Gift Cards Market By Card Type (Closed-loop Card, Open-loop Card), By End User (Retail Establishment, Corporate Institutions): Global Opportunity Analysis and Industry Forecast, 2023-2032
A gift card is a prepaid card that can be used as an alternative to cash to make purchases at a specific store or group of stores. The card has a monetary value that can be spent on any merchandise or services offered by the retailer, up to the card's value. Once the card is fully used or the balance is depleted, it cannot be reloaded or reused. Gift cards can be physical cards, such as a plastic card that resembles a credit card, or digital cards that can be sent through email or mobile apps. They can be purchased at the retailer's store, online, or at third-party locations such as supermarkets or pharmacies. Some gift cards come with an expiration date or fees, so it's important to read the terms and conditions before purchasing or using a gift card. Additionally, some gift cards can be used online or in-store, while others may only be valid for one or the other.
Increased usage of gift cards as rewards and incentives is a major propelling factor for the growth of gift cards market as these cards are majorly used as rewards and incentives by various users such as corporate offices use to give these cards as rewards and incentives to their employees. In addition, making online payments to a merchant offers gift cards as rewards. Therefore, this is a major growth factor for the market. Moreover, increasing demand for digital gifting options and customer preference for experiences over tangible gifts are major driving factors for the gifts card market. However, security concerns pertaining to the use of gift card is a major restraining factor for the market growth as hackers and fraudsters may hack the gift card and use it for illegal purposes. Furthermore, limited acceptance of gift cards is also a major factor hampering the growth of the market. On the contrary, rising popularity of gifts card among different users including corporate clients and individual users along with easy transferable feature of a gift card will provide major lucrative opportunities for the growth of the market
The gift card market is segmented on the basis of card type and end user. Based on card type, the market is segmented into closed-loop cards and open-loop cards. On the basis of end user, it is segmented into retail establishments and corporate institutions. By region, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the Gift card market such as Amazon.com, Inc., American Express Company, Blackhawk Network Holdings, Inc., Fiserv, Inc., Givex Corporation, InComm Payments, PayPal, Inc., Paytronix Systems, Inc., Qwikcilver Solutions Pvt Ltd., and Walmart Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the Gift card market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the gift cards market analysis from 2022 to 2032 to identify the prevailing gift cards market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the gift cards market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global gift cards market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Card TypeClosed-loop Card
Open-loop Card
By End UserRetail Establishment
Corporate Institutions
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Netherlands
Spain
Italy
Nordic Countries
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Amazon.com Inc.
American Express Company
Blackhawk Network
Fiserv, Inc.
Givex Corporation
InComm Payments LLC
PayPal, Inc.
Paytronix Systems, Inc.
Qwikcilver Solutions Pvt Ltd.
Walmart Inc.
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