The gift box market - Spain

1.2 The global market

The gift box market is a very recent development, and does not exist in many countries. It is mainly concentrated in Europe.

The European gift box market was estimated at * billion euros in ****. it was estimated at * billion euros in ****. France accounts for more than a quarter of European sales, reflecting the fact that the French market is much more mature than in other countries [***]

There are considerable differences between countries, with France generally being more fond of gift boxes. For example, while the average basket is around ** euros in France, it is ** euros in the Netherlands [***]

Wonderbox CEO Fabrice Lépine explained in ****: "We tried and gave up in four countries: Portugal, Poland, Germany and Japan, each time for different reasons. We gave up in Portugal after establishing ourselves at the height of the crisis, despite fairly healthy market fundamentals. In Germany and Poland, we came up against cultural reticence and a different conception of leisure and weekends, compounded by distribution networks that were too complex to set up. In Japan, a gift is above all an object that is given. Offering an experience was seen as a cultural contradiction" [***]

Moreover, as in France, the European market is highly concentrated, ...

1.3 The domestic market

Methodology:

To estimate the value of the Spain gift sets market, we have proceeded as follows:

**** : The market value was estimated by DBK in that year. [***] **** : In order to estimate the market value, we based ourselves on two main pieces of information. The first is Smartbox's sales figure for **** (***), taken from this article: Agencias de viajes. In order to estimate the national market, we then used the market shares of the various players. That year, the CNMC estimated Smartbox's market share at between **% and **%. Consequently, the low estimate of the market corresponds to a market where Smartbox held **% of the latter share. The high estimate corresponds to a market where Smartbox held **%. ****: In the absence of precise data on the Spanish national market, we have proceeded as follows: In ****, Smartbox generated around **% of its worldwide sales in Spain. We estimated this share using the data available for that year. (***). By ****, Smartbox would have achieved €*** million in international sales[***]. To estimate the domestic market in ****, we assumed that, as in ****, the Spanish market would account for **% of Smartbox sales. We then assumed that the market shares of the various players in the gift box market had not changed between **** and ****, and ...

2.1 Seasonal demand

Analysis of Google Trends indices for the search "Cajas de regalo" in Spain between **** and **** shows marked peaks of interest each year in November and December, suggesting a seasonal effect linked to gift buying during the festive season. In January ****, interest starts at **.**, then fluctuates throughout the years with notable drops in July each year, reaching lows such as **.** in July ****. November and December consistently record the highest indices each year, peaking at **.* in December ****. This recurring pattern clearly indicates that Spanish consumers are particularly interested in gift boxes during the festive season, which may reflect purchasing trends for Christmas and New Year gifts. Wonderbox generates **% of its worldwide sales at the end of the year, particularly at Christmas time. [***]

Evolution of "Cajas de regalo" search interest Spain, ****-****, google Trends indices Source: ****

In ****, interest in the search "cajas de regalo" in Spain varied considerably from region to region, according to Google Trends indices. La Rioja showed the greatest interest with a maximum index of ***, indicating very high popularity for this search in the region. in contrast, Islas Baleares and Cataluña recorded some of the lowest indexes, ** and ** respectively, reflecting less interest. Other regions such as Extremadura and Castilla-La Mancha ...

2.2 Consumer profile

In the absence of more recent data, the following data are from ****. Nevertheless, we can assume continuity in consumer characteristics in this market.

In Spain in ****, the segmentation of gift sets based on the experiences offered was dominated by vacation stays, accounting for **% of the market, while miscellaneous experiences made up **%.

Gift set segmentation based on experience offered Spain, ****, % Source: ****

In Spain in ****, segmentation of gift box buyers by gender revealed that women were significantly more likely to purchase this type of product, accounting for **% of purchases, compared with **% for men. This distribution highlights a trend where women are taking more initiative in purchasing experiential gifts, which may reflect their preferences or their traditional role as gift planners in family and social contexts

Segmentation by gender of gift box buyer Spain, ****, % Source: ****

In Spain in ****, the majority of gift sets were for loved ones, accounting for **% of purchases. Friends accounted for **% of recipients, while professional colleagues and purchases for oneself made up a more modest portion, at *% and *% respectively. This breakdown clearly illustrates that gift sets are mainly used to strengthen personal and family ties, and less for professional or personal contexts.

Destinations of gift sets after purchase Spain, ****, % Source : Hosteltur In ...

2.3 Tourism in Spain

Between **** and ****, Spain saw notable fluctuations in the number of tourists, measured in millions of people. From **** to ****, there was a modest increase of *.**%, followed by another small rise of *.**% in ****. However, in ****, tourist numbers dropped dramatically by **.**% due to the impacts of the COVID-** pandemic. Recovery began in **** with an impressive increase of **.**%, followed by a very sharp rise of ***.**% in **** as travel resumed. The flow of tourists continued to grow in **** with an increase of **.**%, and the positive trend continued in **** with growth of **.**%.

