NEW YORK, Nov. 23, 2022 /PRNewswire/ -- Technavio categorizes the global gift card market as a part of the personal product market, the parent market. The personal products market products and companies engaged in research and development (R&D) and the production of personal and beauty care products, including cosmetics and perfumes. The global gift card market size is estimated to increase by USD 843.11 billion from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 12.87%.
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To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
Vendor Landscape - The global gift card market is highly fragmented due to the presence of several established vendors. The competition in the market is expected to remain the same throughout the forecast period. Leading global vendors are investing in building infrastructure suitable for manufacturing operations. They are also emphasizing significantly on brand building and brand equity to differentiate themselves from other vendors. Vendors are also differentiating in terms of product innovations. They are continuously updating their products according to the evolving trends in the market.
The price differentiation among vendors is low. This is due to almost similar product offerings and steady competition. The quality and regulatory compliance also remained low due to the very low criticality and low significance of the product. The factors of differentiation are expected to remain the same as well during the forecast period.
- Blackhawk Network Holdings Inc.: The company offers gift cards for employers and merchants as epurchases, employee incentives, and rebate management winners as a part of its digital reward system.
- Duracard LLC: The company offers gift cards for companies with personalized bar code, designs as well as scratch off pin code.
- Fidelity National Information Services Inc.: The company offers gift cards such as corporate gifts, incentives, mall and rebates, or reloadable products such as general purpose, benefits, government disbursement, healthcare, incentive, payroll, remittance, teen or family, and travel cards.
- Fiserv Inc.: The company offers gift cards for small-scale businesses to acquire new customers and boost sales.
- For Details on vendor and its offerings – Buy report!
By geography, the global gift card market is segmented into North America, Europe, APAC, the Middle East and Africa, and South America. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global gift card market.
- North America held a 40% share of the global cloud data warehouse market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The growth of the gift card market in North America is driven by factors such as the rise in consumer retail spending, better e-commerce strategies, and relatively low inflation. In addition, the presence of a large number of retail companies such as Walmart Inc., Costco Wholesale Corp., The Kroger Co., The Home Depot Inc., and Target Corp. is increasing the sales of gift cards in North America.
By type, the global gift card market is segmented into e-gift cards and physical gift cards.
- The market share growth of the e-gift cards segment will be higher than the other segments during the forecast period. E-gift cards are popular among consumers and retailers as they are more versatile and flexible compared to physical gift cards. These cards are viewed as the most suitable gifting options for employees, clients, and other stakeholders as they reduce the efforts required by corporates to select personalized gifts for everyone. They save businesses from logistical and management problems that they often face while issuing physical gifting cards. Many such benefits are driving the growth of the market in the e-gift cards segment.
- Impactful Driver - The growth of the e-commerce sector is driving the growth of the market. Factors such as high internet and smartphone penetration and a growing tech-savvy population have increased sales of various products through online channels. In addition, the convenience offered by e-commerce platforms such as the presence of multiple payment options, including cash on delivery, the availability of a wide range of products, and user reviews are helping consumers in making better-informed decisions. With the increased consumer interest in online shopping, e-commerce companies are using e-cards as a marketing tool. Customers can redeem the gift card amount on the purchase of any product of their choice. This helps e-commerce players to acquire new customers. Gift cards also increase the overall sales for e-commerce players as consumers generally tend to spend more than the value of these cards to receive a product of their choice. Thus, the growth of the e-commerce sector is driving the growth of the market in focus.
- Key Trend - The rise of open-loop gift cards is the key trend in the market. An increasing number of vendors have been launching open-loop gift cards. This is because open-loop gift cards have a wide acceptance and are not specific to a particular business, and are accepted almost everywhere. These cards are backed by payment card processor networks such as Visa, MasterCard, and American Express. They can be purchased from supermarkets, home goods retailers, and service stations and can be redeemed virtually almost anywhere. Such benefits are increasing the popularity of open-loop gift cards. This trend is expected to have a positive impact on the growth of the global gift card market during the forecast period.
- Major Challenge - The chances of money loss instances associated with gift cards is the major challenge in the market. Most gift cards come with an expiry date. Hence, the recipients must use the card within the specified time. However, with hectic lifestyles, recipients may forget to use the card within the stipulated time period. Sometimes when making a purchase, a part of the money in the gift card remains unused. Also, certain gift cards have hidden charges or fees and undisclosed terms and conditions that are not disclosed to buyers or recipients at the time of purchase. Hence, recipients tend to spend additional money to avail of the services of gift cards. Many such factors are expected to have a negative impact on the growth of the global gift card market during the forecast period.
What are the key data covered in this gift card market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the gift card market between 2023 and 2027
- Precise estimation of the size of the gift card market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the gift card market industry across APAC, North America, Europe, Middle East and Africa, and South America
- Thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of gift card market vendors
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Technavio's SUBSCRIPTION platform
- The gifts retailing market report is a comprehensive research document that provides in-depth qualitative and quantitative intelligence. Technavio's analysts estimate a market share growth of USD 13491.69 million from 2022 to 2027, at a CAGR of 3.01%. The market is segmented by distribution channel (offline and online), product (souvenirs and novelty items, seasonal decorations, greeting cards, giftware, and other gift items), and geography (APAC, Europe, the Middle East and Africa, North America, and South America).
