Moonpig was founded with a goal to disrupt the traditional greetings industry. Two decades on, we are the established leader within the online greeting card market and offer a wide range of gifts to customers across the UK, the Netherlands and the Republic of Ireland.
The total gifting market in these countries is worth approximately £60 billion1. That covers consumer spending across our three segments: greeting cards, card-attached gifts and standalone gifts.
Spent on gifting in our markets in 20231
Greeting cards
Revenue from cards currently accounts for 50% of our business. The total card market is large and broadly stable, being worth approximately £2.01 billion across the UK, Ireland and the Netherlands. Card purchasing remains non-cyclical, with changing macroeconomic conditions historically having minimal impact on consumer spending.
People purchased a greeting card during 20192
Moonpig UK market share among online card specialists in 20231
Greetz market share in the Netherlands among major online card players in 20231
OC&C estimates that for calendar year 2024, online penetration of the market will be approximately 16% in the UK1 and approximately 21% in the Netherlands1, and growing in both markets, further demonstrating the potential for future growth.
We remain the clear online market leader in cards. In calendar year 2023 Moonpig held a 70% market share in the UK1 among online card specialists. For calendar year 2023 Greetz had a 65% market share in the Netherlands1 among the top three online card players. Both brands continue to be underpinned by very strong brand awareness.
UK online cards market estimated penetration in 20241
Netherlands cards market online estimated penetration in 20241
Total Addressable Gifting Market
The overall total addressable gifting market across the UK, the Netherlands and Ireland is £58 billion1 and includes both card-attached gifting and standalone gift purchases. It comprises £40 billion in the UK, £15 billion in the Netherlands and £3 billion in the Republic of Ireland1.
For the UK, this total addressable market included c.£6.5 billion relating to the gift experiences segment1 which is growing at a faster rate than total gifting as a result of the secular consumer trend towards experiential gifting such as days out, meals and activities. Specialist platforms such as Red Letter Days and Buyagift have consistently increased their share of the total gift experiences segment by providing assurance of quality together with superior choice and flexibility. With the leading platform in a large and fragmented market, we are well positioned to grow our share of the growing gift experiences market segment.
Card-attached gifting
Card-attached gifting makes up around a third of our business. The card-attached gifting market in our geographies is worth £24 billion1, with online purchases making up a significant proportion of that, and we expect it to provide a significant opportunity for the Group in the coming years.
Standalone gifts
Standalone gifts account for a relatively small part of revenue at Moonpig and Greetz (around 3%). Revenue from standalone gifts has a favourable impact on our average order value and there is potential to expand our focus on the standalone flowers and gifting categories. However, growth in standalone gifting is not a strategic priority.
Other markets
We also sell products in the US and Australia, with local websites and operations networks tailored to those markets. Total gifting spend is approximately £158 billion for the United States2 and £22 billion for Australia2, and we are performing targeted testing to identify profitable ways to scale customer acquisition in these markets.
1. Source: OC&C 2024 - download the June 2024 Market Update here.
2. Source: OC&C 2019 - download the December 2020 Market Report here.