Tourist numbers in Spain Spain, ****-****, millions of people. Source: ****

In ****, tourist satisfaction levels in Spain were exceptionally high, with **% of visitors declaring themselves satisfied or very satisfied with their travel experience. This positive assessment testifies to the quality of services and attractions that Spain has to offer. What's more, these positive experiences strongly influence return intentions, with **% of tourists expressing their desire to return to Spain within the next twelve months. This trend underlines Spain's enduring appeal as one of Europe's leading tourist destinations.

Tourist satisfaction in Spain in **** Spain, ****, %, Spain, ****, %, Spain, ****, %, Spain, ****, % Source: RTVE In ****, data on tourists' main destinations in Spain show a varied distribution of preferences in terms of regions visited, ...

3.1 How it works

The composition and content of gift sets are designed to offer an enriching and flexible user experience. These elements are crucial not only to attracting the buyer, but also to ensuring the recipient's satisfaction. Here's a detailed exploration of each component typically included in a gift box:

Packaging:

The packaging of a gift box is often attractive and well-designed to capture attention on store shelves or online. The box itself is usually a sturdy, aesthetically pleasing box, often made from high-quality cardboard to protect its contents. This first visual contact is essential, as it forms the first impression for both buyer and recipient.

The Catalogue:

inside the box, the catalog is the central element that guides the user through the different offers available:

Variety of themes: Services are generally organized by theme-adventure, well-being, gastronomy, stays, etc.-allowing recipients to choose from a variety of themes.-Allowing users to choose an experience that matches their interests or passions. Detailed descriptions: Each activity is described in detail to inform the beneficiary of what to expect. This includes the duration of the activity, any equipment or services included, any restrictions (***), and other relevant information. Images and Visuals: Attractive photographs and high-quality visuals accompany descriptions ...

3.2 Market structure & player specialization

In ****, the market shares of the main players in the gift box market in Spain were estimated to be varied, with a few companies clearly standing out. Wonderbox and Smartbox dominated the market, with share estimates ranging from **-**% and **-**% respectively, reflecting their strong presence and popularity. Civitatis, also a significant player, shared similar estimates to Wonderbox, with shares ranging from **-**%. Other companies such as Turismodevino, Ticketmaster, Entradas.com, Relais & Chateaux, Aladinia, Isla de Regalos, Plan B, Njexperiences and Gastro Cult, although less preponderant, showed an emerging presence with market shares uniformly estimated between *-*%. The "Other" category accounted for a significant share of **-**%, indicating that the market remained open to numerous small players and diversified niches. This breakdown highlights the competitive dynamics and diversity of offers available to Spanish consumers in this sector

Estimated market share of gift box market players Spain, ****, % of total Source: ****

Player specialization:

In the gift set market, various players stand out for their specific offers and positioning. Wonderbox and Smartbox dominate the sector, offering a wide range of gift sets in categories such as stays, wellness, gastronomy and adventures. Both companies offer experiences across Europe, primarily targeting couples and families in search ...

3.3 Wonderbox's aborted takeover of Smartbox

The aborted merger between Wonderbox and Smartbox in Spain is a remarkable example of the complex dynamics of the "cajas regalo" or gift box market. Initially announced in **** and approved by the Comisión Nacional de los Mercados y la Competencia (***) in ****, the deal was intended to merge the two main players in Spain's vales regalo multiexperiencia market. However, in December ****, both parties decided to cancel the operation.

Background and Initial Approval:

Wonderbox, intending to acquire Smartbox, had received conditional approval from the CNMC. This approval was subject to Wonderbox's undertaking not to impose exclusivity conditions on its suppliers and distributors, which could have limited competition in the market.

Cancellation of the merger:

The decision to cancel the merger was taken after the CNMC asked Wonderbox to confirm the closing date of the transaction and to provide a report on compliance with the commitments made. Wonderbox responded by stating that the transaction had been cancelled, which led the CNMC to end its monitoring of the transaction's commitments.

Implications of the cancellation

The cancellation had several implications: Impact on the market: The merger would have created a dominant leader in the vales regalo multiexperiencia sector in Spain, potentially to the detriment of ...

3.4 Distribution

In Spain, gift sets are distributed through a variety of channels, targeting both individual consumers (***). These distribution methods include both physical and online outlets, with a direct sales strategy or via third parties.

B*C (***) distribution:

Online sales: Own Sites: Companies like Wonderbox and Smartbox sell directly through their own online platforms, offering a direct buying experience to their customers. Third-party platforms: These gift sets are also available on renowned e-commerce platforms such as Amazon, and on the marketplaces of major retailers like FNAC, El Corte Inglés, and Carrefour. These platforms increase product visibility and facilitate access to a wide audience. Physical sales: Superstores and Retail Boutiques: Physical outlets include well-established chain stores such as FNAC, Alcampo, El Corte Inglés, and Carrefour. These establishments offer a physical presence for those who prefer to see the product before buying. Travel agencies: These often act as commission agents, without taking any risk on the transaction. These agencies offer gift boxes as options for customers looking to offer travel or leisure experiences.

