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Gift Cards Market Analysis, Share, Industry & Revenue [2031]

Global Gift Cards Market

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Segments - by Types (Closed Loop Cards and Open Loop Cards), End-users (Retail Establishments and Corporate Institutions), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2023-2031

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Swarup Sahu

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Report Description

Global Gift Cards Market Outlook 2031

The global gift cards market size was valued at USD 835.2 Billion in 2022 and is anticipated to reach USD 3.62 Trillion by 2031 expand at substantial CAGR 17.7% during the forecast period, between 2023 to 2031. Gift cards are vouchers or certificates that are issued by retailers or banks to promote businesses, attract consumers, and most importantly to create brand image.

These gift vouchers are available at retailers where customers can purchase them at a certain price and can gift them further. The receivers of the gift cards can then come back to the store and shop for their desired products and pay using the card of the stipulated amount. Gift cards are usually worth a certain price and allow users to shop till the specified price limit.

This facilitates a cashless transaction and eliminates the use of cash. These gift cards have emerged as an alternative source for money and lead to good brand image of the retailer.

Gift Cards Market Trends, Drivers, Restraints, and Opportunities

The connection of consumers with brands, shopping, and rapid industrial are major drivers of the gift card market.
Consumers are brand conscious, which has resulted in major sales of specific brands, which has further fuelled the gift cards market.
Innovative and seamless payment options and the availability of gifting cards to their loved ones, instead of a product bought from a store significantly fuel the market, as it gives the gift card users a variety of choices.
Privacy concerns regarding consumer data and secure payment restrain the market.
Technological advancements of and preferences for cashless payments and gift options are expected to create opportunities in the market in the coming years.

Scope of Gift Cards Market Report

The report on the global gift cards market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Report Title	Gift Cards Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast
Base Year	2022
Historic Data	2016 - 2021
Forecast Period	2023–2031
Segmentation	Types (Closed Loop Cards and Open Loop Cards), End-Users (Retail Establishments and Corporate Institutions)
Regional Scope	Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Report Coverage	Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Key Players Covered in the Report	Amazon.com Inc.; American Express Company; FiservInc.; Givex Corporation; InComm Payments; PayPalInc.; Paytronix SystemsInc.; Blackhawk Network HoldingsInc.; Givex Corporation; and Walmart Inc

Gift Cards Market Segment Insights

Availability of free activation for users drives the closed loop cards segment

Based on types, the gift cards market can be bifurcated into closed loop cards and open loop cards. The closed loop cards segment dominated the market in 2019 due to the free activation of users and the benefits it offers corporate institutions. A closed loop card is a card that facilitates electronic payment from one single company.

These cards were integrated in the market as a marketing strategy by brands and to encourage people to shop for their products only, as they can be redeemed by merchants who are listed on the card. These cards have a certain amount and can be activated anytime. Users do not need to put any amount in the card, as these are issued by particular retailers for their brand.

Open loop gift cards are cards that are accepted in retailers shop that accept the card type. American Express, MasterCard, and Visa are such types of cards. Open loop gift cards run on various credit cards systems. The closed loop cards are extensively used due to the brand image building, strong marketing techniques by key players, and the preference of consumers to buy from a brand of their choice.

Retail establishments segment to hold a significant market share

Based on end-users, the gift cards market can be divided into retail establishments and corporate institutions. Retail institutions dominate the market due to strong marketing strategies and image building techniques by retailers to attract users to purchase their gift cards. Technological advancements and the ease of use of smartphones further drive the retail segment.

Gift cards issued by retailers are easy to use and facilitate cashless transactions and give the users a variety of choices. This ensures advertising and further boosts market sales.

North America dominates the market

In terms of regions, the global gift cards market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market due to the increase in the demand for advanced products and technological advancements in the region.

The market in Asia Pacific is growing rapidly due to the rise in disposable income in the developing countries such as India, Japan, and China. Additionally, rise in internet penetration and increase in use of smart phones and digital wallets drive the market in the region.

Segments

By Types

Closed Loop Cards
Open Loop Cards

By End-Users

Retail Establishments
Corporate Institutions

By Regions

North America
Europe
Latin America
Asia Pacific
Middle East & Africa

By Key Players

Amazon.com Inc.
American Express Company
FiservInc.
Givex Corporation
InComm Payments
PayPalInc.
Paytronix SystemsInc.
Blackhawk Network HoldingsInc.
Givex Corporation
Walmart Inc

Competitive Landscape

Key players in the global gift cards market include Amazon.com Inc.; American Express Company; FiservInc.; Givex Corporation; InComm Payments; PayPalInc.; Paytronix SystemsInc.; Blackhawk Network HoldingsInc.; Givex Corporation; and Walmart Inc. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and increase their market share.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Gift Cards Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Gift Cards Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Gift Cards Market - Supply Chain
  4.5. Global Gift Cards Market Forecast
     4.5.1. Gift Cards Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Gift Cards Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Gift Cards Market Absolute $ Opportunity
5. Global Gift Cards Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Gift Cards Market Size and Volume Forecast by Types
     5.3.1. Closed Loop Cards
     5.3.2. Open Loop Cards
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Gift Cards Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Gift Cards Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Gift Cards Demand Share Forecast, 2019-2026
7. North America Gift Cards Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Gift Cards Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Gift Cards Market Size and Volume Forecast by Types
     7.4.1. Closed Loop Cards
     7.4.2. Open Loop Cards
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Gift Cards Demand Share Forecast, 2019-2026
8. Latin America Gift Cards Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Gift Cards Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Gift Cards Market Size and Volume Forecast by Types
     8.4.1. Closed Loop Cards
     8.4.2. Open Loop Cards
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Gift Cards Demand Share Forecast, 2019-2026
9. Europe Gift Cards Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Gift Cards Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Gift Cards Market Size and Volume Forecast by Types
     9.4.1. Closed Loop Cards
     9.4.2. Open Loop Cards
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Gift Cards Demand Share Forecast, 2019-2026
10. Asia Pacific Gift Cards Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Gift Cards Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Gift Cards Market Size and Volume Forecast by Types
     10.4.1. Closed Loop Cards
     10.4.2. Open Loop Cards
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Gift Cards Demand Share Forecast, 2019-2026
11. Middle East & Africa Gift Cards Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Gift Cards Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Gift Cards Market Size and Volume Forecast by Types
     11.4.1. Closed Loop Cards
     11.4.2. Open Loop Cards
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Gift Cards Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Gift Cards Market: Market Share Analysis
  12.2. Gift Cards Distributors and Customers
  12.3. Gift Cards Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Amazon.com Inc.
     12.4.2. American Express Company
     12.4.3. FiservInc.
     12.4.4. Givex Corporation
     12.4.5. InComm Payments
     12.4.6. PayPalInc.
     12.4.7. Paytronix SystemsInc.
     12.4.8. Blackhawk Netwo

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