Global Gift Card Market Outlook, 2029

The Global Gift Card Market is segmented into By Card Types (Closed -Loop Card and Open-loop Card), By Price Range (High, Medium and Low), By Sale Channel (Offline and Online) and By End User (Retail Establishment and Corporate Institution).

The global gift card market will exceed USD 1300 Billion by 2029, up from USD 583.16 Billion in 2023, growing at a 14.87% CAGR, propelled by e-commerce growth.

Gift Card Market Analysis

The global gift card industry has seen remarkable growth in recent years, emerging as a popular alternative to traditional gifting options. With consumers increasingly seeking convenient, versatile, and personalized gift solutions, gift cards have become a preferred choice for many. Branded gift cards, associated with specific retailers or service providers, are gaining immense popularity. They allow recipients to choose from a variety of products and services, offering flexibility and a tailored experience. Brands like Amazon, Starbucks, and Netflix have leveraged this trend to boost sales and engage customers effectively. Multi-store gift cards, which can be used across various retailers, have become a favored choice for consumers seeking versatility. These cards offer recipients the freedom to shop at multiple locations, making them a practical and appealing gift option. This trend is particularly strong during the holiday season, when consumers look for gifts that offer broad appeal. In addition to that, as cryptocurrencies gain mainstream acceptance, the gift card industry is witnessing the emergence of cryptocurrency-based gift cards. These cards allow recipients to redeem them for popular digital currencies like Bitcoin, Ethereum, and others. This new offering caters to the growing interest in digital assets and provides an innovative gifting option for tech-savvy consumers. As the holiday season approaches, the demand for gift cards is expected to surge, making them a staple in consumer spending. Retailers are likely to capitalize on this trend by offering promotions and discounts on gift card purchases. The integration of gift cards into loyalty programs and mobile wallets will further boost their popularity, making them an indispensable tool for enhancing customer engagement and retention. The convenience and flexibility of gift cards have cemented their status as a preferred choice among consumers seeking versatile gifting solutions. These cards offer numerous benefits to both individuals and businesses, solidifying their position as a valuable asset across various industries. The growing popularity of e-gift cards has added a new digital layer to the gift card market, making them even more convenient to a broad range of customers, even in remote areas. Meanwhile, the rising accessibility of open loop gift cards has expanded usage options, giving recipients greater flexibility in how and where they can redeem their cards. According to the research report, “Global Gift Card Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 1300 Billion by 2029, increasing from USD 583.16 Billion in 2023. The market is expected to grow with a 14.87% CAGR from 2024 to 2029. The rise of e-commerce and digital payment systems has significantly influenced the gift card market, making it easier for consumers to purchase and redeem gift cards online. Another major driver is the increasing trend of corporate gifting. Many companies now use gift cards as rewards for employees, loyalty programs, and customer incentives. This trend has gained momentum, especially in the retail and hospitality sectors, where gift cards are used to enhance customer engagement and satisfaction. The ease of customization has also made gift cards a popular choice for businesses looking to offer personalized experiences to their clients and partners. The digital transformation of the gift card industry has been a game-changer, especially with the advent of e-gift cards. Unlike traditional physical cards, e-gift cards offer instant delivery and are easily accessible via email or mobile apps, providing a seamless experience for both the sender and recipient. The rise of mobile wallets and digital payment platforms like Apple Pay, Google Pay, and PayPal has further propelled the adoption of e-gift cards. This shift towards digitalization has been fueled by consumer demand for convenience and the increasing penetration of smartphones globally. Moreover, the integration of artificial intelligence (AI) and data analytics in the gift card market has enabled retailers to offer personalized recommendations to consumers. By analyzing purchasing behavior and preferences, companies can tailor their gift card offerings, enhancing the overall customer experience. This personalized approach has proven to be highly effective in boosting sales and customer loyalty. The user-friendliness of gift cards, whether physical or electronic, is a driving factor behind this market growth. As more businesses and consumers embrace the practicality and efficiency of gift cards, we can expect this sector to continue flourishing in the years to come.

