Gift Card Market to Witness Robust Growth, Projected to Reach USD 1,897.46 billion by 2031 Growing at a CAGR of 11.2%

Global Gift Card Market has experienced significant growth in recent years, driven by the increasing adoption of digital payment solutions, growing e-commerce penetration, and rising consumer preference for contactless and convenient transaction methods. The market encompasses a wide range of products, including digital gift cards, e-gift cards, and virtual gift cards, which have gained popularity among consumers due to their flexibility and ease of use. Key sectors driving the demand for gift cards in the region include retail, hospitality, and e-commerce, where gift cards are used for promotions, customer loyalty programs, and gifting purposes. Additionally, the integration of advanced technologies such as mobile wallets, contactless payment systems, and QR code integration has enhanced the convenience and security of gift card transactions, further boosting market growth.

The global gift card market has witnessed remarkable growth in recent years and is expected to maintain its upward trajectory. Valued at approximately USD 818.52 billion in 2023, the market is projected to reach around USD 1,897.46 billion by 2031, reflecting a compound annual growth rate (CAGR) of approximately 11.2% from 2024 to 2031.

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𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

Fiserv, Inc.
Givex Corporation
Blackhawk Network
Walmart In
American Express
Qwikcilver Solutions
Paytronix Systems, Inc.
Paypal Holdings, Inc.
Amazon.Com, Inc.
Incomm Payments
Cinépolis
Others

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

By Cashless Product Type
• Digital Gift Cards
• E-Gift Cards
• Virtual Gift Cards
• Mobile Wallet Integration
• Contactless Payments
• QR Code Integration

By Application
• B2B (Business-to-Business)
• B2C (Business-to-Consumer

By Card Type
• Closed-loop Card
• Open-loop Card

By Merchant
• Restaurant
• Department store
• Grocery stores/food supermarket
• Discount store
• Coffee shop
• Entertainment
• Others

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://futuremarketconsulting.com/reportsdetail/global-gift-card-market-53533

Market Dynamics

Opportunity:

The growth of retail and service sectors in Latin America is creating huge opportunities for the gift card market. As new shopping centers, online stores, restaurants, and entertainment venues emerge, the demand for gift cards continues to rise. Gift cards are popular as promotional tools, helping businesses attract customers, boost sales, and increase brand visibility.

In retail, gift cards encourage repeat business and customer loyalty. Restaurants and cafes use them to attract new customers, promote events, and drive repeat visits. Entertainment venues like cinemas and amusement parks also use gift cards to boost ticket sales, especially during slower periods.

Partnering with popular local brands for co-branded gift cards and integrating them into digital platforms further increases their appeal. With growing consumer interest in convenience and choice, businesses in Latin America can use gift cards to connect with a larger audience and drive long-term growth.

Objectives of the Report:

To carefully analyse and forecast the size of the Gift Card market by value and volume.
To estimate the market shares of major segments of the Gift Card market.
To showcase the development of the Gift Card market in different parts of the world.
To analyse and study micro-markets in terms of their contributions to the Gift Card market, their prospects, and individual growth trends.
To offer precise and useful details about factors affecting the growth of the Gift Card market.
To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Gift Card market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

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Gauri Dabi | Business Development
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Email: sales@futuremarketconsulting.com
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