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25 Surprising Gift Basket Industry Statistics You Need to Know

Updated
From the most popular types of gift baskets to the latest trends in gifting, we offer a treasure trove of information that will take your knowledge to the next level.

Gift baskets have become exceedingly popular as an opportunity to spoil a loved one with a few gifts instead of just one. And, whether you’re looking to start a gift basket business or have more questions than answers about the industry, we’ve got you covered.

Our unique guide provides the gift basket statistics and facts to answer your burning questions. From how much the industry is worth to upcoming trends, you’ll soon be an expert in gift basket industry statistics.

7 Top Gift Basket Statistics and Facts

  1. Sixty-one percent of online shoppers purchased a gift basket in 2023.
  2. Consumers of gift baskets are 69% more likely to be women than men.
  3. North America made up nearly 23% of the gift basket market revenue in 2022.
  4. The subscription market is said to increase to $42.3 billion between 2021 and 2027 and could hit over $900 billion by 2026.
  5. A 2021 poll revealed 14% of people purchased food gift baskets during a 12-month period, an increase of 10% since 2020.
  6. Sixty-two percent of U.S. consumers preferred personalized gifts to store-bought ones, which explains why the gift basket industry is becoming increasingly personalized.
  7. Corporate food gift sales amassed $33 billion in 2021, but Packaged Facts research says sales may slow down in the next five years.


25 Gift Basket Industry Statistics

Understand more about the gift basket industry with our clear statistics.

Gift Industry Market Size

Check out the size of the gift basket industry and its most popular (and unpopular) segments.

1. Gift Market

The market size for gift and card shops is estimated to be $22.3 billion in 2023. The growth rate should increase by 1.2% this year and has grown by 0.4% annually between 2018 and 2023 (1).

2. Which Products

Just what products do we find in gift baskets the most? Whether alcohol, baked goods, or chocolate boxes, people love receiving curated food items, especially for the holidays.

Although they’re a favorite, it can be tricky to put perishable products through the mail. Other products making waves include electronics, toys, jewelry, and personal care products (like spa gift baskets) (2).

3. Why Gift Baskets

There are many reasons why gift baskets and boxes are becoming more popular these days. The growing gift culture may be on the rise due to more e-commerce businesses popping up. The guarantee retailers offer for delivering gift baskets safely and the offer of unique designs is attractive to many shoppers (3).

4. Post-Pandemic

The Covid-19 pandemic had an effect on gift basket revenue, according to a 2022 report. People were forced to shop online for gifts and spent approximately $182.45 billion for the 2020 holidays. This represented a 45.2% increase when compared to 2019.

Though they returned to shopping more in person in 2021, the shopping habits of many people will have changed for good.

5. Women vs. Men

Purchasers of gift baskets are 69% more likely to be women than men. This fact speaks to the purchasing of gift baskets in particular and not gift-giving trends as a whole.

6. Four Seasons

The reasons for wanting a gift basket vary, but people seem to want them most during the holiday season. Over half of the gift basket, purchasing takes place for a specific holiday, whether Christmas, Mother’s Day, or a graduation (4).

7. Corporate Gifting

Some gift basket statistics and facts come from a 2021 study of 300 companies, 60% of whom sent corporate gifts during the year. Forty percent of that corporate gifting went to internal employees. Many believe the Covid-19 pandemic forced employers into more regular corporate gifting like gift baskets to show employee appreciation (5).

8. Tasty Treats

Food gift baskets are more than a novelty nowadays and have been increasing since the pandemic. Fourteen percent of polled consumers in 2021 purchased food gift baskets for others during the year, a 10% increase compared to 2020. Some even treated themselves to a food gift basket in the process.

9. Profitability

For those making and selling gift baskets, they can expect to profit between 15 and 30% of their gross revenue. This typically occurs with a price markup of 100% to the original cost of the gift basket items (6).

10. Tick the Boxes

The same Consumer Reports study in 2021 revealed what consumers appreciated more when ordering gift baskets. They appreciated everything from a variety of products and personalized options to great packaging design. Delivered items that closely resembled what was advertised and fulfilled the marketing promise also impressed this group (7).

11. A Bad Review

This 2021 group of consumers had reasons why certain gift basket companies didn’t tickle their fancy too. Overpriced items, products that arrived damaged, and ones that didn’t make their perishable trip successfully were all factors (8).

12. For Profit

Businesses that focus on gift baskets for profit earn an average of $65,700 per year before taxes. But many of these companies don’t earn a profit for several years in the beginning. They often re-invest the early profits into buying new inventory, supplies, and marketing campaigns (9).

13. Laws & Regulations

The gift basket industry is often still limited to local and national laws. Varying food safety regulations can affect market growth regarding perishable items being sent in the mail. Friction between competitors also affects growth from occurring too rapidly (10).

Future of the Gift Basket Industry

These facts will school you on where gift baskets are headed and how fast they plan on getting there.

1. Gift Basket Projections

The gift basket (also called gift box) market could reach nearly $3.5 million by the year 2032. The compound annual growth rate (CAGR) is expected to be 6.2% (11).

2. Where It Leads

The biggest leaders in the future of gift basket industry statistics include the U.S. North America comprised almost 23% of gift box market revenue in 2022. This may be due to the prevalence of e-commerce and the ease with which deliveries are made.

3. Get Personalized

Personalized gifts reached $25.8 billion in 2020. These numbers are estimated to reach $43.3 billion by 2027. The CAGR should grow by 7.7% between 2020 and 2027 (12).

