presents and are cautiously choosing the gifting occasions they participate in. Simultaneously, they are looking for little treats and joyful moments. While the landscape is challenging, with the right message and product offering, brands and retailers can still appeal to consumers.
Marisa Ortega
Retail & eCommerce Analyst
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
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Executive Summary
- Top takeaways
- Consumer trends
- The increased cost of living has had a significant impact on gifting
- Figure 1: Gifting occasions, 2019-23
- Digital channels are useful to find gift ideas
- Figure 2: Resources used to find gifts, 2023
- Self-gifting behaviors are prominent
- Figure 3: Attitudes toward the exchange of gifts, by gender, age, 2023
- Amid financial pressures, consumers are being more cautious with gift spending
- Figure 4: Attitudes toward the exchange of gifts, by financial situation; consumer segments related to gifting attitudes, 2023
- Competitive strategies
- Retailers are using gifting occasions to target specific audiences
- Brands are testing technology to guide consumers who are searching for gifts
- Companies are paying more attention to fulfillment
- Market predictions
- Figure 5: Gifting outlook, 2023-28
- Opportunities
- Align to evolving consumer behaviors
- Make the shopping experience more enjoyable through personalization
- Infuse new life into gift registries
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Market Landscape
- Holiday growth rate declines from pandemic highs but remains elevated
- Figure 6: Total US retail sales in November and December, at current prices, 2013-23
- Figure 7: Total US retail sales in November and December, at inflation-adjusted prices, 2013-23
- Certain occasions can end up on the chopping block due to budgeting behaviors
- Figure 8: Total US expected spending on select holidays, in current dollars, 2012-23
- Holiday growth rate declines from pandemic highs but remains elevated
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Market Drivers
- The increased cost of living leads consumers to more carefully consider how much they spend on gifts
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- Figure 9: Consumer Price Index change from previous year, 2021-23
- Invest in a green future for all
- The digital revolution in retail is changing how consumers shop for gifts
- A decline in birth rates can have an impact on gifting occasions
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- Figure 10: Annual births and general fertility rate, 2010-21
- Evolving views on marriage impact gifts purchases
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- Figure 11: Median age at first marriage, by gender, 2011-21
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Competitive Strategies and Market Opportunities
- New Balance partners with Snap to provide gifting suggestions
- Figure 12: New Balance and Snap leverage AR to offer gift recommendations
- Gopuff launches a gifting feature
- Figure 13: Gopuff adds a gifting feature
- Walmart celebrates Mother’s Day through a giveaway
- Figure 14: Walmart leverages Mother’s day to resonate with moms
- New Balance partners with Snap to provide gifting suggestions
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The Gifting Consumer – Fast Facts
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Gifting Consumer Segments
- Financial means impact consumers’ approach to gifting
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- Figure 15: Consumer segments related to gifting attitudes, 2023
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Gifting Occasions and Spending
- Consumers prioritize certain occasions and recipients when they have to cut down on gifting
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- Figure 16: Gifting occasions, 2019-23
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- Figure 17: Gift spending, 2019-23
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- Figure 18: Target promotes gifts on Cyber Monday, 2022
- Consumers aged 25-44 have many reasons to shop for gifts
- Figure 19: Gifting occasions, by age, 2023
- Frugal Gifters look for ways to purchase gifts without breaking the bank
- Figure 20: Gifting occasions, by consumer segments related to gifting attitudes, 2023
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- Figure 21: T.J. Maxx promotes savings on gifts for Mother’s Day
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Types of Gifts
- Consumers are increasingly interested in gifts that keep on giving
- Figure 22: Types of gifts, by age, 2023
- Gifters battle with the shopping process when deciding what to buy
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- Figure 23: Starbucks promotes its gift cards
- Figure 24: Types of gifts, by consumer segments related to gifting attitudes, 2023
- Consumers are increasingly interested in gifts that keep on giving
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Retailers Shopped
- Consumers gravitate toward retailers that deliver value when looking for gifts
- Figure 25: Retailers shopped, by age, 2023
- Offer monetary and nonmonetary forms of value to appeal to gift givers
- Figure 26: Retailers shopped, by consumer segments related to gifting attitudes, 2023
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- Figure 27: Glossier inspires gift givers and encourages purchases with monetary forms of value
- Consumers gravitate toward retailers that deliver value when looking for gifts
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Resources Used to Find Gifts
- Gift givers increasingly turn to digital channels for inspiration
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- Figure 28: Resources used to find gifts, by gender, 2023
- Figure 29: Vuori promotes its gifting offerings via a Father’s Day guide, 2023
- Consumers look for gifts in their own specific way
- Figure 30: Resources used to find gifts, by consumer segments related to gifting attitudes, 2023
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- Figure 31: Digital creator engages Tiktok users with gifts under $50
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Attitudes toward Gift Registries
- There is a gap in consumer sentiment toward gift registries
- Figure 32: Attitudes toward gift registries, by age, 2023
- Leverage gift registries to drive sales and customer engagement
- Figure 33: Attitudes toward gift registries, by consumer segments related to gifting attitudes, 2023
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- Figure 34: Crate & Barrel promotes its wedding registry through a partnership with Party Slate
- There is a gap in consumer sentiment toward gift registries
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Attitudes toward the Exchange of Gifts
- Half of consumers find gift giving to be overwhelming, opening the door for retailer assistance
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- Figure 35: Attitudes toward the exchange of gifts, by gender, age, 2023
- Consumers turn to self-gifting as they prioritize their wellbeing
- Figure 36: Attitudes toward the exchange of gifts, by gender, age, 2023
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- Figure 37: Soylent inspires little indulgences during gifting occasions
- Let gift givers know that preowned gifts make recipients happy
- Figure 38: Attitudes toward the exchange of gifts, by age, parental status, 2023
- Consumers are cautious about how much they spend on gifts
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- Figure 39: Attitudes toward the exchange of gifts, by financial situation; consumer segments related to gifting attitudes, 2023
- Figure 40: Instacart encourages consumers to spend on little indulgences
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Appendix – Data Sources and Abbreviations
- Data sources
- Sales data
- Consumer survey data
- Consumer qualitative research
- Marketing creative
- Abbreviations and terms
- Abbreviations
- Terms
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Appendix – The Market
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- Figure 41: Total US expected spending on select holidays, in current dollars, 2012-23
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Appendix – The Consumer
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- Figure 42: Types of gift cards purchased, 2017-22
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