Global Gift Cards Market Predicted to Register $1,396.01 Billion in Revenue and Rise at a Noteworthy CAGR of 15.4% during the 2021-2028 Timeframe [193-Pages]

New York, USA, March 22, 2023 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the global gift cards market is envisioned to generate a revenue of £1,396.01 billion and grow at a stunning CAGR of 15.4% over the analysis timeframe from 2021 to 2028.  As per our analysts, the rising penetration of smartphones provides more flexible and convenient payment options to consumers all across the globe which is expected to amplify the growth of the gift cards market during the forecast period. Besides, the growing demand for improved products and technological improvements associated with payment solutions is predicted to bolster the growth of the market throughout the analysis timeframe.

Moreover, the rapid expansion in e-commerce and the rising technological advancements in gift cards to increase the sales of organizations are predicted to create excellent growth opportunities for the market over the estimated period. However, the lack of security for gift cards may impede the growth of the market throughout the analysis timeframe.    Download a Comprehensive PDF Sample of Gift Cards Market 

Segments of the Gift Cards Market  The report has divided the market into segments based on type, sales channel, end-use, and region.  Type: Open Loop Sub-Segment to be Most Productive 

The open loop sub-segment is expected to garner a revenue of £724.93 billion during the forecast period. This is mainly due to the increasing popularity of open loop gift cards as they allow recipients to shop at different locations. In addition, the increased security offered by open loop gift cards is further expected to increase the growth of the market sub-segment over the estimated timeframe.   

Sales Channel: Online Sales Channel Sub-segment to be Most Profitable  The online sales channel sub-segment is projected to generate £706.05 billion during the analysis timeframe. The increasing use of online gift cards across various industries, such as food and beverage, retail, consumer electronics, and many more to promote brand recognition, attract new clients, and reduce fraud is expected to fuel the growth of the gift cards market sub-segment over the forecast period. 

End-Use: Retail Sub-Segment to be Most Beneficial  The retail sub-segment is expected to garner a revenue of £876.72 billion over the estimated timeframe. The increasing acceptance of gift cards across the retail sector due to the rising penetration of supermarkets/hypermarkets and other food and restaurant chains is expected to boost the growth of the market sub-segment throughout the forecast period. 

Schedule a call to the Expert Analyst to get the Latest update on the Gift Cards Market  North America Region to Hold the Maximum Share of the Market   The North America region of the gift cards market is predicted to register a revenue of £604.47 billion during the analysis timeframe.

The increasing use of gift cards by consumers of this region for various purposes, such as Christmas presents, and gifts for popular occasions like baby showers, birthdays, graduation parties, and many more are expected to thrive the regional growth of the market over the estimated period.  Covid-19 Impact on the Gift Cards Market    The outbreak of the Covid-19 pandemic has caused disastrous impacts on economies worldwide.

It has resulted in travel restrictions, created disturbances in financial markets, and badly impacted supply chains and production levels. The gift cards market is adversely affected by the rise of the pandemic. This is mainly because the demand for physical gift cards decreased due to the closure of stores across several countries during the period of crisis.

Moreover, the introduction of e-cards took a long time to be effective, further declining the market growth throughout the pandemic.    Prominent Market Players   The major players of the gift cards market include  

  • Blackhawk Network Holdings, Inc. 
  • Qwikcilver Solutions Pvt Ltd 
  • InComm Payments 
  • Best Buy Company, Inc. 
  • Target Corporation 
  • Apple Inc. 
  • Starbucks Corporation 
  • American Express Company 
  • Walmart Inc. 
  • couponmatrix.uk, Inc. 

These players are mainly working on the development of new business strategies, such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry. 

For instance, in December 2022, Blackhawk Network, an American privately held company that operates in the prepaid, gift card, and payments industries announced its partnership with IKEA, a leading provider of home furnishings solutions. With this partnership, the companies aimed to expand their gift card portfolio by connecting around 300 million consumers per day across all channels. In addition, this partnership would empower the purchase of gift cards across the entire US market.   