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Market Dynamic

Market DriversShift Towards Cashless and Contactless Payments: The growing global preference for cashless and contactless payment solutions has significantly driven the adoption of gift cards. With the rise of digital wallets and mobile payment platforms like Apple Pay, Google Pay, and PayPal, consumers are increasingly favoring digital transactions over cash. Gift cards, especially e-gift cards, align well with this trend as they offer a secure, cashless alternative. The convenience of purchasing, sending, and redeeming gift cards online has made them a popular choice among consumers, particularly during the COVID-19 pandemic, which accelerated the shift towards digital payment solutions. • Rising Popularity of Experiential Gifting: The desire for memorable experiences over physical goods has driven the demand for experience-based gift cards. Consumers, especially millennials and Gen Z, are seeking unique and meaningful gifts, leading to an increase in gift cards for activities such as dining experiences, travel, entertainment, and spa services. Experience-based gift cards offer recipients the freedom to choose their preferred activity, making them a versatile option for those who value creating memories over accumulating material possessions. This shift in consumer behavior is driving the growth of the gift card market, particularly in sectors like hospitality, travel, and entertainment. Market ChallengesHigh Rate of Gift Card Fraud: One of the most pressing challenges in the gift card industry is the high incidence of fraud. Gift card fraud can occur through various methods, such as phishing, card cloning, and hacking of online gift card databases. Fraudsters often target gift cards because they are easy to monetize and harder to trace than other payment methods. This has prompted companies to invest heavily in security measures like tokenization, encryption, and real-time monitoring. Despite these efforts, the growing sophistication of fraud tactics continues to pose a significant threat, requiring ongoing vigilance and technological advancements to safeguard consumers and retailers. • Breakage and Unredeemed Balances: The issue of breakage, or the unredeemed balance on gift cards, is another major challenge for the industry. A significant portion of gift cards is either partially redeemed or not used at all, leading to a substantial amount of unclaimed revenue. While this can be financially beneficial for retailers in the short term, it can also negatively impact customer satisfaction and loyalty if consumers feel they have wasted money. Companies are increasingly seeking ways to reduce breakage, such as sending reminders to customers, offering incentives for full redemption, and introducing more flexible usage options to encourage gift card holders to utilize their balances fully. Market TrendsIntegration with Loyalty Programs: A key trend in the gift card industry is the integration of gift cards with loyalty and reward programs. Retailers and businesses are increasingly using gift cards as part of their customer engagement strategies, offering them as rewards for loyalty points, promotional activities, and special events. By combining gift cards with loyalty programs, companies can enhance customer retention, boost spending, and increase brand loyalty. For instance, many retail chains allow customers to convert loyalty points into gift cards, providing a seamless and convenient way for consumers to redeem rewards and encouraging repeat purchases. • Sustainability and Eco-Friendly Gift Cards: The growing focus on sustainability has led to an increased demand for eco-friendly gift cards. As consumers become more environmentally conscious, they are seeking gift card options that minimize their carbon footprint. This trend has given rise to digital e-gift cards as a sustainable alternative to traditional plastic cards, reducing waste and lowering production costs. Additionally, some companies are introducing biodegradable or recyclable physical gift cards, aligning with the global push towards sustainability. This trend not only meets consumer demand for greener options but also helps businesses enhance their corporate social responsibility (CSR) efforts.

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Gift Card Segmentation

By Card Types Closed -Loop Card
Open-loop Card
By Price Range High
Medium
Low
By Sale Channel Offline
Online
By End User Retail Establishment
Corporate Institution
GeographyNorth AmericaUnited States
Canada
Mexico
EuropeGermany
United Kingdom
France
Italy
Spain
Russia
Asia-PacificChina
Japan
India
Australia
South Korea
South AmericaBrazil
Argentina
Colombia
MEAUnited Arab Emirates
Saudi Arabia
South Africa

