A comprehensive Gift Card Market business research report assists clients in comprehending the various drivers and restraints that impact the market throughout the forecast period. The report encompasses analysis and estimation of significant industry trends, market size, and market share. It serves as a strong incentive for businesses to explore new ventures and improve their operations. Businesses heavily rely on the diverse segments included in the market analysis report, providing them with valuable insights to guide their endeavors in the right direction. The data presented in the top-notch Gift Card Market document undergoes scrutiny and validation by market experts for the benefit of readers and end-users.
The superior Gift Card Market research report empowers businesses of all sizes, whether large, medium, or small, to thrive and succeed in the market. The inclusion of competitive intelligence is a crucial aspect that helps businesses excel in the market. The transparent, consistent, and extensive market information in this industry analysis report is poised to enhance business development and boost return on investment (ROI). The features and parameters covered in this report contribute to steering the business toward growth and success. The Gift Card Market report diligently studies and evaluates market drivers, restraints, challenges, opportunities, and key developments in the market.
Explore Further Details about This Research Gift Card Market Report
https://www.databridgemarketresearch.com/reports/global-gift-card-market
The global gift card market is being driven by the use of gift cards as a business tactic, which is expected to drive market growth. Moreover, the extensive social trend of giving online gifts is potentially expected to boost the market growth. However, exploitative gift card practices such as redemption and latency fees are expected to restrain the market growth.
Data Bridge Market Research analyzes that the gift card market is expected to reach the value of USD 2,632,843.72 million by 2030, at a CAGR of 14.2% during the forecast period.
| REPORT METRIC | DETAILS |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Year | 2021 (Customizable to 2015 - 2020) |
| Quantitative Units | Revenue in USD Million |
| Segments Covered | Product (E-Gift Cards and Physical Cards), Functional Attribute (Closed Loop, Universal Accepted Open Loop, and E-Gifting), Industry Vertical (Retail and Corporate Institutions), Merchant (Restaurants, Discount Stores, Coffee Shops, Departmental Store, Grocery Store/Food Supermarkets, Entertainment, and Others) |
| Countries Covered | U.S., Canada, Mexico, Germany, Russia, France, U.K., Turkey, Italy, Spain, Poland, Netherlands, Belgium, Switzerland, Sweden, and Rest of Europe, China, India, South-East Asia, Japan, Australia, New Zealand, South Korea, Rest of Asia-Pacific, Indonesia, Philippines, Thailand, Vietnam, Malaysia, Singapore, Cambodia, Myanmar, and Rest of South-East Asia, Saudi Arabia, Iran, Egypt, South Africa, U.A.E., Iraq, Israel, Qatar, Kuwait, Jordan, and Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America |
| Market Players Covered | Walmart Inc., Under Armour, Inc., Givex Corporation, American Express, Target Brands, Inc., Best Buy, Starbucks Coffee Company, PayPal Holdings, Inc., Apple Inc., Sephora USA, Inc., Gyft, Inc., Walgreen Co., TransGate Solutions, AMILON S.R.L., Jigsaw Business Solutions, Diggecard, Pine Labs Private Limited, Alltimeprint.com, Plastek Card Solutions, Inc., Card USA, Inc., Duracard, Blackhawk Network, Tango Card. Inc, Stockpile, Inc., and Huuray A/S |
Market Definition
A gift card is an artificial prepaid debit card that is loaded with a specific amount. It is used for various purposes, such as gifting someone and purchasing things. Most consumers, including millennials and the older generation, have a rising demand for gift cards due to their ease of use and the increasing adoption of smartphone payment technologies. The growing social trends of online gift-giving and rising demand from millennials are expected to drive market growth.
Global Gift Card Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- The Use of Gift Cards as a Business Tactic is Becoming More Popular
Various companies are becoming more focused on sustainable relationships with consumers so that they can meet their targets. There are a few benefits of gift cards that can be utilized in business strategies, such as they are cost-effective and consumers usually spend on gift cards instead of physical gifts. This is because most individuals have a perception of gift cards amount as free money. So the implementation offers associated with gift cards can actually boost the revenue of a company.
Gift cards also can increase traffic at a particular store and organization. As it invests two persons into the process, one is the sender, who is giving the gift card, and the second is the recipient, who is receiving the gift card. Many times it happens that the gift card got expires, unused, and the whole amount goes to the organization. Therefore, utilizing gift cards as a business strategy is an essential and cost-effective decision, which is expected to drive market growth.
- The Extensive Social Trend of Giving Online Gifts
Along with the economic growth of consumers and the increased awareness of social trends among the population, the situation for the gift card market has been changing. Online gifting has gained popularity due to its convenience and accessibility. With just a few clicks, customers can purchase and send digital gifts to recipients anywhere in the world. This makes gift cards an attractive option for last-minute gifting purposes. The growing trend of online shopping and digital transactions continues to grow the preference for gift cards, which is expected to drive market growth.
Opportunities
- The Growing Internet and Smartphone Penetration Rate Worldwide
The growing popularity of e-commerce enables the user to use gift cards easily and explore more product with easy purchases. One of the most innovative fields of technology in the gift card market is the introduction of smartphone technology. The benefits of e-gift cards using smartphone technology in payment methods enables a wide range of consumer base who can provide growth to the market with enormous opportunities. Continuous launches and announcements in the segment of mobile wallet gift cards and e-gift cards and their increasing trend can lead the gift card market to face extreme growth in the near future. E-Gift cards are considered a good alternative form of payment if any consumer has no cash to pay for a product, as they can be transferred digitally if the recipient lives in longer distance from the sender of the gift cards. Thus, these benefits are creating a preference for e-gift cards, and companies are launching new product, which are expected to provide an opportunity for market growth.
- Strategic Alliances to Increase Company’s Business Penetration
Strategic alliances are a key staple in business strategies to achieve a competitive advantage and abate competitors from moving on a marketplace. A successful strategic alliance is critical to the success of a core business goal and also helps in mitigating a significant risk to the business. Alliances help in providing access to the market with a solution that would not have been possible for any company on its own. With the right alliance, partners can out space the competition with new solutions. This helps in scaling up the production and building innovative solutions for their customers, entering new markets, and pooling valuable expertise and resources, which is expected to provide an opportunity for market growth.
Key Points mentioned in the Gift Card Market report:
What was the market size in 2030?
- What are the moves of key players?
- Which region is leading the market at global Gift Card Market?
- A comprehensive/competitive analysis of the Gift Card Market?
- What the drivers and restrains are for the Gift Card Market?
- How will the market stand in the forecast period of
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