Further, the report also summarizes other important aspects including SWOT analysis, product portfolio, the financial performance of the key players, and the latest strategic development. 

Triangulate date as per your Format and Definition of Gift Cards Market 

More about Gift Cards Market: 

Tags:

ambassador-theatre-group-atg listed on couponmatrix.ukcookhouse-and-pub listed on couponmatrix.ukmisspap listed on couponmatrix.ukpondkeeper listed on couponmatrix.ukstradivarius listed on couponmatrix.ukyoung-british-designers listed on couponmatrix.uk
ambassador-theatre-group-atg listed on couponmatrix.ukBook your tickets to some of the biggest and best West End shows, live comedy events, musicals and pantomimes with ATG Tickets, one of the UK’s biggest and best ticket distributors. With an ATG promo code from us, you can access any of ATG ’s 40+ venues around the world for a night you’ll never forget. ATG is your go-to for fun for the whole family - with specialised shows and on-hand assistance to ensure accessibility is never an issue, it's the best booking partner in the business for all of your entertainment needs.
cookhouse-and-pub listed on couponmatrix.ukDine, drink and enjoy many an evening at your local Cookhouse & Pub, the family-friendly tavern that puts that little extra into every order. Keeping customers fed and merry from morning to night, any visitor will find themselves satisfied whilst saving with any of our phenomenal Cookhouse vouchers. So the next time Friday night rolls along and it’s time for a round with colleagues or an evening meal with the folks, check in at your nearest Cookhouse & Pub.
misspap listed on couponmatrix.ukA UK-based brand with a mission to serve women with style, Misspap provides fresh, fun clothing and accessories to the fashionistas who do things their own way. Snap up a Misspap discount code from us to score savings on statement pieces, and shop sexy yet feminine in-house collections you won’t find anywhere else! Global delivery and free returns keep the aspirational Misspap army trending 24/7. For stylish pieces that suit a high-octane lifestyle, why shop anywhere else?
pondkeeper listed on couponmatrix.ukThere’s nothing quite like a water feature in the garden to add a little dose of tranquility to your space. So, create a pond you can be proud of with the expert team at Pondkeeper! Help yourself to a Pondkeeper discount code to treat yourself to the best quality products from the UK’s leading pond specialists, and stock up on pond liners, pumps, filters and more for a fraction of the regular price!
stradivarius listed on couponmatrix.ukWith roots in Spain, Stradivarius certainly has its own unique style and authenticity. Upholding a passion for fresh trends, there's an energy and vibrancy throughout the whole Stradivarius catalogue. Check our Stradivarius discount codes to save money on clothing, shoes and accessories and nurture your own unique sense of style. When fashion is your lifestyle, you need a brand that will keep up with your personality too so rest assured that with Stradivarius, you've met your match.
young-british-designers listed on couponmatrix.ukIf you're looking for a stylish and modern take on fashion, then you'll love Young British Designers. This popular brand offers a range of clothing and accessories that are perfect for any trendsetter. With a wide range of styles, accessories and shoes, you’re guaranteed to find something for everyone! And, with a Young British Designers discount, you can get even more savings on your purchase. So why not shop today and discover great styles at Young British Designers? Here at Groupon, we work hard to find the best Young British Designers discount codes and deals so you can save on your purchase. We know that fashion can be expensive, so we want to help you stretch your budget a little bit further. With our Young British Designers discount codes, you can get great savings on a wide range of clothing, shoes and accessories. Take advantage of our deals today and start shopping for your new wardrobe! One of our top-performing Young British Designers products is the dresses. With a wide range of styles, colours and patterns, you can find the perfect dress for any occasion! So if you're looking for some stylish and unique clothing, then this is the perfect brand for you. With our Young British Designers discount code, you can save some money off of your purchases, so make sure to check our page before buying!