2023 Gift Market Status And Prospect Analysis

There is a demand for supply is the market norm, and a strong gift-giving culture has created a huge gift market. It is understood that China will hold gift exhibitions many times a year, effectively driving mutual exchanges between relevant domestic gift enterprises and enhancing the development of the gift industry's vitality. The coastal areas of Jiangsu, Guangdong, Zhejiang and Fujian are currently the largest gift production centers in terms of output. For Chinese gift manufacturers, establishing brand awareness, strengthening independent innovation and continuously upgrading products has become a top priority.

 

China is a country of traditional etiquette, and the culture of etiquette has occupied an important place in people's minds since ancient times, and gift-giving has become an unavoidable part of people's daily work and life.

 

With the improvement of people's living standards, the market size of China's gift industry has shown a year-on-year growth trend. In the context of a strong market, traditional gift companies can take advantage of the rapid transformation of the Internet economy, to take the lead in the forefront of the industry, follow the trend, bigger and stronger. For gift companies just entering the industry, they can adopt the increasingly popular diversified, customized and systematic welfare mall system nowadays to obtain a long development of the market.

 

The gift industry is an industry that focuses on a variety of holiday gifts, souvenirs, gifts, stationery and other products, mainly including gift making, gift wholesaling and gift retailing.

 

Although the demand in the gift industry is high, most of the market tends to favour large enterprises, and small companies are increasingly competitive. In the early stage, they were still able to fight price wars for customers, but since the entry of large enterprises, it is difficult for small companies to have an advantage in price. Small companies are less able to resist risks, it is difficult to compete with large enterprises in all aspects, and if they do not make changes, they will soon be eliminated from the market.

 

A large part of the reason why the gift industry has such a large demand is because of the special domestic humane society. Gifts are inseparable from favors and requests for favors. A large enterprise's gift procurement can even feed a small and medium-sized enterprises.

 

With the development of the times, the younger generation, such as the post-80s and post-90s, has gradually become the main consumer of the gift market in China. In recent years, the market demand for gifts has shown a trend of diversification and personalization. In the future, as people's living standards improve and the importance of major festivals increases, gift givers will place more and more emphasis on communication with the recipient.

 

For example, in the past, gifts were given in large bags, which was a heavy process and not very convenient, but nowadays the gift market has completely new characteristics, and consumers' needs for gifts have been extended to respectful, fashionable, trendy and convenient, so they will consider many aspects when choosing gifts.

 

The foreign gift market is similar to the domestic market but is more developed than the domestic market. Different races have different cultures, but treating people with courtesy is recognized by any civilization, so the development of the gift market has heritage and stability. In recent years, the Chinese gift industry has gradually expanded and is not only a hot seller at home, but also has an advantage abroad. In terms of export volume, Chinese gifts are now increasingly exported, with around 70% to 80% of gifts exported to various countries each year. Chinese gifts are generally more cost-effective and incorporate traditional Chinese culture.

 

In the future, the Chinese gift industry will continue to maintain the momentum of development by improving product quality, perfecting the marketing model, expanding into new markets, striving to improve the core competitiveness of the industry and enhancing the market scale of the gift industry.

 

According to the research report "China Gifts Industry Supply and Demand Analysis and Development Prospects Research Report 2023-2028" by China Research Institute of Puhua Industry

 

The gift industry is closely related to the development of the national economy. In recent years, the market demand of the gift industry has achieved rapid growth driven by multiple factors, with the market scale exceeding trillion yuan.

 

Chart: Market size of the gift industry, 2018-2020

Time	Market size (billion￥)
2018	15392
2019	16354
2020	12255

 

Data source: CIRP Research Institute

For future suppliers in the gift industry, it is important to enhance their product recognition and achieve the ability to send out products on behalf of others as soon as possible to cope with the increasing number of online purchasing opportunities. In today's increasingly rapid economic development, one-sided advantages are no longer enough; they must develop in all aspects to enhance their competitiveness so that they can stand firm in the gift industry.

 

Future market scale forecast:

China's gift market has reached trillions, ranking first in the global gift market. It is predicted that the Chinese gift market will reach a market size of RMB 1,500 billion in 2023. The rising trend of market development in the gift industry brings unlimited room for development on the one hand, and symbolizes the continuous increase in competitive pressure in the industry on the other.

The gift industry research report aims to analyse the future policy direction and development trend of the regulatory system of gifts from the strategic perspective of national economic and industrial development, explore the market potential of the gift industry, provide a vivid picture of market changes from multiple perspectives such as industry scale, industry structure, regional structure, market competition and industry profitability level, and clarify the direction of development based on in-depth research of key market segments.