Global Gift Card Market Overview:

A gift card is a prepaid debit card that contains a specific amount of money available for usage for a variety of purchases. Generally, Gift cards are provided in the voucher or coupon by the organizations, particular stores, restaurant, only for buying at the relevant retail premises. They cannot be cashed out, and in some situations, may be subject to an expiry date or fees.

Gift cards can be custom-tailored to satisfy specific wants. By appending custom message or name on the front of the cardboard, it wreaks associate degree personal gift or incentive to associate degree worker to indicate however much they are appreciated.

Global Gift Card Market Forecast and Trends

The global gift card market is anticipated to grow nearly at a CAGR of 13 % to reach US$ Million by 2026. The demand for gift cards is increasing due to the increase in the number of occasions and the rising popularity of the gifting culture. The sales of gift cards increase at a very high rate during festivals and special days, such as Father's Day and Mother's Day. In addition, several organizations recognize their employees' performance and offer incentives in the form of gift cards. Gift cards can be used in restaurants, department stores, grocery stores, supermarkets, specialty stores, and cafes. Increase in the gifting culture during festivals and special occasions such as Father's Day, Friendship Day, Mother's day, etc. driving the growth of the global gift card market. Besides, many organizations offer incentives to their employees in the form of gift cards for their excellent performance.

Gift cards are an integrated payment solution developed to ease the transaction at stores or businesses as a substitute for money. These cards establish a medium that supports smooth and hassle-free purchasing procedures during a variety of events, such as dining, entertainment, retail purchases, and others.

Growth drivers

Increase in the gifting culture

Increase in the gifting culture during festivals and special occasions such as Father's Day, Friendship Day, Mother's day, etc. driving the growth of the global gift card market. Besides, many organizations offer incentives to their employees in the form of gift cards for their excellent performance.

Launch of new products in the gift cards category

Launching of unique products by many vendors to stay ahead in the market. Numerous entertainment corporations are team up with technology solutions providers to launch e-gift cards for content across major online and retail marketplaces.

Restraints

Additional cost involved and use of plastics

The use of gift cards in case of any occasion, festivals, and promotion card result in additional loss of money. Also, the growing concern related to the use of plastics, paper, and fear may hinder the growth of the gift card industry during the forecast horizon.

Global Gift Card Market: Type

Based on type, the Gift Card market segmented into Open Loop Gift Cards, Closed Loop Gift Cards, and E-gifting. Open Loop Gift cards segment is expected to have the highest growth as it can be redeemed anywhere that brand of card is accepted. While the Closed Loop Gift card can be redeemed only at a specific retailer. E-cards are customizable according to the requirement of the customer within a website for special occasions and can be sent through the internet to the customers. The market of E-card is expected to grow at a high rate in the forecast period.

Global Gift Card Market: Merchant Type

Based on Merchant type, the Gift Card market segmented into Food Supermarkets, Department Stores, Restaurants, Coffee Shops, Discount Stores, Entertainment, Hotels, and Others. Corporate sector offer incentives to their employees in the form of gift cards for their excellent performance. Discount Stores are estimated to grow at a very high rate as E-commerce websites like Amazon, Flipkart, etc., are offering gift cards to their customers, to ensure repeated site visits. This is also a prominent factor aiding the market growth of global gift card.

Global Gift Card Market: Regional insights

By geography, the global Gift Card Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. APAC is predicted to have the fastest growth in the global Gift Card market over the forecast horizon. The urbanization, higher per capita income, and demand in the corporate sector in developing countries like China and India are fueling the overall growth of the global Gift Card market. North America is at the immobility stage due to the presence of large numbers of companies in the region.

The objective of the Study:

·         To analyze and forecast the global Gift Card market size of the market, in terms of value.

·       To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Gift Card market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America and their leading countries.

·         To outline, categorized and forecast the global Gift Card market based on the type, and merchant type.

·       To examine competitive developments like technological advancement, services, and regulative framework within the global Gift Card Market.

·   To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

·   To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report

By Type

·         Open Loop Gift Cards

·         Closed Loop Gift Card

·         E-gifting

By Merchant Type

·         Food Supermarkets

·         Department Stores

·         Restaurants

·         Coffee Shops

·         Discount Stores

·         Entertainment

·         Hotels

·         Others

By Region

·         North America

·         Europe

·         Asia Pacific (APAC)

·         Latin America

·         Middle East & Africa

Competitive Landscape

·         Blackhawk Network Holdings Inc.

·         DOCUMAX Inc.

·         Fidelity National Information Services Inc.

·         Givex Corp

·         InComm Holdings Inc.

·         National Gift Card Corp.

·         Plastek Card Solutions, Inc.

·         Qwikcilver Solutions, Pvt. Ltd.

·         Stored Value Solutions, Inc.

·         Duracard

·         Cashstar

·         Staples

·         Walmart

·         Lowe’s

·         Best Buy

·         Sam’s Club

·         Other Prominent Players

Business Questions answer by the report

·         How will the market drivers, restraints and opportunities affect the market dynamics?

·         What will be the market size in terms of value and volume and market statistics with a detailed classification?

·         Which segment dominates the market or region and one will be the fastest growing and why?

·         A comprehensive survey of the competitive landscape and the market participant players

·         Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

·         With five additional company detail analysis

·         Additional country analysis

·         Detailed segment analysis