Provider of Personalized Gifts in Manassas, VA Discusses Predicted Industry Growth
Manassas, VA. – As an awards store that also specialized in personalized gifts, Award Crafters keeps an eye on the gift industry. They recently took note of a study done by Technavio about the probable future changes in the personalized gift market. Technavio concluded that by the year 2024, the market will have reached USD 1.59 billion. Award Crafters was pleased to hear about this prediction and are eager to continue providing optimal personalized items for their customers.
The report lays out the details of each plausible scenario within the personalized gift market, including an optimistic scenario, a probable scenario, and a pessimistic scenario. According to the data, Technavio stated that the market is set to grow by at least three percent during the year 2021 alone.
The question is what is driving this growth. Technavio believes that the pandemic is a contributor to this projected growth. Because of the stress and heartache that the pandemic brought on, people, businesses, and organizations are looking for ways to show others how much they care. This will drive the market to become saturated with gift items, and thus, an influx of personalized gift items will arise. In addition, there is another type of product that is gradually entering the personalized gift industry: 3D printed products.
Technavio believes that 67 percent of the market growth will come from non-photo items. Part of the reason for this is that there are several custom products that are becoming more popular, such as personalized songs, personalized podcasts, personalized coolers, and more. As the personalized gift market expands into these niche areas, the industry is bound to grow.
Award Crafters has been serving the Washington DC and Arlington, VA areas since 1964. They strive to provide their customers with the best experience possible, always offering the highest-quality products at great prices. Award Crafters carry many products, such as custom trophies, corporate awards, sports awards, personalized gifts, and recognition items. To view their collection, visit Award Crafters online at www.awardcrafters.com or give them a call at (703) 818-0500 for further inquiries.
For more information about Award Crafters, Inc., contact the company here:
Award Crafters, Inc.
8854 Rixlew Lane
Manassas, VA 20109