What Is The Impact Of COVID-19 To The Global Souvenirs Market
Figure 1 – COVID-19 Era
The Impact Of COVID-19 Epidemic On The World Tourism
Figure 2 – Highway before COVID-19
Since the end of 2019, the COVID-19 pandemic has spread around the world at an unprecedented rate. The number of infections reached 120 million, the death toll exceeded 2.67 million, and economic activities have almost stagnated. The impact on the world economy far exceeds that of the First World War & the Second World War.
The June 2020 Global Economic Outlook predicts that global GDP will shrink by 5.2% in 2020, which is the most serious global recession in decades, despite the tremendous efforts of governments with the support of fiscal and monetary policies to cope with the economic downturn. Because countries have adopted very strict control measures, COVID-19 has had a fatal blow to the world’s tourism industry, and tourism-related industries have been hit even more, such as the tourist souvenir industry.
Post-COVID19 Era, Prospects For The Recovery Of World Tourism
3- Souvenirs Opportunity During COVID-19
Standing at this point in the first quarter of 2021, the number of COVID-19 infections and deaths is gradually flattening, vaccines in various countries have been vaccinated one after another, and people are beginning to predict the development trend of the world economy after COVID-19.
Figure 4 – Travel Spending chart
The American Travel Association and Oxford School of Economics predict that due to the impact of COVID-19, global spending on tourism will be reduced by 45.2% in 2020. As the epidemic gradually ends, it may increase by 23% in 2021 and is expected to continue to maintain at 25.5% in 2022. The growth rate will fall back to around 9% in 2023.
After two years of industry-low period, the world’s tourism and souvenir industries will face a reshuffle during the COVID-19, some small & medium tourist souvenir enterprises will be eliminated, and some souvenir wholesale companies and retailers with serious losses will switch to other industries businesses.
COVID-19 is a reshuffle of the world tourism & souvenir industry, and there are opportunities in the crisis.
Because of expectations that the British government will release travel restrictions in the summer of 2020, the UK’s biggest airline, EasyJet, reported that flight bookings had spiked by more than 300 percent, while holiday bookings were up by more than 600 percent week-on-week. Spain, Portugal, and Greece were among the most popular destinations, with August, July, and September being the top months for travel.
TALMUD’s Analysis And Forecast Of The World Tourist Souvenir Market
1, The market position of traditional tourism powers will also be the leaders
The United States, France, Spain, the United Kingdom, the Netherlands, Greece, and other European and American countries will continue to be the preferred destinations for people in the post-COVID-19 era.
The souvenir industry will rebound strongly and return to a similar level before the epidemic at a faster rate in these countries.
TALMUD will maintain the cooperative relationship with regular souvenirs wholesale customers in these countries, develop new customers in some European and American countries with a key layout, and create an ecological tourist & souvenirs circle together.
Figure 5 – USA Souvenir Magnet
This kind of fridge magnet is very popular in the USA souvenir market. The material is epoxy+ MDF wooden+ art paper with LOGO printing+ soft magnet, all the raw material is eco-friendly. It is your best choice for the children’s gifts.
Figure 6 – France Van Gogh Souvenir Metal Tray
This kind of souvenir serving tray is printed with Van Gogh‘s famous painting, it is one of a series of designs. TALMUD produces many souvenir trays for the European souvenir market with collectible retails, also can be for promotional gifts if you like.
Figure 7 – Spain Souvenirs
Barcelona is a famous tourist souvenir city in Spain, with tens of millions of tourists every year. TALMUD has been focusing on the manufacturer of Spanish souvenirs for more than 15 years in China. Most of our Spain souvenir designs are from Spain’s traditional culture.
Figure 8 – Great Britain Souvenir Mug
Souvenir mugs are very popular in souvenir markets in the world. You can buy mugs for coffee, or as a gift for your friend. TALMUD has supplied ceramic mugs & cups for many souvenir wholesale companies globally. Your mugs will be promised 100% good quality for retails.
Figure 9 – Netherlands Souvenirs Shop
There are many different kinds of souvenir shops in the Netherlands, the souvenirs also have their own national characteristics, such as iconic buildings, tulips, windmills, blue and white porcelain designs, and so on.
Most of the materials are wood, ceramic, or acrylic. TALMUD produces many souvenir projects every year for the Netherlands’ online & offline souvenir shops retails.
Figure 10 – Greece Souvenir Magnet
This kind of tinplate souvenir magnet is very traditional in Greece, almost 30% of Greece souvenir magnets are printed with Santorini landscapes. If you fear the colors fading due to sun exposure, TALMUD can print your designs on the PP film.
2, The Southeast Asian souvenirs market will increasingly become the preferred choice for Chinese to travel abroad
After experiencing the COVID-19 epidemic, Chinese people will pay more attention to improving their quality of life and accompany their families to travel abroad, especially young persons accompany their parents.
With the advantages of nearby countries, similar lifestyles, less jet lag, etc, the proportion of the Southeast Asian market will gradually increase. For Example, Thailand’s Buddhism, Indonesia‘s islands trip, Malaysia‘s durian trip, and other special tourism.
