Shoppers could spend £1bn on personalised gifts by the end of this year, according to a new study.
A YouGov survey, carried out for PhotoBox , found that more than one in two adults had personalised a gift during the last year, and that among those that had personalised a gift, the average spend was £36.50.
PhotoBox Group, which owns brands including PhotoBox and Moonpig , questioned more than 1,000 UK adults and found 53% had sent a personalised gift.
Dr Michael Wagstaff, head of UK custom research at YouGov
, said: “This landmark survey gives a clear picture of the phenomenal scale of the fast growing personalisation market. Our research found that approximately 27 million people have purchased a personalised gift, and on average spent £36.50 on personalised gifts in the last year - that means the country could spend over £1 billion on personalised gifts in 2015. Despite that sizeable figure, our research suggests spending will continue to increase as consumers turn their attention to new product verticals - whether that is personalised stationary or 3D printing furniture.”
The age group most likely to buy personalised gifts are those aged between 35 and 44, while the least likely to were those aged over 55.
Stan Laurent, chief executive at PhotoBox said: “This research conclusively shows that the UK IS a personalisation nation! The market is growing fast with our flagship Moonpig and Photobox brands leading the way.Consumers now want everything personalised, whether it be a barista writing your name on your coffee cup, tailoring the content on your mobile news app or indeed gifting a lovely photobook for Christmas. It is a practice that is becoming completely habitual and the market opportunity is as large as our imaginations allow it to be!”