4. Personal Over In-person

A 2019 survey by Vistaprint showed 62% of American consumers preferred personalized gifts to generic store-bought ones. Gift baskets are trendy, because they can so easily be customized and made to feel personal for the receiver.

5. Corporate Gifting Future

A lot of the gift basket industry is influenced by corporate gifting. Post-pandemic research says it’s likely that 36.2 million Americans will work remotely by 2025. That’s an increase of 417% since the pandemic. Corporate gifting should reach $306 billion by 2024, so that’s plenty of employee-appreciation gift baskets to go around (13).

6. Gift Baskets Worldwide

The international gift basket market should increase by a CAGR of 3.67% between 2021 and 2026. With the growing ease of global shipping, this represents an increased chance of success for businesses to benefit from gift baskets worldwide (14).

7. Online Shopping

Sixty-one percent of people who shop online purchased a gift basket in 2023. This tells us that the gift box industry has plenty of room to grow, especially at the rate online shopping, in general, is continually increasing.

8. Oh Canada

It’s not just the United States that’s experiencing a flourishing gift basket market increase. The gift basket market in Canada is expected to climb with a CAGR of 4.65%, also between 2021 and 2026 (15).

9. Slow to Digest

While corporate food gift sales reached $33 billion in 2021, the outlook for the future is not all positive. Gift baskets are a popular way to send loved ones food items, but Packaged Facts reports sales might slow down over the next five years.

10. Top Sellers

In 2022, the U.S. gift basket industry’s top seller had Made in Washington in the top spot. They were followed by Donaco, Batchusa, and Gift Baskets Overseas. Other classics included Flowers.com, Harry and David, and Wine Country Gift Baskets.

If these tell the future in any way, a more personal, customized approach and local food items are sure to sell (16).

11. Globally Speaking

When it comes to the global gift basket market, British Hamper Company, Geschenk & Korb, and Walwater represent the largest share of gift basket profits and will likely grow with time (17).

12. Gift-Box Subscription

Under the umbrella of gift baskets is a new sector for gift box subscriptions. These involve miniature gift baskets/boxes purchased on a recurring basis via a subscription.

The subscription market should grow by an astounding $42.3 billion between 2021 and 2027. At a CAGR of almost 65% yearly, it could reach more than $900 billion by 2026.

How to Start a Successful Gift Basket Business

Check out the following tips and tricks if you want to capitalize on these amazing gift basket industry statistics and start your own business (18).

  1. Create a Business Plan: A well-thought-out business plan is the blueprint you’ll follow to start a successful gift basket business. Analyzing the existing market, deciding on a line of products, and looking at your own marketing and funding needs will prepare you.
  2. Legal Entity: Figure out the legal entity you want to represent your gift basket business. Whether doing business as an individual or registering a partnership or LLC, it’s important to safeguard yourself in the event of legal issues.
  3. Target Market and Products: Are you looking to sell your gift baskets to a specific market? Will it be moms, corporate entities, or foodies? This may depend on the type of gift baskets you’re looking to make and sell. Once you answer that question, the other answers will come.
  4. Pricing and Sales: The price of your gift baskets should depend on the time and cost to make, package, and ship the basket. You can also decide which sales channels fit you best. For example, should you sell via your own website, on social media, or through an umbrella sales platform?
  5. Finances: Finances are the most important part of starting any business. Gift baskets are no different. Once you figure out your costs and funds and streamline everything into a business account, you’ll always have a path to follow when handling the financial side.
  6. Advertise: You may depend on a network of individuals, companies, or communities to advertise to. Doing your research on consumer needs can help bring clarity to your efforts. It’s important to understand how best you can get the word out to sell your amazing products!

FAQs

Is the Gift Basket Industry Profitable?

The gift basket industry is quite profitable and is estimated to be worth $62 billion globally. It’s estimated to grow by $5.11 billion at a rate of 2% annually by 2027 (19). The sales growth of gift baskets and gift boxes, both online and in the form of corporate gifts, continues to soar. The industry is on the move with no signs of slowing down.

How Many Items Should Be in a Gift Basket?

The number of items you include in a gift basket should reflect the size of the receptacle itself. Whether you use an actual basket, box, or other item, a good rule of thumb is four to six gifts in a smaller basket. Six to eight items work for a medium basket, and ten or more for a large one. The basket shouldn’t look too empty, or overly cluttered to the person it’s given to.

Who is the Target Audience for Gift Baskets?

Individuals are the biggest purchasers of gift baskets. Their intent is usually to say thank you or provide something special to someone close. Women are 69% more likely to buy gift baskets, but men shouldn’t be excluded from this growing trend (20). Almost 29% of people searching for “gift baskets” on Facebook were between 25 and 34 (21).

How Do You Make a Professional-Looking Gift Basket?

There are many ways to make a gift basket look like it was put together by a professional. You should always pick a “basket” or container that is worth having all on its own. The items should appear attractive and be nestled in festive paper or other filler material.

Whether the basket has a theme or not, the additional decor will help it stand out for the special person you want to impress (22).

Are Gift Baskets Tax Deductible?

Gift baskets aren’t tax deductible when given to family or friends. The 2018 Tax Cuts and Jobs Act stipulates that gift baskets given to a business client must not exceed $25 a year. If the client consists of more than one person, the gift basket can’t exceed $25 per person (23).

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About the Author

Maryana Vestic

Maryana Vestic is a Brooklyn-based writer, editor, and food photographer with a background in entertainment Business Affairs. She studied film at NYU, Irish Theatre Studies at Trinity College Dublin, and has an MFA in Creative Writing Nonfiction from The New School. She loves cooking, baking, hiking, and horror films, as well as running a local baking business in Brooklyn with her boyfriend.