Valve has announced changes to how gifting works on Steam. Originally, users could buy games as gifts and then save them in their inventory to send to a friend later on. The gift could then be sent directly through Steam to friends or via email if you aren't friends with who you are sending the gift to. In Valve's announcement, they said that you can no longer store gifts in your inventory to send in the future and you can no longer send gifts via email.
In order to send a gift now, you have to choose a recipient of the gift when you buy it and a time for when you want the gift to be delivered. This allows you to schedule a gift to be sent weeks in advance. If the receiver refuses the gift then the sender will be given a refund. When buying a gift, it will also tell you if the game is region locked so you don't send it to someone who can not use the game where they live. Steam will also prevent a game from being traded to someone if there is a large difference in price so users don't take advantage of regional pricing.
I personally think that this isn't a good move by Valve as the old gifting system was one of the things that made the store unique compared to rivals and taking this away may annoy users.
Do you like the changes that Valve has made to Steam's gifting system? Feel free to let us know down in the comments.