Global Gift Cards Market: Trends, Analysis, and Future Outlook According to the Latest Report by Straits Research

Published March 6, 2023

Gift Cards Market Growth

A gift card, also known as a gift certificate or gift voucher, is a prepaid card or digital code that can be used to purchase goods or services at a specific retailer, restaurant, or online store. It allows the recipient to choose the products they want to buy, rather than receiving a specific item as a gift.

Gift cards can be purchased from retailers or online stores, and they can be physical cards or digital codes that can be emailed or sent as a text message. They typically have a predetermined value, such as $25 or $50, but some retailers may allow the purchaser to customize the amount.Gift cards are a popular choice for gift-giving because they allow the recipient to choose something they actually want or need, rather than receiving a gift that may not be to their liking. They are also convenient for the purchaser, as they can be easily purchased and sent without the need to wrap and ship a physical gift.

One potential downside of gift cards is that they can expire or lose value over time, depending on the retailer’s policies. Additionally, some gift cards may have fees associated with them, such as activation fees or maintenance fees, which can eat into the card’s value.

The gift card market is expected to continue growing in the coming years due to several factors. One major factor is the increasing popularity of online shopping and e-commerce, which has made it easier for consumers to purchase and redeem gift cards digitally.

Another factor is the rise of mobile payments and digital wallets, which has made it even more convenient for consumers to store and redeem gift cards on their mobile devices.

In addition, retailers are increasingly using gift cards as a way to drive sales and promote customer loyalty. By offering gift cards as rewards for purchases or through loyalty programs, retailers can encourage repeat business and increase customer engagement.

The COVID-19 pandemic has also had an impact on the gift card market, with many consumers turning to gift cards as a way to support their favorite local businesses during lockdowns and restrictions.

However, there are also potential challenges facing the gift card market, such as the possibility of fraud and the need for retailers to ensure that gift cards are properly activated and redeemed. In addition, there is the risk of gift cards being lost or forgotten, which can result in unused funds and lost revenue for retailers.

According to the Straits Research, Gift Cards Market Size is Projected to grow at a CAGR of 16.4% during the forecast period.

Competitive Landscape

Some of the prominent players operating in the Gift Cards market are

  • com Inc
  • American Express Company
  • Blackhawk Network Holdings Inc
  • Fiserv Inc
  • Givex Corporation
  • InComm Payments
  • PayPal Inc
  • Paytronix Systems Inc
  • Qwikcilver Solutions Pvt Ltd.
  • Walmart Inc

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Studies explore the effects of COVID-19 on the upstream, midstream, and downstream sectors of the industry. In addition, this analysis provides extensive market estimations by putting an emphasis on data covering numerous factors that encompass market dynamics such as market drivers, market barriers, market opportunities, market risks, and industry news and trends.

This research also provides a dashboard view of prominent Organization, highlighting their effective marketing tactics, market share and most recent advances in both historical and current settings.

Global Gift Cards Market: Segmentation

As a result of the Gift Cards market segmentation, the market is divided into sub-segments based on product type, application, as well as regional and country-level forecasts. By Type

  • Closed Loop Gift Card
  • Open Loop Gift Card

By End-User

  • Retail Establishments
  • Corporate Institutions

By Regions

  • North America
  • Europe
  • Asia-Pacific

The report forecasts revenue growth at all the geographic levels and provides an in-depth analysis of the latest industry trends and development patterns from 2022 to 2030 in each of the segments and sub-segments.

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The following are the report’s key features:

  • It gives useful information on the Global Gift Cards Market.
  • Information for the years 2022-2030 is provided.
  • Market-related important factors are highlighted.
  • The latest technological innovations, government restrictions, and developments are presented.
  • This paper investigates advertising and marketing techniques, market trends, and analysis.
  • Growth projections and analyses by forecast 2030.
  • The statistical analysis of the market’s leading competitors is emphasised.
  • Gift Cards Market summary based on extensive study.

Other aspects of the report include:

  • Provides a complete review of important tactics in numerous firms, with an emphasis on corporate structure, R&D processes, localization strategies, manufacturing capabilities, sales, and performance.
  • Provides essential product portfolio information, including product planning, development, and positioning.
  • Analyzes the role of significant market participants, as well as their collaborations, mergers, and acquisitions.

Table of Content

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Gift Cards Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. The threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Component Overview
  5. Deployment Model Overview
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. North America
    3. Europe
    4. Asia Pacific
    5. LAMEA
  7. Company Profile
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

The Table of Contents and Figures of the Full Report are available for your perusal Gift Cards Market Report with TOC

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