III. Industry Analysis
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Over the past few years, the gift shop industry has boomed along with the post-pandemic increase in travel and tourism. With fewer regulations, tourists can easily travel to all of their favorite destinations and buy souvenirs/gifts to commemorate the experience. This will lead to a significant boom in revenue for both the gift shop and tourism industries.
Another factor benefitting the industry is the increase in per capita disposable income. Higher income levels will likely enable consumers to pay higher prices for gift items. Furthermore, as the employment rate increases, there will likely be more foot traffic in highly populated areas, further boosting industry demand.
According to Mordor Intelligence, the Gifts Retailing Industry has earned $14 billion in the past year and is expected to grow at a CAGR of 4% over the next five years. These numbers show that the industry is strong, and will continue to do well for the foreseeable future.
