Global Gift Cards Market Size is estimated to be valued at US$ 865.7 Billion in 2022– and is expected to register a CAGR of above 14.0% between 2021 and 2030. Gift cards market is expected to surpass 1 Tn market by end of 2024, primarily due to factors such as macroeconomic changes such as rise in disposable income and higher out of pocket spending
Gift Cards Competition Landscape
The top nine players in the gift cards market are 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. These players are currently focusing on collaborations and new product development.
Over the last few years, there has been significant shift in business models of gift card industry. This could be inferred from the fact that digital e-cards has grown from 2.7% market share in 2009 to 25.04% in 2020. As a result, engaged players are focused on product innovations along with long term engagement with merchants for stable business growth. Another key focus area of gift card provider is the B2B segment.
Key Trends and Factors Driving gift cards System Market
- Global Economic Crisis Coupled with Increasing Promotional Business Activities: The pandemic situation with complete shutdowns across the globe has led to the global economic crisis with increased competitions among industry players across multiple industries. With the unlocking trend the business organizations are taking to various promotional strategies like providing gift cards, for market revival and keeping themselves afloat. The gift card players can gain vastly from this situation over the time frame.
Gift Cards Market Analysis, By Segments
- On the basis of card type, global gift cards market is segmented into e-gift cards, physical cards. Physical gift cards is estimated to account for largest share in 2022.
- By function type, the global gift card market is segmented into closed loop, and open loop
- By price range, the market is segmented into low (US$ 0-200), medium (US$ 200-500), and high (above US$ 500)
- By merchant type, the gift cards market is bifurcated into coffee shops, entertainments, hospitality, book stores, restaurants, department stores, grocery stores, supermarkets/hypermarkets, discount stores, home décor stores, gas stations, e-commerce, visa/master/american express, and others. Supermarkets/hypermarkets segment is expected to dominate to global gift cards market in 2022.
- By end-user, the market is segmented into retail establishment, and corporate institution. In terms of highest growth, corporate institution segment is expected to register highest CAGR during the forecast period.
Gift Cards Market Analysis, By Region
North America dominated the global gift cards market, with an estimated 30.2% revenue share in 2022. The region is expected to lose market share to Asia Pacific and Western Europe. While North America dominated the global share, Asia Pacific is expected to register fastest CAGR of 19.8% during the forecast period. The region will generate over 6.1 X higher revenue opportunity between 2021 and 2030.
In Asia Pacific, China will continue to dominate the gift cards market share during the forecast period. China gift cards market is estimated to be valued at US$ 79.5 Billion in 2022.
In Western Europe, physical gift cards dominated the total sales. Majority of the sales was witnessed in Germany.
Leading Gift Cards Market Players
Some of the key companies covered in the report are:
- com Inc.
- American Express Company
- Blackhawk Network Holdings Inc.
- Fiserv Inc.
- Givex Corporation,
- InComm Payments
- PayPal Inc.
- Paytronix Systems Inc.
- Qwikcilver Solutions Pvt Ltd.
What Will You Discover in the Report?
- An in-depth analysis of the gift cards market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the gift cards market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the gift cards market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the gift cards industry during the forecast period
- Who are the gift cards industry leaders and what are the key initiatives taken by them for long term growth
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