United States Gift Card and Incentive Card Market Report 2021 - Streaming and Gaming Services Giftcards are Increasingly Being Purchased

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Feb 16, 2021, 07:00 ET

DUBLIN, Feb. 16, 2021 /PRNewswire/ -- The "United States Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Spend Analysis by Digital / e-Gift Card, Retail and Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.

The gift card market in the US is expected to record steady growth over the forecast period, driven by increased adoption of digital or e-gift cards.

The ongoing pandemic has changed consumer behavior in 2020. Online purchases of gift cards more than doubled in 2020, outperforming the YoY growth recorded in 2019. Though online purchase of gift cards has increased in the last few years, the growth has been rapid in 2020 due to the COVID-19. Moreover, gift cards are increasingly being purchased by consumers for digital content including streaming and gaming services.

The open and closed loop gift cards were mostly spent on online shopping in 2020. Among various categories, gift card spending increased especially in electronics and grocery categories. Rise in spending on electronics was due to the work from home trend and rise in spend on home entertainment options such as gaming and online streaming. In 2020, spend on gaming based gift cards rose significantly. Also, consumers purchased nearly twice as many digital streaming cards per quarter than the average in 2020.

The market has seen entry of international players. For instance, Prezzee, an Australian gift card startup, launched its services in the US in November 2020 after white label partnerships with Macy's, UberEats and Spotify. Earlier in August 2020, Prezzee introduced white label gift card program for Afterpay, a buy now, pay later provider, in the US.

According to the publisher's Q4 2020 Global Gift Card Survey, gift card industry in United States is expected to grow by 9.7% on annual basis to reach US$ 170784.8 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in United States remains strong.

The gift card industry in United States is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 8.8% during 2021-2025. The gift card market in the country will increase from US$ 155616.0 million in 2020 to reach US$ 238973.8 million by 2025.

Reasons to Buy

In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2016-2025) for gift cards and incentive cards in United States.
Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
Get insights into consumer attitude and behaviour in United States: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.

Scope

Total Spend on Gifts in United States

By Consumer Segment (Retail and Corporate)
By Product Categories (13 Segments)
By Retail Sectors (7 Segments)

Gift Card Market Size by KPIs across Consumer Segments in United States

Gross Load Value
Transaction Value
Unused Value
Average Value Per Transaction
Transaction Volume
Average Value of Card Purchased
Number of Cards

Gift Card Market Size by Consumer Segment in United States

Retail Consumer
Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size in United States

By Retail Consumer
By Retail Purchase Occasion
By Corporate Consumer
By Corporate Purchase Occasion
By Company Size

Gift Card Market Size by Retail Consumer in United States

By Functional Attribute
By Occasion
Festivals & Special Celebration Days
Milestone Celebration
Self-Use
Other
Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics in United States

Consumer Purchase Behaviour
Gift Card Buyer by Age Group
Gift Card Buyer by Income Level
Gift Card Buyer by Gender

Gift Card Market Size by Corporate Consumer in United States

By Functional Attribute
By Occasion
Employee Incentive
Sales Incentive
Consumer Incentive
By Scale of Business
Budget Allocation Trend for 2021

Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in United States

Food & Beverage
Health, Wellness & Beauty
Apparel, Footwear & Accessories
Books & Media Products
Consumer Electronics
Restaurants & Bars
Toys, Kids, and Babies
Jewelry
Sporting Goods
Home & Kitchen Accessories & Appliances
Travel
Entertainment & Gaming
Other

Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in United States

Ecommerce & Department Stores
Restaurants & Bars
Supermarket, Hypermarket, Convenience Store
Entertainment & Gaming
Specialty Stores
Health & Wellness
Travel

Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in United States

Gift Card Online Sales
Gift Card Offline Sales
1st Party Sales
3rd Party Sales
Sales Uplift

Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:

Wal-Mart Stores Inc
Kroger Co
Amazon.com Inc
Target Corp
Costco Wholesale Corp
Albertson's Inc
Home Depot Inc, The
Apple Inc

For more information about this report visit https://www.researchandmarkets.com/r/g1uazp

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Research and Markets
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SOURCE Research and Markets