The Home & Gift Association (HGA) has welcomed the publication of a new independent economic impact report revealing that the UK gift economy contributes £58.2 billion in Gross Value Added (GVA) and supports 844,545 full-time equivalent jobs across the UK economy.
The findings are published in The Economic Contribution of British Allied Trades Federation Industries, an independent report produced by the Fraser of Allander Institute at the University of Strathclyde and commissioned by the British Allied Trades Federation (BATF). The report examines the economic impact of industries represented by BATF, including the Home & Gift Association, National Association of Jewellers and Surface Engineering Association.
The report estimates that annual gift-related expenditure in the UK reaches approximately £38.2 billion, with spending across occasions such as Christmas, birthdays, weddings, graduations, new homes and other life events generating substantial economic activity throughout the retail sector and wider supply chain.
Using a demand-side economic model, researchers found that gift-related spending directly supports more than 421,000 jobs and contributes nearly £21.8 billion in GVA, with wider indirect and induced impacts increasing this contribution to 844,545 jobs and £58.2 billion in GVA.
The report also recognises the role of the Home & Gift Association as the UK’s leading trade association for the homeware and giftware sectors, representing retailers, suppliers, designers and independent makers while supporting the sector through member services, events, buyer engagement and industry representation.
Gemma Sault, Managing Director of the Home & Gift Association, said: “For years, our industry has known the value it brings to the UK economy, but this report provides the independent research and evidence to demonstrate it. The findings are remarkable and show that gifting is not simply a retail category it is a major economic force that supports hundreds of thousands of jobs, billions in economic activity and businesses in every corner of the UK.
“From independent retailers and emerging brands to established suppliers and manufacturers, our sector helps people celebrate life’s most important moments whilst making a significant contribution to the UK economy. This research gives our industry a stronger voice and reinforces the importance of ensuring the home and gift sector is recognised, supported and championed by policymakers and stakeholders alike.”
The publication comes at a significant moment for the organisation following its recent rebrand from The Giftware Association to the Home & Gift Association, reflecting the breadth and diversity of the sectors it represents. The report provides a valuable evidence base for future industry advocacy, helping to raise awareness of the sector’s contribution to employment, economic growth, innovation and consumer spending across the UK.
The report concludes that the industries represented by BATF collectively contribute more than £70.2 billion in GVA and support over one million jobs across the UK economy, underlining the importance of specialist trade associations in supporting key sectors of British business.
Featured image is from Spring Fair, the largest retail trade show in the UK.
