The global demand for Gift Card Market is presumed to reach the market size of nearly USD 3068.56 Billion by 2032 from USD 565.64 Billion in 2023 with a CAGR of 20.67% under the study period 2024-2032.
Gift card refers to a preloaded debit card that allows the cardholder to use it for the purchase of services and goods with the ability to add funds to the card and continue using it. It is added with the benefit that purchases are automatically deducted and that the card is entirely transferable. Some gift cards can be used anywhere while some can be used only for selected retailers. It is also known by names gift voucher, gift certificate, and gift token. It is used as an alternative to cash for purchases within a particular store or associated businesses.
Market Dynamics
The growing trend toward going cashless is driving the growth of the market. The cashless transfer is becoming the most preferred option and there are a number of benefits of going cashless. Using gift card eases the transaction, and help to curb corruption and the flow of black money. Gift cards are generally redeemable for purchases at retail premises and cannot be cashed out, but sometimes distributed by marketers and retailers as part of a promotion strategy. A business distributes gift cards to secure guaranteed sales, to gain brand awareness and an increase in customer loyalty. This is projected to flourish the growth of the market during the forecast period. However, the availability of other more convenient cashless transaction facility is hampering the growth of the market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Gift Card. The growth and trends of Gift Card industry provide a holistic approach to this study.
Market Segmentation
This section of the Gift Card market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Closed-Loop Gift Cards
- Open-Loop Gift Cards
By Distribution Channel
By Form
By Ability To Reload
- Non-Reloadable Gift Cards (Retail Gift Cards, Promotional Cards, Incentive Cards)
- Reloadable Gift Cards (General Purpose Reloadable Cards (Gpr), Corporate/Business Cards, Teen And Student Cards)
By Application
- Personal Finance
- Marketing & Promotions (E-Commerce, Fashion & Lifestyle, Grocery & Supermarket, Gaming & Entertainment, Online Streaming)
- Hospitality & Travel (Dining & Restaurant, Travel & Hotel, Spa & Wellness)
- Education
- Non-Profit & Charity
- Other Applications
By End User
- Retail Consumers
- Corporate Institutions
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Gift Card market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Gift Card Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Gift Card market include Amazon. Com Inc., American Express Company, Blackhawk Network, Fiserv Inc., Givex Corporation, InComm Payment LLC. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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