Here’s another helpful survey from Roland DG who reckon that the UK personalised gift market is anticipated to reach £1 billion over the next 12 months.
The company undertook a European study of 5,000+ shoppers and among its findings discovered that UK shoppers are set to spend over £750 million on personalised gifts over the coming festive period, with buyers of personalised gifts expected to fork out more than £40 each on unique gifts for their loved ones.
This might also be because nobody has time to do any actual shopping because of the incredible number of business/personal restrictions in place, but nevertheless, there are many useful and helpful insights to be found within this latest survey.
According to the data, the average UK shopper is prepared to spend an extra 7 percent on gifts that have an element of personalisation, such as adding a name, personal message or image. The most popular categories for those who anticipate purchasing personalised gifts are books (29 percent), clothing and baby-wear (24 percent) and calendars (also 24 percent).
The number one driving force behind purchases is how shoppers consider personalised gifts to be more thoughtful (chosen by 21 percent of respondents), closely followed by the fact that they are unique and can’t be bought straight off-the-shelf (chosen by 20 percent of respondents).
With many brands and consumers pivoting to eCommerce since the start of the pandemic, online retailers including Notonthehighstreet and Etsy are by far and away the most popular places to buy personalised gifts, and is the most likely place for nearly a quarter of respondents (24 percent). High street businesses with in-store personalisation offers was a likely place for nearly a tenth of respondents (8 percent).
Younger shoppers are far more willing to spend more on personalised gifts than their older counterparts. On average, 18-34-year-olds will be willing to fork out an extra £30 compared to shoppers over 55 over the next 12 months.
Stephen Davis, EMEA Marketing director at Roland DG UK, said: “These might be turbulent times, but the British public does not intend to let the pandemic interfere with their appetite for personalised gifts. Our desire to treat each other in difficult times may well be a factor in the huge projected spend over the festive period. But make no mistake: the market for gift personalisation is vast, and only set to grow as it becomes easier and faster to source gifts with that personal touch. It represents a lucrative source of revenue for manufacturers and retailers.
“Retailers who are willing to add customisation options to their products, diversify the options they currently offer, and integrate these services online using tools like PersBiz, are sitting on a golden opportunity. The even better news is it’s easy and inexpensive to add personalisation options, from the most simple to the most complex. There are products for every budget to tap into this burgeoning market,” concluded Davis.