B*B (***) distribution:

Direct Sales to Businesses: Gift sets are sold directly to other companies, who use them as rewards or gifts for their employees or customers. This channel is ...

4.1 Offer typology

A first segmentation of the offer proposed by players in the gift box market can be made according to the specialization of companies in the market:

Segmentation by Experience Type

Gift sets have specialized in offering specific experiences such as hotel stays, adventure activities, or wellness and beauty sessions. Companies like Smartbox and La Vida es Bella have led this trend, offering experiences ranging from gourmet dinners to parachute jumps.

Geographic segmentation

Some boxes are designed to explore specific regions, such as Plan B's "Islas Canarias" boxes, allowing users to enjoy unique experiences in that particular location, increasing regional appeal and supporting local tourism.

Demographic segmentation

There are boxes designed for specific demographic groups, such as the "Kiddy's Box", geared towards families with children and offering activities suitable for younger children, from educational workshops to adventure parks.

Specific Theme Boxes

Companies like Enomórate and Enolife Experiences focus on wine tourism, offering packages that include vineyard tours and wine tastings, while others, like Driving Box, concentrate on driving experiences for adrenaline junkies.

Collaborations with Public Entities

Some gift boxes have been created in collaboration with local or regional governments, such as WonderBox's "Tu privilegio" box and the Junta de Castilla-León, ...

4.2 Prices

The adjoining table presents the offer of the ** most popular gift experience packages in Spain on Wonderbox in ****.

Source: ****

In ****, in Spain, Wonderbox offers show an interesting price segmentation based on the type of activity. Theme parks and stays are the most expensive, with average prices of €***.** and €***.** respectively, suggesting a strong demand for complete and extended experiences. Cultural visits also fall within a high price range, with an average of €***.**, offering enriching and educational experiences. Adventure follows with an average price of €***.**, indicating that stimulating activities remain popular among adventurous consumers. Sports present a more moderate average cost of €**.**, accessible for those looking to integrate physical activity into their leisure routine. Gastronomy, at €**.**, and wellness, at €**.**, offer more affordable options, attracting those interested in quieter pleasures or moments of relaxation. Finally, miscellaneous activities offer the lowest price at €**.**, allowing consumers to explore a variety of experiences without significant financial commitment. These data illustrate how Wonderbox adapts its prices to meet the diverse interests and budgets of its clientele

Moyenne des prix de l'offre de Wonderbox en fonction du type d'activité Espagne, ****, € Source: ****

In Spain, in ****, the average prices for the "stay" category at Wonderbox vary depending on the number of ...

5.1 Regulations

In Spain, experience gift packs are governed by Royal Legislative Decree */****, which provides the framework for consumer and user rights. This decree covers the legal guarantees of conformity and any defects or hidden faults in products, including the experiences and services offered in these gift sets. As such, companies selling these boxes must ensure that they meet these standards, and must offer solutions in the event of non-compliance, such as refunds or exchanges.

However, there are a number of concerns linked to theusability of these boxes. TheOrganization of Consumers and Users (***) has reported that there are often problems with the limited availability of dates for booking experiences, particularly in hotels at weekends or during high season. Often, establishments have a limited quota for accepting these gift boxes as a means of payment, and in some cases, customers have to pay extra to use their gift box.

On the other hand, according to Smartbox, one of the best-known suppliers of these gift boxes, they claim that their gift boxes do not expire, as they are renewable and exchangeable to maximize consumer flexibility. In addition, they state that they notify users when expiration is approaching, and offer options for changing or extending the ...

5.2 Wonderbox Terms of Use

Wonderbox in Spain offers a variety of advantageous conditions for its customers, guaranteeing an optimal and flexible user experience. Here are the main sales conditions that stand out in their operation:

Extended validity: Wonderbox products, such as gift boxes and gift cards, have a validity of over * years, offering a wide window to enjoy the experiences acquired. Free delivery: Wonderbox offers free delivery on all its products, making it easy to purchase gift sets and cards without additional shipping costs. free and unlimited exchange and extension: Users can exchange or extend their gift sets at no extra cost and unlimited within the validity period, which is a considerable advantage if plans change or you want to explore different options. Diversity of Products and Experiences: From getaways, event tickets and gourmet options to adventure and wellness activities, Wonderbox offers a wide range of experiences to suit diverse interests and special occasions such as Valentine's Day. Ease of use: Wonderbox's platform makes it easy to search for activities and venues, and manage gift boxes directly from their website, ensuring a hassle-free process for users. Personalization Options: Users can personalize their gift boxes with packaging options and special messages, adding a personal touch to ...

6.1 Segmentation

• Wonderbox
• Smartbox Group
• Relais & Chateau
• TicketMaster
• TicketMaster
• Entradas.com
• Turismo de vino
• Civitavis
• Isla de regalos
• Aladinia