- The gifts novelty and souvenirs market share is expected to increase by USD 13.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.4%. The market is segmented by distribution channel (offline and online), product (souvenirs and novelty items, seasonal decorations, greeting cards, and other gift items), and geography (Europe, North America, APAC, South America, and the Middle East and Africa).
Gift Card Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.87% |
Market growth 2023-2027 |
USD 843.11 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.99 |
Regional analysis |
North America, Europe, APAC, the Middle East and Africa, and South America |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, Australia, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Blackhawk Network Holdings Inc., Card USA Inc, Duracard LLC, Fidelity National Information Services Inc., Fiserv Inc., FleetCor Technologies Inc., Givex Corp., Hennes & Mauritz AB, InComm, Jifiti.com Inc., Kindcard Inc., LVMH Moet Hennessy Louis Vuitton SE, PineLabs Pvt. Ltd., Plastek Card Solutions Inc., Square Inc., Tele Pak Inc, The Voucher Market Ltd., TransGate Solutions LLC, VRG Holdco Pty Ltd, and Yiftee Inc |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
- 4.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 4.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 4.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
- 4.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
- 4.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
- 4.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 25: Chart on Type - Market share 2022-2027 (%)
- Exhibit 26: Data Table on Type - Market share 2022-2027 (%)
- 5.2 Comparison by Type
- Exhibit 27: Chart on Comparison by Type
- Exhibit 28: Data Table on Comparison by Type
- 5.3 E-gifts cards - Market size and forecast 2022-2027
- Exhibit 29: Chart on E-gifts cards - Market size and forecast 2022-2027 ($ billion)
- Exhibit 30: Data Table on E-gifts cards - Market size and forecast 2022-2027 ($ billion)
- Exhibit 31: Chart on E-gifts cards - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on E-gifts cards - Year-over-year growth 2022-2027 (%)
- 5.4 Physical gift cards - Market size and forecast 2022-2027
- Exhibit 33: Chart on Physical gift cards - Market size and forecast 2022-2027 ($ billion)
- Exhibit 34: Data Table on Physical gift cards - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Chart on Physical gift cards - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Physical gift cards - Year-over-year growth 2022-2027 (%)
- 5.5 Market opportunity by Type
- Exhibit 37: Market opportunity by Type ($ billion)
6 Market Segmentation by Distribution Channel
- 6.1 Market segments
- Exhibit 38: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 39: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 6.2 Comparison by Distribution Channel
- Exhibit 40: Chart on Comparison by Distribution Channel
- Exhibit 41: Data Table on Comparison by Distribution Channel
- 6.3 Offline - Market size and forecast 2022-2027
- Exhibit 42: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 43: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 6.4 Online - Market size and forecast 2022-2027
- Exhibit 46: Chart on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 47: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Distribution Channel
- Exhibit 50: Market opportunity by Distribution Channel ($ billion)
7 Customer Landscape
- 7.1 Customer landscape overview
- Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 52: Chart on Market share by geography 2022-2027 (%)
- Exhibit 53: Data Table on Market share by geography 2022-2027 (%)
- 8.2 Geographic comparison
- Exhibit 54: Chart on Geographic comparison
- Exhibit 55: Data Table on Geographic comparison
- 8.3 North America - Market size and forecast 2022-2027
- Exhibit 56: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 57: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 58: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 8.4 Europe - Market size and forecast 2022-2027
- Exhibit 60: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 61: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 62: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 8.5 APAC - Market size and forecast 2022-2027
- Exhibit 64: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 65: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 66: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 67: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 8.6 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 68: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 69: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 70: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 71: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 8.7 South America - Market size and forecast 2022-2027
- Exhibit 72: Chart on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 73: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 74: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 75: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 8.8 US - Market size and forecast 2022-2027
- Exhibit 76: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 77: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 78: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 79: Data Table on US - Year-over-year growth 2022-2027 (%)
- 8.9 UK - Market size and forecast 2022-2027
- Exhibit 80: Chart on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 81: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 82: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 83: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 8.10 Germany - Market size and forecast 2022-2027
- Exhibit 84: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 85: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 86: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 87: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 8.11 Australia - Market size and forecast 2022-2027
- Exhibit 88: Chart on Australia - Market size and forecast 2022-2027 ($ billion)
- Exhibit 89: Data Table on Australia - Market size and forecast 2022-2027 ($ billion)
- Exhibit 90: Chart on Australia - Year-over-year growth 2022-2027 (%)
- Exhibit 91: Data Table on Australia - Year-over-year growth 2022-2027 (%)
- 8.12 Japan - Market size and forecast 2022-2027
- Exhibit 92: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 93: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 94: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 95: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 8.13 Market opportunity by geography
- Exhibit 96: Market opportunity by geography ($ billion)
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Impact of drivers and challenges
- Exhibit 97: Impact of drivers and challenges in 2022 and 2027
- 9.4 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Vendor landscape
- Exhibit 98: Overview on Criticality of inputs and Factors of differentiation
- 10.3 Landscape disruption
- Exhibit 99: Overview on factors of disruption
- 10.4 Industry risks
- Exhibit 100: Impact of key risks on business
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 101: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 102: Matrix on vendor position and classification
- 11.3 Blackhawk Network Holdings Inc.
