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:

beerwulf listed on couponmatrix.ukdr-martens listed on couponmatrix.ukflexicover-insurance listed on couponmatrix.ukfullers listed on couponmatrix.ukmillets listed on couponmatrix.uksimply-supplements listed on couponmatrix.uk
beerwulf listed on couponmatrix.ukAs much as we all love a trip to the local pub, sometimes creating that cosy experience from the comfort of your own home is even better! Thanks to your exclusive Beerwulf discount code, you can discover a whole new world of different flavours, styles and brands of beer online for much less than a night out. With over 600 beers from 150+ craft brewers in over 20 countries, beer has never been more fun, more convenient, or better value.
dr-martens listed on couponmatrix.ukDr. Martens has long been associated with rebels and misfits: a heritage that’s recognisable in every yellow stitch. Since the first pair of air-cushioned 1460s, Dr. Martens has become a counterculture symbol, innovative and effortlessly cool. These boots were made for walking, but they’re also made for fearless expression. Whatever your style, all you need is a Dr. Martens discount code to give your work wardrobe an edge with the Dr. Martens 1461 Oxford shoes or tower over your enemies in some Dr. Martens platforms.
flexicover-insurance listed on couponmatrix.ukFlexicover are the UK's Number One direct travel insurance retailer, making them the first name that comes to mind for millions of satisfied customers. Whether you're travelling for business or pleasure they have access to the best deals on the market with minimal overheads and economies of scale that combine to give you enormous savings. Use the Flexicover Discount Code and you're guaranteed to benefit from complete peace of mind at an exceptional price, freeing up cash to spend on gourmet restaurants, spa experiences and other travel luxuries you'd never normally be able to afford.
fullers listed on couponmatrix.ukOperating over 300 pubs in the hearty south of England, Fuller’s has long built a reputation as the place to be on a sunny summer Saturday. The perfect way to indulge in a weekend celebration with friends, customers can freely use some Fuller’s vouchers to kick back a round or three for far less. Round up your trip to your local Fuller’s establishment with a look overt their fresh selection of seafood and meat to ensure you leave with your thirst slaked and your hunger satisfied.
millets listed on couponmatrix.ukFor over a century, Millets has been synonymous with outdoor wear, starting life in 1893 when J.M Millet opened stores in Southampton and Bristol. Today Millets has 97 stores nationwide and is still regarded as one of the best destinations on the high street for camping and outdoor adventure gear. Pick up a Millets discount code and save a pretty penny on everything you need for your next expedition!
simply-supplements listed on couponmatrix.ukDo you feel run down, or don’t think that you’re operating at 100%? Modern lifestyles and lack of nutrition from our diets can lead to deficiencies, and when we become deficient in things it can affect our health and our mood. This is where Simply Supplements steps in. Offering a massive range of vitamins and food supplements, they can help redress the balance in our bodies and create perfect equilibrium. Grab a Simply Supplements discount code to save when you stock up! Whether you’re looking for some fish oil, collagen powder, garlic extract or horny goat weed, Simply Supplements has it all.