DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/hq2wt4/gifting_report)
has announced the addition of the “Gifting
Report 2015” report to their offering.
Introducing the Ultimate Five-Year Guide to Trends in the Consumer
Conventional wisdom in retail is that on ‘Black Friday,’ the day after
Thanksgiving, the bottom line of retailers’ account books goes from red
ink to black as annual losses turn to profits. It might have been true
once, but not anymore, according to a new report on the gifting market
from Unity Marketing.
Retailers can’t wait until the fourth quarter any longer to make their
money, as shoppers behavior has changed. Back in 1995, nearly one-third
of the typical retailer selling gifts was generated in the last three
months of the year. In 2014 it had dropped to 29.4%. The fourth quarter
is not the money maker it once was for retailers.
The incredible build up retailers make around the Christmas holiday
shopping season is no longer paying off. Yearly retail sales
quarter-to-quarter are flattening out and retailers’ chance to sell to
the gift giver isn’t an end of the year opportunity any longer, but one
that extends throughout the entire year, according to this new Gifting
Report, based upon a survey among 1,650 gift shoppers (avg. income
This industry estimates that the gifting market totals $131.3 billion,
and represents about $1 out of every $10 spent in the type of stores
that fill America’s malls and shopping centers, the ‘big boxes’ that
line the streets and highways and the shops along main streets across
the country. And increasingly, more of those gifting dollars are not
going to those stores at all, but being spent online, as gifters turn to
the internet to select, research and buy gifts.
The new study reveals that gifters spent an average of $1,851 on gifts
and gift wrap, cards and other gifting accessories in the most recent
year. Approximately 45% of that spending went toward buying Christmas
gifts, down from 48% in 2009. Further spending on Christmas gifting
after rising in 2012, settled back to 2009 levels last year.
For Christmas 2015, we don’t expect to see much change. Some 70% of gift
shoppers expect to spend the same on gifts in 2015 as they did in 2014,
which doesn’t bode well for 4Q2015. Retailers will need to pull some
real magic out of their hats to get gift shoppers excited and spending
this coming holiday season.
While Christmas gift spending was flat from 2009 to 2014, overall
spending on gifting increased 6.4%, meaning the opportunity for
retailers to grow their share of the gifting market largely rests on
attracting gift shoppers throughout the rest of the year, for other
holidays and gifting occasions like birthdays, anniversaries, weddings,
and so on.
This new report provide data, insights and a five-year perspective of
trends into what gifts people are shopping for by holiday and occasion,
the destinations they favor for gift shopping, as well as what they look
for when considering gift selections and places to shop. In addition, a
new section of the study was devoted to how gifters use the internet in
planning their gift purchases, researching where to buy and prices, and
Internet shopping for gifts is a real game changer that is disrupting
the gifting market, having replaced discount department stores and mass
merchants, including the websites of stores like Target, Walmart, Kohl’s
and others, as their preferred gift shopping destination.
While the annual year-end holiday gifting season receives the lion’s
share of marketer and retailer attention when it comes to the gifting
market, the reality is that gifting represents a significant marketing
opportunity throughout the whole year. Out of the typical gifters’
annual gifting budget, Christmas accounts for slightly less than half of
the total. The majority of gift purchases are made the rest of the year.
A major finding in this gift giving report is that the gifting market is
an important marketing opportunity throughout the year, not just during
the traditional Christmas season. This report details an important trend
for retailers and marketers to comprehend and use to plan year-round
For more information visit http://www.researchandmarkets.com/research/hq2wt4/gifting_report
Research and Markets
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