The UK personalised gift market is anticipated to reach £1bn over the next 12 months according to the findings of a European study by Roland DG.
The survey - of more than 5,000 shoppers across Europe, including 1000 in the UK - also found that UK shoppers are set to spend over £750m on personalised gifts over the coming festive period, with buyers of personalised gifts expected to fork out more than £40 each on unique gifts.
According to the data, the average UK shopper is prepared to spend an extra 7% on gifts that have an element of personalisation. The most popular categories for those who anticipate purchasing personalised gifts are books (29%), clothing and babywear (24%) and calendars (also 24%).
The number one driving force behind purchases is how shoppers consider personalised gifts to be more thoughtful (chosen by 21%), closely followed by the fact that they are unique and can’t be bought straight off-the-shelf (20%).
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%). High street businesses with in-store personalisation offers was a likely place for nearly a tenth of respondents (8%).
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.”
The online survey was undertaken 18-23 November 2020, and polled 5,014 18+ year old consumers in the following markets: UK (1000 respondents), Spain (1002), Italy (1002), Germany (1008) and France (1002).