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Recent Trends in Gift Cards Market With Size and Growth Analysis 2021

recent trends in gift cards market with size and growth analysis 2021

Recent Trends in Gif

iCrowdNewswire   Feb 2, 2021  3:00 AM ET

Gift Cards

The global gift cards market is expected to hit US$ 750 Bn by 2026.

Market Insights 

A Gift Card is a prepaid debit card that contains a specific amount of money available for a variety of purchases. Gift Cards are generally provided in vouchers or coupons by organizations, special stores, restaurants, only for purchases at the retail premises in force. They cannot be enclosed and may, in certain situations, be subject to an expiry date or to fees.

Gift Cards can be tailored to the needs of users and are attached with a custom message or a name on the front of the cardboard. They act as a personal gift or incentive to the recipient and can be presented as an award for appreciation to employees.

Gift Cards have transpired as an effective way to wish loved ones a different time or to appreciate someone’s work. It enables the recipient to make the purchase of their choice. Gift Cards are prepaid payment cards that contain a specific amount of money and an expiry date.

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Gift cards have emerged as an effective way to wish someone a merry-go-round or to thank someone for their work. It makes it easier for the recipient to make purchases of their choice. Gift Cards are prepaid payment cards that contain a specific amount of money and play the same role as paper gift cards. Earlier, the use of gift cards was mostly limited to North America and Europe. However, with increasing consumer awareness, its use has grown beyond its traditional markets and is now popular in regions such as Asia Pacific and Latin America. Countries like China and India have witnessed a boom in the gift card market in recent years due to increasing consumer awareness and purchase options. Starbucks was one of the major brands that revolutionized the concept of gift cards in the U.S. and has grown in popularity over the years.

One of the most important factors contributing to the growth of the market is the increasing demand for gift cards in the corporate sector. In recognition of the employee’s contribution to the firm, corporate houses are presenting gift cards. This trend has become widespread in recent times and has therefore had a positive impact on market growth. Another important factor contributing to the growth of the market is the advent of e-commerce. E-commerce websites such as Amazon, Alibaba, eBay and Flipkart, among others, offer gift cards to customers. With the increasing penetration of the internet and smartphones, people are in a better position to access e-commerce portals than ever before, a factor that complements the growth of the market for gift cards. Moreover, the fact that giving cash as a gift is considered socially inappropriate further enhances the growth of the gift card market. Moreover, as gift cards enable the recipient to purchase any product of his/her choice, the acceptance of the card increases by the day.

The global Gift cards market report also covers import and export analysis on regional level. The global Gift cards market includes most updated insights including COVID 19 impact analysis. The report covers comparative analysis of global Gift cards market on the basis of pre and post COVID 19 scenarios.

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In recent years, there has been growing consumer confidence and trust in mobile retail and payment applications for gift cards. In addition, traceable gift cards have become popular in the recent past, allowing traders to acquire a range of important data. Virtual gift cards have also become popular in recent years due to their low cost compared to plastic gift cards. In addition, rechargeable gift cards are expected to provide significant growth opportunities for the gift card market to thrive further.

This trend has also been noted by retailers and wholesalers as a new opportunity, with evidence of digital gift certificates having increased significantly in the past three years. Approximately 65 percent of consumers are now purchasing digital gift cards without any advertising, which is 33 percent higher than last year’s figures. The key here is the rapidly expanding mobile advantage of gift cards as well as other creative tools in the field of e-commerce, which have helped to strengthen the appeal of digital gift cards to consumers.

Due to the rapid growth of the virtual gift certificate industry, online stores are striving to equip themselves with tools to provide their shoppers with the best service for gift voucher products. 82% of small to medium-sized e-commerce businesses using retail electronic gift vouchers have experienced increased sales. However, without tools or extensions, online stores will struggle to provide customers with the best purchasing experience.

Key Trends

  • Open loop gift cards growing in popularity.
  • Issuers of gift cards are focusing on expansion of their participating merchant network
  • Growing trend of traceable gift cards
  • Mobile apps increasingly being used to store gift cards
  • E-gifting gaining in prominence
  • Gift cards emerging as a popular gifting option for festive occasions and birthdays

Key questions answered in this report

  • What was the global market size in 2017 and forecast for 2026?
  • COVID 19 impact analysis on global Gift cards industry
  • What are the current market trends in the gift cards market and valuable opportunities for the players?
  • Which are the bestselling gift cards?
  • Which region expected to be the fastest growing?
  • How much will e-gifting constitute of the overall market at the end of the forecast period?
  • What are the key strategies adopted by the leading players in market?
  • What are the various purchase behaviors of customers?
  • What are the most important occasions driving the sales of gift card?

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Table of content: 

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Gift Cards Market
2.2 Global Gift Cards Market, By Type
2.3 Global Gift Cards Market, By Merchant Type
2.4 Global Gift Cards Market, By Geography

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Gift Cards Market Value and Growth, 2016 – 2026, (US$ Bn) (Y-o-Y %)
3.2 Market Drivers
3.3 Market Growth Inhibitors
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition
3.6 Competitive Analysis
3.6.1 Market Positioning of Key Vendors
3.6.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Gift Cards Market Analysis, By Type, 2016 – 2026
4.1 Market Analysis
4.2 Open Loop Gift Cards
4.3 Closed Loop Gift Cards
4.4 E-gifting

Chapter 5 Global Gift Cards Market Analysis, By Merchant Type, 2016 – 2026
5.1 Market Analysis
5.2 Department Stores
5.3 Restaurants
5.4 Food Supermarkets
5.5 Coffee Shops
5.6 Discount Stores
5.7 Entertainment
5.8 Hotels

Chapter 6 North America Gift Cards Market Analysis, 2016 – 2026
6.1 Overview
6.2 North America Gift Cards Market Analysis, By Type, 2016 – 2026
6.2.1 Market Analysis
6.3 North America Gift Cards Market Analysis, By Merchant Type, 2016 – 2026
6.3.1 Market Analysis
6.4 North America Gift Cards Market Analysis, By Region, 2016 – 2026
6.4.1 U.S.
6.4.2 Canada

Chapter 7 Europe Gift Cards Market Analysis, 2016 – 2026
………..

Chapter 8 Asia Pacific Gift Cards Market Analysis, 2016 – 2026
…………

Chapter 9 Rest of the World (RoW) Gift Cards Market Analysis, 2016 – 2026
………….

Chapter 10 Company Profiles
…………….

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Contact Information:

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Keywords:    Gift Cards Market, Gift Cards Market Size, Gift Cards Market Share, Gift Cards Market Trends, Gift Cards Market Growth, Gift Cards Market Outlook, Gift Cards Market Forecast Report