China Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast; Spend Analysis by Digital / e-Gift Card, Retail and Corporate Consumers, Distribution Channel, Occasions, Retail Sectors, Open Loop, C

According to PayNXT360, gift card market in China is expected to grow by 8.0% on annual basis to reach US$191,627.0 million in 2025.

The gift card market in the country experienced robust growth during 2020-2024, achieving a CAGR of 9.4%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 7.1% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 177,367.3 million to approximately USD 252,228.1 million.

This report provides a detailed data-centric analysis of the gift card sector in China, covering market opportunities and risks across consumer segments (retail and corporate); product categories; retail sectors; and store formats. With over 100+ KPIs at the country level, this report provides a comprehensive understanding of gift card market dynamics.

It offers a comprehensive analysis of market dynamics in the gift card sector, segmented by digital and e-gift card sales, distribution channels, key occasions, demographic trends, and market share statistics of leading retailers. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

Key Insights

The Chinese gift card market is rapidly transforming, shaped by digitalization, mobile payment integration, and corporate adoption. The growing preference for digital gift cards and their seamless integration into platforms such as Alipay and WeChat Pay highlights the increasing role of technology in consumer purchasing behavior. As more businesses incorporate gift cards into incentive programs, demand for flexible and customizable solutions will continue to rise.

In the next few years, competition within the market is expected to intensify, with companies investing in enhanced digital experiences and personalized gift card solutions. The deepening integration of gift cards with mobile payment ecosystems will further embed them into everyday consumer spending habits. Businesses that adapt to these evolving trends by leveraging digital innovation and strategic partnerships will be best positioned to capitalize on the expanding Chinese gift card sector.

Expansion of Digital Gift Cards
• China is witnessing a significant rise in adopting digital gift cards, with consumers favoring their convenience and immediate delivery. Major e-commerce platforms, such as Alibaba's Tmall and JD.com, have broadened their digital gift card offerings to cater to this increasing demand.
• The surge in e-commerce activities, particularly accelerated by the COVID-19 pandemic, has been a primary driver for digital gift cards. China's e-commerce sector has grown rapidly, with significant revenue increases in recent years. This trend will continue as more consumers prefer online shopping for everyday essentials.
• The trend toward digital gift cards is expected to intensify, with projections indicating continued growth in the Chinese gift card market. Retailers will likely invest more in digital platforms and personalized e-gift card options to enhance customer engagement and loyalty.

Integration of Gift Cards into Mobile Payment Ecosystems
• Gift cards are increasingly integrated into China's dominant mobile payment platforms, such as Alipay and WeChat Pay. This integration allows users to seamlessly purchase, store, and redeem gift cards within their everyday payment applications.
• With over 900 million mobile payment users, China's digital payment infrastructure is highly advanced. The convenience of managing gift cards within popular mobile wallets has made them more appealing to consumers, driving further adoption.
• As mobile payment platforms continue to evolve, the integration of gift cards is expected to deepen, offering more personalized and versatile options. This development is likely to further embed gift cards into Chinese consumers' daily spending habits.

Growth in Corporate Adoption of Gift Cards
• Chinese businesses increasingly utilize gift cards as part of their employee reward and customer loyalty programs. Companies are adopting gift cards to incentivize performance and enhance satisfaction.
• The need for flexible and customizable reward solutions has led corporations to prefer gift cards over traditional incentives. Gift cards' versatility allows businesses to tailor rewards to individual preferences, thereby enhancing the effectiveness of their incentive programs.
• The use of gift cards in corporate settings is anticipated to grow, contributing significantly to the overall expansion of the Chinese gift card market. As companies seek innovative ways to motivate employees and retain customers, the demand for corporate gift card solutions is expected to rise.

Competitive Landscape of the China Gift Card Market

The Chinese gift card market is undergoing rapid transformation, driven by the increasing adoption of digital solutions, expansion of mobile payment integrations, and regulatory measures aimed at ensuring market transparency. Leading players such as Alibaba and JD.com continue strengthening their market presence, while new entrants are introducing innovative multi-brand and digital-first gift card options. The rise in strategic partnerships and acquisitions further shapes the competitive landscape, allowing companies to expand their offerings and reach a wider consumer base.

Over the next few years, market competition is expected to intensify as technological advancements and consumer preferences evolve. Established players will likely focus on enhancing digital offerings and exploring new payment-linked solutions, while new entrants may introduce innovative options such as cryptocurrency-based gift cards. Businesses that align with regulatory requirements and leverage digital transformation will be well-positioned to capitalize on emerging opportunities in China’s growing gift card sector.

Current Market Dynamics
• This expansion is driven by the increasing adoption of digital gift cards and their integration into mobile payment platforms. Both closed-loop cards, specific to individual retailers, and open-loop cards, usable across multiple merchants, contribute to this growth.

