According to Arizton’s latest research report, the experience gifting market is growing at a CAGR of 6.41% during 2023-2029.
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Report Scope:
Market Size (2029): $171.52 Billion
Market Size (2023): $118.17 Billion
CAGR (2023-2029): 6.41%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Type, Purchasing Channel, and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
The Growing Trend of Collaboration in the Experience Gifting and Corporate Gifting Markets
Collaboration between companies in the experience gifting and corporate gifting sectors is becoming an important trend as businesses seek to meet the increasing demand for personalized and meaningful gifts. Experience gifting, where consumers give activities like dining, travel, and adventure instead of physical items, has gained popularity as people shift toward valuing experiences over material goods. Companies are partnering with experience gifting platforms to tap into this trend, expand their reach, and offer services as unique gift options.
Corporate gifting has also evolved, with businesses leveraging these collaborations to create personalized and branded gift experiences. Partnerships between tech and retail companies, such as Google Wallet with Pine Labs, simplify the corporate gifting process by offering seamless management of gift cards. Other collaborations, like that of UBON and TRRUU Global, aim to elevate corporate gifts by incorporating innovative, tech-based products.
A notable example in the experience gifting space is Mastercard’s partnership with Invest India to enhance the Priceless.com platform, offering curated cultural experiences in India. This collaboration exemplifies how companies are meeting the growing demand for memorable, experience-based gifts that foster emotional connections with consumers.
Overall, collaborations between companies, including those in the experience gifting market, are reshaping the corporate gifting landscape. These partnerships improve customization, streamline processes, and help businesses offer more meaningful and personalized gifts, positioning them to thrive in an increasingly competitive market.
How Technology is Revolutionizing the Experience Gifting Industry
The adoption of technology in the experience gifting industry is revolutionizing how consumers discover, book, and enjoy experiences. Online platforms and mobile apps, such as those by Cloud 9 Living and Virgin Experience Gifts, enhance customer engagement by offering accessible, data-driven recommendations that align with individual preferences. Virtual reality (VR) and augmented reality (AR) are further transforming the pre-purchase experience, with companies like Tinggly enabling users to preview experiences virtually, reducing uncertainty and aiding decision-making. Additionally, data analytics allows platforms like Experience Days and RedBalloon to offer personalized suggestions based on consumer behavior, driving customer satisfaction and repeat purchases. These technological advancements ultimately enhance the shopping experience and foster stronger customer loyalty.
Key Development in the Global Experience Gifting Market
- Companies are using apps and online platforms to offer personalized gift and card recommendations, making it easier for customers to choose items based on their preferences.
- Moonpig has formed partnerships with brands like The Entertainer, Early Learning Centre, and Hotel Chocolat, expanding its gifting range and offering more product options for customers in 2024.
- Red Letter Days has introduced a Sustainable Experiences Collection to meet the increasing demand for eco-friendly gifting options.
Latin America to Boom in the Experience Gifting Market
In Argentina, demand is fueled by local cultural offerings like tango lessons, culinary tours in Mendoza, and outdoor activities like mountain hiking and vineyard tours. Brazil’s market thrives on eco-tourism and adventure experiences, such as rainforest expeditions, riverboat tours, and wildlife safaris, while its vibrant festival culture also boosts demand for experiential gifts related to events like Carnival. Mexico’s market, growing steadily, is driven by its rich heritage and diverse tourism, including visits to ancient ruins, culinary tours, and adventure sports in destinations like Cancun. The region also sees a rise in corporate gifting focused on experience-based incentives, especially in tech and finance sectors. Overall, Latin America experience gifting market is evolving with a blend of cultural immersion, sustainability, and adventure, offering businesses new opportunities to cater to these growing demands.
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Key Company Profiles
- Moonpig Group
- Virgin Experience
- Red Letter Days
- Activity Superstore
- Adrenaline, Inc.
- Bigbox
- Breakaway Experiences
- Buyagift
- Cobone
- DesignMyNight
- Dreamdays
- Epic Experiences
- Experience Oz
- FNP
- GetYourGuide
- Giftano
- Gifting Owl
- Golden Moments
- Great American Days
- Great Little Breaks
- Groupon, Inc.
- Into the Blue Activity Gift Vouchers Ltd.
- KKday
- Klook
- Lastminute.com
- LifeExperiences.ca
- Prezzybox
- RedBalloon
- Tinggly
- Viator, Inc.
- Wonderbox
- Xoxoday
Market Segmentation
Type
- Food & Drinks
- Adventures
- Spa & Beauty
- Driving
- Travel & Stay
- Others
Purchasing Channel
- Corporate Gifting
- Individuals
Geography
APAC
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Singapore
Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Netherlands
- Poland
North America
- The U.S.
- Canada
Latin America
- Brazil
- Mexico
- Colombia
Middle East & Africa
- Saudi Arabia
- The UAE
- South Africa
The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to understand the experience gifting market thoroughly. Request for Free Sample to get a glance at the report now: https://www.arizton.com/market-reports/experience-gifting-market
What Key Findings Will Our Research Analysis Reveal?
How big is the global experience gifting market?
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