The arrival of more and more Chinese tourists has enabled the rapid recovery of the tourism souvenirs industry in Southeast Asia and has also affected the local souvenirs category. For example, Feng Shui ornaments are the highlight of Malaysian souvenirs retail, especially during the Chinese Traditional New Year of 2021, there was a wave of sales peak in Feng Shui ornaments souvenirs. Relieved some pressure on local souvenir distributors.
Figure 11 – Thailand Souvenir Store
Since the 21st century, there are many souvenir stores in Thailand, selling tourist souvenirs with Thai characteristics, such as Buddhist culture, elephants, and weaving products. When tourists come to Bangkok, they will also buy some tourist souvenirs while tasting Thai food and watching the scenery.
Figure 12 – Indonesia Souvenir Wooden Mask
Bali, Indonesia is a world-famous tourist destination. The islands, beaches, and local customs of Indonesia attract many tourists from all over the world to Indonesia every year. TALMUD has regular partners in Indonesia, and welcomes you to travel to Indonesia!
Figure 13 – Malaysia Souvenirs
The Petronas Twin Towers in Malaysia are a must for tourists to come to Kuala Lumpur. With the twin towers design, TALMUD produces souvenir keychains, souvenir refrigerator stickers, souvenir coasters, souvenir statues, etc.
As the world economy gradually recovers in the post-COVID-19 era, Central America, Africa, and other countries will usher in historic opportunities for their tourism. Such as Cuba, Mauritius, Nicaragua, and other countries, the original ecological tourism will be an opportunity for these countries to revitalize the tourism industry.
Figure 14 – Cuba Souvenir License Plate
TALMUD manufactures many kinds of souvenir license plates with beautiful designs, as well as license plate keychains, embossed license plate magnets, license plate photo frames, etc. You can purchase souvenirs with a lower MOQ from TALMUD, one of the leading souvenir manufacturers and suppliers in China.
Figure 15 – Mauritius Souvenirs
As a tourist destination in the southern hemisphere, Mauritius attracts many European and American tourists every winter. Believe me, Mauritius is the right choice for you.
Figure 16 – Nicaragua Souvenir Shops
Do you believe that the souvenirs from Nicaragua are already on Amazon? TALMUD specializes in the manufacturing of souvenirs for your Amazon souvenir online shops.
4, The tourism industries opportunities in Japan, South Korea
Japan will host the Olympic Games in 2021, the first Olympic Games the post-COVID19, which will provide a favorable boost to Japan’s economy, especially the tourism industry including souvenirs.
The tourist attractions represented by Mount Fuji and the cartoon character designs represented by the animation industry are the advantages of Japanese souvenir development.
Figure 17 – Japan Souvenir Acrylic Magnet
You can print Mount Fuji, cartoon figures, Japanese building designs on the surface of souvenirs, the tourists will be attracted by the Japanese culture and enthusiasm. The Tokyo Olympics is a very good opportunity for your souvenir wholesale and retails.
South Korea’s tourism industry relies heavily on China, cosmetics, accessories, and other Korean-style products, which is an important growth point that promotes the recovery of South Korea’s tourism economy, especially for generation Z young people in China.
Figure 18 – Korea Souvenir Metal Magnet
Koreans like exquisite and beautiful souvenirs very much， such as metal souvenir magnets, keychains, etc. Many tourists buy souvenirs in souvenir shops for collection.
The Advantages Of TALMUD
TALMUD has been engaged in the tourism & souvenirs industry for more than 15 years in China. Relying on China’s strong manufacturing capabilities, especially in souvenirs, TALMUD has grasped the development trend of the global tourism & souvenirs industry and contributed to the growth of the world tourism & souvenirs industry.
Emphasize long-term win-win cooperation with key customers
In each major country and region, Talmud selects 2-3 key customers for cooperation and grows together with customers based on the concept of integrity and win-win.
Figure 19 – Italy Souvenir T-shirt from TALMUD
100% quality assurance measures
In order to protect customers’ credibility in the local tourist souvenir industry, TALMUD guarantees that 100% quality is available for retail sale, and wins more market share for customers.
Figure 20 – Leather Singapore Souvenir Bag from TALMUD
Measures to keep prices unchanged for key customers in 3-5 years
In order to ensure long-term and stable cooperation with key customers and reduce price fluctuations, Talmud will provide key tourist souvenir wholesalers with constant price services for 3-5 years, which will help customers focus on market development.
Figure 21 – Souvenir Art Placemat from TALMUD
Close communication mechanism
In order to ensure that customers’ needs are met for the first time, Talmud provides 7×24 hours of communication channels, visits key customers, and establishes strategic partnerships.
Figure 22 – Van Gogh Souvenir Apron from TALMUD
Development of new tourist souvenirs
Talmud based on its rich experience in the tourist souvenir industry, Talmud keenly grasps the development trend of the tourist souvenir industry and continuously develops tourist souvenirs that meet the needs of the markets of various countries to ensure the competitive advantage of customers.
Figure 23 – Museum Souvenir Umbrella from TALMUD