Key Players and Market Share
• Prominent companies such as Alibaba Group Holding Ltd and JD.com Inc dominate the Chinese gift card landscape, leveraging their extensive e-commerce platforms and technological capabilities to capture significant market share.
• In recent years, new entrants have introduced innovative products, including digital and multi-brand gift cards, catering to tech-savvy consumers and diversifying market offerings. For instance, startups are launching digital and multi-brand gift cards to cater to tech-savvy consumers and provide more flexible gifting solutions.

Recent Launches and Partnerships
• Companies in China’s gift card market are increasingly forming strategic partnerships to expand their digital offerings and reach a broader consumer base. E-commerce giants such as Alibaba and JD.com have collaborated with financial service providers to integrate gift cards into their digital payment ecosystems. These partnerships enable businesses to offer more seamless and accessible gifting solutions while enhancing customer engagement.
• Mergers and acquisitions are also crucial in-market consolidation, allowing larger firms to strengthen their competitive position. Companies are acquiring smaller or specialized firms to expand their portfolio of gift card services and gain a foothold in emerging market segments. This trend will continue as businesses seek to optimize distribution channels and increase scalability in the evolving Chinese gift card industry.

Anticipated Market Evolution (Next 2-4 Years)
• The competitive intensity in the Chinese gift card market is anticipated to increase, driven by technological advancements and evolving consumer preferences. Established players are expected to enhance their digital offerings, while new entrants may introduce innovative solutions such as cryptocurrency-based gift cards. Strategic partnerships and acquisitions are likely to continue as companies seek to expand their market share and diversify their product portfolios.

Regulatory Changes
• In the past year, China has implemented regulatory measures to enhance transparency and security in the gift card sector. These regulations address fees, expiration dates, and usage terms to protect consumers and ensure fair competition among providers. The government has also issued guidelines to prevent fraudulent activities associated with gift cards, emphasizing the importance of consumer education and robust security measures.

Scope

This report provides in-depth, data-centric analysis of gift card industry in China through 100+ tables and 280+ charts. Below is a summary of key market segments:

China Total Spend on Gifts
• By Consumer Segment (Retail and Corporate)
• By Product Categories (13 Segments)
• By Retail Sectors (7 Segments)

China Gift Card Market Size by KPIs across Consumer Segments
• Gross Load Value
• Transaction Value
• Unused Value
• Average Value Per Transaction
• Transaction Volume
• Average Value of Card Purchased
• Number of Cards

China Gift Card Market Size by Consumer Segment
• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

China Digital Gift Card Market Size
• By Retail Consumer
• By Retail Purchase Occasion
• By Corporate Consumer
• By Corporate Purchase Occasion
• By Company Size

China Gift Card Market Size by Retail Consumer
• By Functional Attribute
• By Occasion
1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. Other
• Value by Purchase Channel

China Gift Card Spend by Consumer Behavior and Demographics
• Gift Card Spend by Payment Method
• Consumer Purchase Behaviour
• Gift Card Buyer by Age Group
• Gift Card Buyer by Income Level
• Gift Card Buyer by Gender

China Gift Card Market Size by Corporate Consumer
• By Functional Attribute
• By Occasion
1. Employee Incentive
2. Sales Incentive
3. Consumer Incentive
• By Scale of Business

China Gift Spend by Product Categories (Split by Retail and Corporate Consumers)
• Food & Beverage
• Health, Wellness & Beauty
• Apparel, Footwear & Accessories
• Books & Media Products
• Consumer Electronics
• Restaurants & Bars
• Toys, Kids, and Babies
• Jewelry
• Sporting Goods
• Home & Kitchen Accessories & Appliances
• Travel
• Entertainment & Gaming
• Other

China Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)
• Ecommerce & Department Stores
• Restaurants & Bars
• Supermarket, Hypermarket, Convenience Store
• Entertainment & Gaming
• Specialty Stores
• Health & Wellness
• Travel

China Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)
• Gift Card Online Sales
• Gift Card Offline Sales
• 1st Party Sales
• 3rd Party Sales
• Sales Uplift

China Gift Card Purchase by Payment Method
• Credit Card
• Debit Card
• Bank Transfer
• Prepaid Card
• Digital & Mobile Wallet
• BNPL & Other Digital Payment
• Cash

China Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
JD.Com
Alibaba (China inc. all brands)
Vip.com
Yonghui Superstores Group
RT Mart
Unimart
Amazon
Samsung
Belle (All brands)
Wumart Superstore

Reasons to buy
• Comprehensive comprehension of the dynamics of the gift card and incentive card markets: Recognise the opportunities in the market, the main drivers and trends, and the five-year projection for gift and incentive cards in China.
• Create strategies tailored to the market: To create your gift card strategy, identify growth categories and target particular opportunities across consumer segments and occasions; evaluate important trends and risks unique to your market.
• Learn about the attitudes and behaviours of consumers in China: Increase ROI by understanding how consumer attitudes and behaviours are evolving. With gift cards, you may obtain comprehensive information about retail spending for both corporate and retail customers.
• Six key performance indicators (KPIs) provide a comprehensive view: the quantity of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
• Distribution channel insights: Recognise the differences in gift card sales across online and offline channels as well as between first-party and third-party sales.