Gift Cards Market Business Strategies, Acquisitions, Revenue Analysis Share, Forecast to 2028 | by First Data, Qwikcilver Solutions Pvt Ltd, NGC US

New Jersey, United States - Analysis of Gift Cards Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The market for gift cards is anticipated to expand at a CAGR of 14.56% between 2022 and 2029. Gift cards are a sort of preloaded debit card that can be used for making purchases of goods and services by the cardholder. Additionally, they give people choices so they can add more money to them. The primary driver fueling the growth of the gift card industry is the rising use of gift cards as promotional items. The market for gift cards is also anticipated to increase as a result of rising demand from commercial sectors, rising e-commerce, rising digitalization, rising gifting culture, and technological advancements. However, the market for gift cards is being constrained by rising worries about the use of plastic and the possibility of additional money loss.

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This gift card market report includes information on recent developments, trade laws, production analysis, value chain optimization, market share, and the effects of domestic and regional market players. It also examines opportunities for new revenue streams, regulatory changes, strategic market growth analysis, market size, category market expansions, application niches and dominance, product approvals, product launches, and geographic exceptions.

Division segment:

The functional attribute, industry vertical, merchant, and product categories are used to divide the gift card market. The development of these segments will assist you in analysing the industries' sparsely growing segments and will give users useful industry overview and market insights to aid in the selection of key market applications.

Restaurants hold a high market share of 23.7% in terms of merchant type, followed by department stores, discount stores, supermarkets/hypermarkets, and grocery stores. Restaurants are increasingly active in providing cards, discounts, etc. to draw in customers and boost coupon sales. Additionally, department stores are likely to see a rise in the use of gift cards. During the predicted period, the department store category is probably going to experience a CAGR of above 16%. Another indicator of the sector's expansion is the growing presence of department shops in middle- and low-income nations.

Restaurant closed loop cards possess a significant market share of 28.1% in terms of card type, followed by retail closed loop and universally recognised closed loop. Restaurant aggregators like Zomato, Swiggy, and others have started to offer gift cards, which has greatly aided in the rise of restaurant closed loop cards' sales. Through 2031, the sector is anticipated to increase at a CAGR of around 9%.

Regional analysis:

Businesses in the country's commercial sector are increasingly embracing non-cash methods, such as incentive trips, gift cards, and reward points, to recognise and reward key personnel for their work. This pervasive incentive culture in the United States itself is a sign of significant potential for regional growth. Customization of gift cards is highly valued by customers as a gifting and reward option. The U.K. is not a newcomer to customization but players believe it adds an added bonus to the revenue bag. Players in the nation are increasingly turning to offering customised and personalised gift card solutions in response to expanding corporate and personal needs. One such organisation that provides the option to personalise and customise card options based on the occasion is Amazon.com, Inc. In terms of gifting quantity, card design, pattern, etc., players give customization. Along with other customisation options, suppliers often offer company name and logo embossment in response to corporate requirements.

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Competitive analysis:

The major players operating in the gift card market report are First Data, Qwikcilver Solutions Pvt Ltd., NGC US, LLC., Blackhawk Network Holdings, Plastek Card Solutions, Inc., Duracard, TenderCard, TransGate Solutions, Buyatab, Apple Inc., Basic Visual Id Technologies., Creative Cards & Solutions, C. M. M. Info Tech, Prime Plastic Cards., Micro Labels Private Limited., and PSM Cards, among others.

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