Gift Card Market, By Type (Universal accepted open loop, Restaurant closed loop, Retail closed loop, Miscellaneous closed loop, E-Gifting), By Merchant (Restaurant, Department store, Grocery stores/food supermarket, Discount store, Coffee shop, Entertainm

Gift Card Market, By Type (Universal accepted open loop, Restaurant closed loop, Retail closed loop, Miscellaneous closed loop, E-Gifting), By Merchant (Restaurant, Department store, Grocery stores/food supermarket, Discount store, Coffee shop, Entertainment, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

The global gift card market has been witnessing sustainable growth over the past few years due to the increasing preference for digital and plastic card-based gifts over conventional gift items. Gift cards allow the recipient to choose an item of their choice from a selected retailer based on the value loaded in the card. They provide convenience to both givers and receivers and help increase sales for retailers. With rising internet penetration and growth of e-commerce, digital gift cards that can be sent via email are gaining popularity. Growing adoption of innovative payment solutions and rising disposable income of consumers are some of the key factors expected to drive the demand for gift cards in the coming years. However, security concerns around digital gift cards may restrain the market to a certain extent.

Market Dynamics:

The global gift card market is driven by growing adoption of innovative payment solutions, increasing preference of recipients over traditional gifts and rising disposable incomes of consumers. Gift cards provide flexibility, convenience and instant gratification to both givers and receivers which has boosted their demand substantially. They help retailers raise sales by allowing recipients to spend money at their stores thus acting as an opportunity. However, security concerns around digital gift cards, especially those sent via email, continue to pose a challenge. Identify theft and fraudulent use of cards affect consumer confidence negatively, restraining market growth. Advancements in fraud detection technologies are expected to ease some of the concerns going forward. Development of apps for easy redemption and check of balances on mobile phones also presents an opportunity for players in the market.

Key features of the study:

• This report provides in-depth analysis of this market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in this market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Apple Inc., Amazon.com Inc., Best Buy Co., Inc., Starbucks Corporation, Target Corporation, and Wal-Mart Stores, Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• This market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing this market.

Detailed Segmentation:

• Global Gift Card Market, By Type
• Universal accepted open loop
• Restaurant closed loop
• Retail closed loop
• Miscellaneous closed loop
• E-Gifting
• Global Gift Card Market, By Merchant
• Restaurant
• Department store
• Grocery stores/food supermarket
• Discount store
• Coffee shop
• Entertainment
• Others
• Global Gift Card Market, By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
• Top Companies in this Market
• Apple Inc.
• Amazon.com Inc.
• Best Buy Co., Inc.
• Starbucks Corporation
• Target Corporation
• Wal-Mart Stores, Inc.