- Exhibit 103: Blackhawk Network Holdings Inc. - Overview
- Exhibit 104: Blackhawk Network Holdings Inc. - Product / Service
- Exhibit 105: Blackhawk Network Holdings Inc. - Key offerings
- 11.4 Card USA Inc
- Exhibit 106: Card USA Inc - Overview
- Exhibit 107: Card USA Inc - Product / Service
- Exhibit 108: Card USA Inc - Key offerings
- 11.5 Duracard LLC
- Exhibit 109: Duracard LLC - Overview
- Exhibit 110: Duracard LLC - Product / Service
- Exhibit 111: Duracard LLC - Key offerings
- 11.6 Fidelity National Information Services Inc.
- Exhibit 112: Fidelity National Information Services Inc. - Overview
- Exhibit 113: Fidelity National Information Services Inc. - Business segments
- Exhibit 114: Fidelity National Information Services Inc. - Key news
- Exhibit 115: Fidelity National Information Services Inc. - Key offerings
- Exhibit 116: Fidelity National Information Services Inc. - Segment focus
- 11.7 Fiserv Inc.
- Exhibit 117: Fiserv Inc. - Overview
- Exhibit 118: Fiserv Inc. - Business segments
- Exhibit 119: Fiserv Inc. - Key offerings
- Exhibit 120: Fiserv Inc. - Segment focus
- 11.8 FleetCor Technologies Inc.
- Exhibit 121: FleetCor Technologies Inc. - Overview
- Exhibit 122: FleetCor Technologies Inc. - Business segments
- Exhibit 123: FleetCor Technologies Inc. - Key offerings
- Exhibit 124: FleetCor Technologies Inc. - Segment focus
- 11.9 Givex Corp.
- Exhibit 125: Givex Corp. - Overview
- Exhibit 126: Givex Corp. - Product / Service
- Exhibit 127: Givex Corp. - Key offerings
- 11.10 InComm
- Exhibit 128: InComm - Overview
- Exhibit 129: InComm - Product / Service
- Exhibit 130: InComm - Key offerings
- 11.11 Jifiti.com Inc.
- Exhibit 131: Jifiti.com Inc. - Overview
- Exhibit 132: Jifiti.com Inc. - Product / Service
- Exhibit 133: Jifiti.com Inc. - Key offerings
- 11.12 Kindcard Inc.
- Exhibit 134: Kindcard Inc. - Overview
- Exhibit 135: Kindcard Inc. - Product / Service
- Exhibit 136: Kindcard Inc. - Key offerings
- 11.13 PineLabs Pvt. Ltd.
- Exhibit 137: PineLabs Pvt. Ltd. - Overview
- Exhibit 138: PineLabs Pvt. Ltd. - Product / Service
- Exhibit 139: PineLabs Pvt. Ltd. - Key offerings
- 11.14 Plastek Card Solutions Inc.
- Exhibit 140: Plastek Card Solutions Inc. - Overview
- Exhibit 141: Plastek Card Solutions Inc. - Product / Service
- Exhibit 142: Plastek Card Solutions Inc. - Key offerings
- 11.15 Square Inc.
- Exhibit 143: Square Inc. - Overview
- Exhibit 144: Square Inc. - Business segments
- Exhibit 145: Square Inc. - Key offerings
- Exhibit 146: Square Inc. - Segment focus
- 11.16 Tele Pak Inc
- Exhibit 147: Tele Pak Inc - Overview
- Exhibit 148: Tele Pak Inc - Product / Service
- Exhibit 149: Tele Pak Inc - Key offerings
- 11.17 The Voucher Market Ltd.
- Exhibit 150: The Voucher Market Ltd. - Overview
- Exhibit 151: The Voucher Market Ltd. - Product / Service
- Exhibit 152: The Voucher Market Ltd. - Key offerings
12 Appendix
- 12.1 Scope of the report
- 12.2 Inclusions and exclusions checklist
- Exhibit 153: Inclusions checklist
- Exhibit 154: Exclusions checklist
- 12.3 Currency conversion rates for US$
- Exhibit 155: Currency conversion rates for US$
- 12.4 Research methodology
- Exhibit 156: Research methodology
- Exhibit 157: Validation techniques employed for market sizing
- Exhibit 158: Information sources
- 12.5 List of abbreviations
- Exhibit 159: List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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