Global Cross-Border Gifting Market Size Likely to Grow at a CAGR of 24.54% By 2033

As per the current market research conducted by the CMI Team, the global Cross-Border Gifting Market size is expected to record a CAGR of 24.54% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 92.45 Billion. By 2033, the valuation is anticipated to reach USD 535.01 Billion.

Cross-Border Gifting Market: Growth Factors and Dynamics

• Increasing Globalization and Connectivity: As the cross-border gifting market grows, companies are competing to offer unique and personalized gift options, faster delivery times, and better customer service to attract and retain customers.

• Rising Disposable Incomes: Increasing disposable incomes, especially in emerging markets, have led to greater spending on non-essential items, including gifts. As consumers have more discretionary spending power, they are more likely to participate in cross-border gifting for various occasions.

• Advancements in E-commerce and Technology: The growth of e-commerce platforms and technological innovations has made it easier to purchase and send gifts internationally. Features such as personalized recommendations, secure payment gateways, and efficient shipping solutions contribute to a seamless gifting experience, driving market growth.

• Cultural Exchange and Diversity: Growing interest in cultural exchange and the desire to experience products from different parts of the world fuel the demand for cross-border gifts. Consumers seek unique and diverse products that are not available locally, fostering market expansion.

• E-commerce and Direct-to-Consumer Channels: The rise of e-commerce platforms and direct-to-consumer sales channels enables Cross-Border Gifting producers to reach a wider audience and bypass traditional distribution channels, fostering market accessibility and convenience.

• Emerging Markets and Globalization: Growing adoption of Cross-Border Gifting in emerging markets, fuelled by urbanization, changing consumer preferences, and increased disposable incomes, contributing to market expansion and opportunities for international trade and collaboration.

• Holiday and Festival Celebrations: The global nature of major holidays and festivals, such as Christmas, Diwali, Chinese New Year, and Eid, significantly boosts the demand for cross-border gifts. These occasions drive peak spending and highlight the importance of gifting as part of cultural celebrations.

• Sustainability and Ethical Considerations: Growing awareness of sustainability and ethical considerations influences consumer choices in the gifting market. Companies that adopt eco-friendly practices, use sustainable materials and ensure ethical sourcing gain a competitive advantage and appeal to environmentally conscious consumers.

Cross-Border Gifting Market: Partnership and Acquisitions

• In January 2023, 1-800-FLOWERS.COM added Things Remembered to its e-commerce platform, expanding its leadership position in the personalized gifts category. The inclusion of Things Remembered’s thousands of products with innovative personalization options strengthened the company’s position in the growing market for personalized gifts. CEO Chris McCann stated that the addition complemented Personalization Mall and helped customers celebrate every occasion with personalized masterpieces.

• In December 2020, PAI MMF entered exclusive negotiations with LFPI and Montefiore Investment for the acquisition of a majority stake in MyFlower, a leading European flower and gift digital platform. MyFlower operates a portfolio of complementary gifting brands, including Interflora, in key European markets. Under the impulsion of LFPI and Montefiore Investment, MyFlower has turned into a leading pan-European gift digital platform, generating over 80% of its sales volume online.

Report Scope

Cross-Border Gifting Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Cross-Border Gifting Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chain and Logistics: The pandemic caused significant disruptions in global supply chains and logistics. Lockdowns, travel restrictions, and border closures led to delays in shipping and increased transportation costs. Many countries faced logistical bottlenecks, making it difficult for businesses to ensure timely delivery of cross-border gifts.

• Reduced Demand: The economic downturn and uncertainty caused by the pandemic may have led to a decrease in discretionary spending on gifts, particularly for people living abroad. This could have negatively impacted the cross-border gifting market.

• Increased Shift to digital gifting: With physical distancing measures in place, there may have been an increased demand for digital gifts and e-gift cards that can be sent instantly across borders. This could have provided some growth opportunities for certain segments of the cross-border gifting market.

• Changing Consumer Preferences: The pandemic altered consumer preferences and behaviors related to gift-giving, such as a greater focus on practical, useful gifts or a shift towards supporting local businesses. This could have required cross-border gifting companies to adapt their product offerings and marketing strategies.

• Economic Uncertainty and Reduced Consumer Spending: The pandemic’s economic downturn led to reduced discretionary spending on non-essential items, including gifts, and overall constraints in the cross-border gifting market, despite some budget adjustments towards practical gifts.

• Complexities with Cross-Border Regulations and Customs: The pandemic intensified the complexity of cross-border regulations and customs procedures, posing challenges for international trade due to health and safety protocols and fluctuating import-export policies.

• Shipping Delays and Increased Costs: The pandemic posed significant challenges to the global shipping industry, resulting in delays, increased costs, and decreased customer satisfaction, highlighting the need for urgent and effective solutions.

• Shift to Digital Gifting: With physical distancing measures in place, there may have been an increased demand for digital gifts and e-gift cards that can be sent instantly across borders. This could have provided some growth opportunities for certain segments of the cross-border gifting market.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Cross-Border Gifting Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Cross-Border Gifting Market:

• 1-800-Flowers .com
• Ace of Hearts Gift Baskets
• Bettys & Taylors of Harrogate Ltd.
• Fern N Petals
• Gift Hampers International
• GiftBasketsOverseas
• Giftsenda
• Interflora
• Swarovski
• The British Hamper Company
• The Gourmet Box
• The Saao
• Tiffany & Co.
• Tinggly
• Trade Link Cargo Carriers
• Others

The Cross-Border Gifting Market is segmented as follows:

By Product Type

• Physical Gifts
• Digital Gifts
• Personalized Gifts
• Non-Personalized Gifts
• Others

By Price Range

• Luxury
• Mid-range
• Low Range

By Occasions

• Birthdays
• Holidays
• Anniversaries
• Corporate Gifts
• Others

By End User

• Individuals
• Corporations
• Retail Customers
• Wholesalers

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America