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:

beefeater-grill listed on couponmatrix.ukgive-me-cosmetics listed on couponmatrix.ukgo-groopie listed on couponmatrix.ukmamas-and-papas listed on couponmatrix.ukscotrail listed on couponmatrix.ukwildwood-kitchen listed on couponmatrix.uk
beefeater-grill listed on couponmatrix.ukFor a meal that will fill your belly and fit your budget, head to Beefeater. With a meat-rich menu you can sink your teeth into, and more than 140 relaxed restaurants dotted across the country, it’s the perfect place to go for your Sunday lunch without spending a fortune. Use your Beefeater vouchers to make feeding the whole family all the more affordable - and don’t forget, with your new-found savings you can splash out on those essential sweets after!
give-me-cosmetics listed on couponmatrix.ukShop natural, cruelty-free beauty for less with Give Me Cosmetics—this skincare and beauty brand has been making waves with its incredible masks, scrubs and treatments for hair, face and body. The brand has a total ban on animal testing too, so you can shop with peace of mind that no furry friends have been harmed in the process. Make the most of a Give Me Cosmetics discount code to cut the cost of your next skin-saving haul—if you’re after a beauty boost, our offers will help you save big!
go-groopie listed on couponmatrix.ukGo Groopie is a website that offers amazing deals on a wide range of products. They have everything from cosmetics to electronics and everything in between. You can save even more money by using a Go Groopie discount code. Expect everything from black velvet beds to crates of Chianti to go under the hammer, so there’ll be plenty of variety when you choose to shop sand save. So what are you waiting for? See how much Go Groopie can save you today! At Groupon, we are always on the lookout for the best deals and discounts so you can save money on your favorite brands. When it comes to Go Groopie, we have a team of experts who scour the internet for the latest and greatest Go Groopie discount codes. This way, you can be sure you are getting the best possible deal, be it on fashion, electricals or travel essentials. One of the best things about Go Groopie is that you can find go Groopie promo codes for a wide range of products. Whether you are looking for new cosmetics item or to delve into arts and crafts, you can be sure to find a great deal. One great catch we can name is the selection of Go Groopie fitness trackers, which can enhance and monitor your exercise for as little as £9.99!
mamas-and-papas listed on couponmatrix.ukWelcoming a fresh face to the family is always a little less daunting with Mamas & Papas, a brand with three decades of experience in creating everything new parents could want or need. From quality clothing to specialised strollers and baby baths, use a Mamas and Papas discount code to pick up every baby essential for less. Whether you’re going to be a new parent or adding another member to your family, every baby starts off in safe hands with Mamas & Papas.
scotrail listed on couponmatrix.ukFrom the medieval architecture and city bustle of Edinburgh to the coastal walks and serenity of Thurso, ScotRail is your key to exploring Scotland on a budget. Book your ScotRail tickets online to take advantage of promo codes and other great offers like 20% off selected hotels and free entry to museums. Railcard-holders will be able to apply a 33% discount to ticket prices, and you’ll also find the odd ScotRail promo code from Groupon to keep transport costs down. Forget driving – trains are simply the best and most affordable way to get around!
wildwood-kitchen listed on couponmatrix.ukFeeling peckish? Pop along to your local Wildwood and enjoy comforting Italian favourites, including classic pizza and pasta dishes, as well as topped salads and tasty risotto delights. Children will adore the kid-friendly menu, and you’ll love the relaxing, atmospheric surroundings. Book your table with one of our Wildwood vouchers and treat the whole family to a feast for less. Whether you’re celebrating an occasion or simply popping in for dinner, Wildwood is guaranteed to satisfy every rumbly tummy.