Moonpig was founded with a goal to disrupt the traditional greetings industry. Two decades on, we are an established leader within the online gifting market, offering a wide range of products to customers across the UK, the Netherlands and the Republic of Ireland.
The total gifting market in these countries is worth approximately £57 billion. That covers consumer spending across our three segments: greeting cards, card-attached gifts and standalone gifts.
spent on gifting in our markets in 2019
active customers as at 31 October 2020
Revenue from cards currently accounts for 54% of our business. The total card market is large and broadly stable, being worth approximately £2.0 billion. Card purchasing remains non-cyclical, with changing macroeconomic conditions historically having minimal impact on consumer spending.
people purchased a greeting card during the last year
Moonpig UK market share among online card specialists
Greetz market share in the Netherlands among major online card players
As of 2019, online penetration of the market was approximately 10% in the UK and approximately 13% in the Netherlands, and growing. The online cards market is expected to grow at a CAGR of approximately 12.5% and 7.4% by 2024, in the UK and the Netherlands respectively.
We remain the clear online market leader in cards. Moonpig holds a 60% market share in the UK among online card specialists, underpinned by 89% brand awareness. Greetz has a 65% market share in the Netherlands among the top three online card players, as well as 81% brand awareness.
UK online penetration
Netherlands online penetration
Card-attached gifting makes up 40% of our business. The card-attached gifting market in our geographies is worth £24 billion, with online purchases making up approximately 12.5% of that. The market is predicted to grow the fastest of our three product areas by 2024 and we expect it to provide a significant opportunity for the Group in the coming years.
Standalone gifts account for the final 6% of our business. Revenue from standalone gifts has grown steadily in recent years, and increased our average order value. There is potential to expand our focus on the standalone flowers and gifting categories, but growth in standalone gifting is not currently a strategic priority.
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 States and £22 billion for Australia, and we believe we can expand our presence in these markets in the future.
All market figures provided by OC&C, estimates compiled for 2019 - download the market report here.