Gift Card Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Key Market Dynamics:

Changing Consumer-Purchasing Habits Drive Growth:

• The gift card industry is expected to flourish due to the rapid evolution of consumer-purchasing habits.
• The use of gift cards for employee rewards and recognition in the commercial sector is anticipated to surge, further stimulating market expansion.
• The rising popularity of e-gifting is also expected to contribute significantly to industry growth.

E-Gifting's Commercial Potential:

• E-gift cards, including digital cards, virtual cards, and mobile gift cards, have gained prominence, surpassing physical cards in popularity.
• Virtual cards offer operational and usage flexibility, with the convenience of direct delivery to recipients through email or SMS.
• The adoption of online payment systems has further fueled the acceptance of virtual gift cards, accelerated by the COVID-19 pandemic and remote work practices.

Gift Cards as a Marketing Tool:

• Gift cards have emerged as a powerful marketing tool, utilized by brand owners and retailers to enhance customer loyalty programs and increase customer engagement.
• Offering a well-balanced mix of rewards appeals to a wide range of demographics and income levels, boosting gift card adoption.

B2B Sales Revolution:

• Many businesses, both large and small, are focusing on employee engagement through gift card rewards, driving market growth.
• Multinational corporations are actively incentivizing employees to achieve higher goals, a trend expected to fuel growth in the coming years.

Strategic Alliances Enhance Market Penetration:

• Market players are actively seeking to expand their regional presence through partnerships, acquisitions, and collaborations.
• These strategic initiatives, such as Blackhawk Network's acquisition of NGC (National Gift Card), are reshaping market trends and competition dynamics.

Country-wise Insights:

U.S. Promotes E-Gifting with Non-Cash Incentives:

• The use of digital technology in the United States has propelled the growth of e-gifting.
• Commercial sector organizations in the U.S. are increasingly employing non-cash incentives like gift cards to recognize and reward key workers, suppliers, and partners.
• The widespread incentive culture in the United States creates opportunities for regional expansion.

Customization Drives Gift Card Use in the U.K.:

• Customization of gift cards is highly valued by customers in the U.K., enhancing the appeal of gift cards as a gifting and reward option.
• Players in the U.K. are offering bespoke and personalized gift card solutions to meet expanding business and personal needs.
• Market participants, including Amazon.com, Inc., provide options for customization in terms of amount, style, pattern, and corporate branding.

Changing Millennial Preference Boosts Indian Gift Card Sales:

• In India, millennials are shifting from physical gifts to gift cards due to their preference for simplicity and practicality.
• The market in India is expected to witness substantial growth as millennials seek straightforward and convenient gifting options.

Brazil's Retail Sector Fuels Gift Card Sales:

• Brazil's growing retail industry is expected to play a pivotal role in the regional expansion of gift card usage.
• The country's expanding penetration of supermarkets, hypermarkets, and gift retailing chains is expected to drive gift card sales.

Competition Landscape:

Key Companies Profiled:

• Amazon.com, Inc.
• Best Buy Company, Inc.
• Starbucks Corporation
• Target Corporation
• Walmart Stores
• QwickSilver Solutions
• National Gift Card Corporation
• InComm
• Gyft
• Edge Loyalty Systems Pty. Ltd.
• Blackhawk Network holdings, Inc.
• Edenred Group
• The Up Group
• Others

Key Segments Covered in Gift Card Industry Research

Merchant Type

• Restaurants
• Department Stores
• Grocery Stores
• Supermarkets/Hypermarkets
• Discount Stores
• Coffee Shops
• Entertainments
• Salons/Spa
• Book Store
• Home Décor Stores
• Gas Stations
• Visa/Master Card/American Express Gift Card
• Others

Type

• Universal Accepted Open Loop
• Restaurant Closed Loop
• Retail Closed Loop
• Miscellaneous Closed Loop
• E-Gifting

End-User

• Business
• Small and Medium Enterprises
• Large Enterprises
• Individuals

Price Range

• High (Above 400 US$)
• Medium (200-400 US$)
• Low (0-200 US$)

Sales Channel

• Online
• Offline

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Middle East and Africa (MEA)
• Oceania