Singapore Gift Retailing Market (2024-2030) | Value, Forecast, Companies, Growth, Industry, Outlook, Revenue, Analysis, Share, Size & Trends

Singapore Gift Retailing Market Synopsis

The Singapore gift retailing market is expected to witness a healthy CAGR of 4.5% during the forecast period 2020-2026. The increasing popularity of online shopping in the country and rising consumer spending on premium gifts are driving the growth of this market in Singapore. Additionally, younger generations are better informed about customized or personalized products, which has increased their demand for unique gifting items. Moreover, technological advancements with respect to product designs have further added up to the attractiveness of these products as well as to its sales potential among different age groups and demographics in Singapore.

Market Drivers

Growing Demand for Luxury Gifting: Increasing disposable incomes coupled with growing interest towards luxury goods amongst consumers has propelled demand for high-end gifting items such as leather wallets, ties & cufflinks, perfumes ETC, thereby boosting revenue growth within the nation???s gifting industry over recent years. Increasing Popularity Of Online Shopping: Growing internet penetration across urban areas along with effortless availability provided by e-commerce platforms have significantly contributed towards sharp rise in online gifting purchases within Singapore over recent times. Additionally, presence of various discounts & offers provided by retailers such as Lazada & Shopee have further facilitated convenience while purchasing gifts from virtual stores leading to higher sales volumes witnessed across internet platforms throughout most part of year 2019 and 2020.

Market challenges

Intense Competition From Unorganized Retailers : Presence large unorganized sector comprising small dentists operating at local level provide stiff competition against organized players due technological limitations faced by them while trying innovate or launch new products into market resulting considerable effect on prices charged by vendors.

Key players

Some Key players operating in Singapore Gift Retailing Market are Courts Asia Limited , Takashimaya Co Ltd., Popular Book Co Pte Ltd., Robinson`s Retail Holdings Inc., FairPrice Group Ltd., Isetan (Singapore) Ltd., Metro Holding Pte Ltd., BHG Retail Reit Management Pte Ltd., Giant Hypermart (SG) Pte ltd,. amongst others

Covid-19 Impact

The COVID-19 pandemic has had a negative impact on the overall retail industry globally including that in Singapore causing reduced demand from customers owing lockdowns imposed government authorities since March 2020 leading fall both top line bottom line performance companies operating space thus hindering progress made prior outbreak.Despite this situation there exists certain positive aspects like increase acceptance digital payments shifting trend contactless delivery methods which bode well future prospects post lockdown.

Key Highlights of the Report:

• Singapore Gift Retailing Market Outlook
• Market Size of Singapore Gift Retailing Market, 2023
• Forecast of Singapore Gift Retailing Market, 2030
• Historical Data and Forecast of Singapore Gift Retailing Revenues & Volume for the Period 2020-2030
• Singapore Gift Retailing Market Trend Evolution
• Singapore Gift Retailing Market Drivers and Challenges
• Singapore Gift Retailing Price Trends
• Singapore Gift Retailing Porter's Five Forces
• Singapore Gift Retailing Industry Life Cycle
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Souvenirs and Novelty Items for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Seasonal Decorations for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Greeting Cards for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Giftware? for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Other? for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Distribution Channel for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Online for the Period 2020-2030
• Historical Data and Forecast of Singapore Gift Retailing Market Revenues & Volume By Offline for the Period 2020-2030
• Singapore Gift Retailing Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Distribution Channel
• Singapore Gift Retailing Top Companies Market Share
• Singapore Gift Retailing Competitive Benchmarking By Technical and Operational Parameters
• Singapore Gift Retailing Company Profiles
• Singapore Gift Retailing Key Strategic Recommendations