Closed-loop gift cards are leading the market because they offer retailers greater control over customer spending and provide opportunities to drive brand loyalty and repeat business. Closed-loop gift cards, which can only be redeemed at a specific retailer or brand, have become dominant in the gift card market due to the numerous advantages they offer to both businesses and consumers. For retailers, these cards act as an effective tool for customer retention, ensuring that the funds from the gift card are spent within their own ecosystem. This closed environment allows businesses to control the shopping experience, guide purchasing behavior, and even promote high-margin products. Additionally, closed-loop cards enable retailers to gather valuable data on consumer preferences and spending patterns, which can be used to tailor marketing strategies and enhance personalized customer engagement. The built-in restriction of usage only at the issuing brand also helps prevent revenue leakage to competitors, further solidifying the relationship between the customer and the retailer. For consumers, closed-loop cards are often seen as a direct and thoughtful gift, especially when they align with the recipient's favorite store or brand, providing a more personalized experience compared to generic prepaid cards. Retailers frequently offer incentives, such as bonus credit or exclusive discounts with closed-loop cards, making them an attractive choice for both gift-givers and recipients. This strategic alignment of brand loyalty, targeted promotions, and customer data insights makes closed-loop gift cards a preferred option, fueling their leadership in the market. Low price range gift cards are leading the market because they cater to a broader audience, offering an affordable and accessible gifting option for various occasions, driving higher purchase volumes and wider adoption. Gift cards in the low price range, typically under $50, have gained substantial traction in the market due to their wide appeal and accessibility. These cards serve as an ideal choice for small-scale, casual gifting occasions like birthdays, holidays, thank-you gestures, and employee incentives, where buyers may prefer an affordable yet thoughtful option. The lower denomination makes it easier for consumers to purchase multiple gift cards at once, catering to diverse recipients without significant financial burden. Additionally, low-value gift cards are popular in corporate settings, where they are often used as rewards in loyalty programs, customer appreciation initiatives, and employee recognition, allowing businesses to provide a meaningful yet cost-effective incentive. For retailers, offering a variety of low-denomination cards helps attract a broader range of customers, including those who may not typically purchase from the brand. It also encourages incremental spending, as recipients often use the gift card as a discount toward a larger purchase, boosting the overall transaction value. The affordability and ease of purchase, combined with their versatility as a simple and universally appreciated gift, make low price range gift cards a dominant choice, driving their leadership in the market and enhancing the overall consumer gifting experience. Offline sales channels are leading in the gift card market because they provide instant accessibility, cater to impulse buying behavior, and offer a tangible gifting experience that appeals to traditional shoppers. Despite the rise of digital gifting, offline sales channels such as physical retail stores, supermarkets, and convenience stores continue to dominate the gift card market. This is primarily because they offer immediate access, making it easy for consumers to purchase gift cards on-the-spot, especially during last-minute shopping for birthdays, holidays, or special occasions. The physical presence of gift card racks in high-traffic areas like checkout counters effectively capitalizes on impulse buying behavior, where customers might add a gift card to their purchase as a quick and convenient gifting solution. Additionally, the tactile experience of selecting a physical gift card and presenting it as a gift provides a more personal touch compared to digital options, appealing to those who value the traditional act of gifting something tangible. Retailers often create visually appealing displays of gift cards from various popular brands, making it easy for shoppers to find a suitable option in one place. Moreover, many consumers still prefer the security and familiarity of buying physical gift cards in-store, as they can verify the card’s value and activation status immediately upon purchase, reducing the risk of fraud. These factors, combined with the strong retail presence and established shopping habits of a significant portion of the consumer base, contribute to the leading position of offline sales channels in the gift card market. Retail establishments are leading in the gift card market because they offer a convenient, one-stop solution for consumers, leveraging in-store visibility and foot traffic to drive impulse purchases and enhance customer engagement. Retail establishments, including supermarkets, department stores, and specialty retailers, dominate the gift card market due to their strategic advantages in accessibility and consumer behavior. These physical stores provide a seamless and convenient shopping experience, where gift cards are prominently displayed near checkout counters or in dedicated kiosks, making them highly visible to customers. This visibility taps into impulse buying tendencies, as shoppers are often looking for quick and convenient last-minute gifts, and a gift card serves as an easy solution that can suit any recipient. Retailers benefit from this setup by showcasing a variety of branded gift cards, catering to different preferences and needs in a single location, thus offering a one-stop shopping experience. Additionally, the tangible aspect of picking up a physical gift card, often designed with attractive packaging and seasonal themes, appeals to traditional shoppers who prefer the physical act of gifting. For retailers, gift cards are a dual advantage—they serve as both a product and a marketing tool that brings customers back into their stores for redemption, increasing foot traffic and potential sales beyond the card's value. By capitalizing on in-store promotions, seasonal demand, and the convenience factor, retail establishments have positioned themselves as a leading channel for gift card sales, effectively capturing a wide customer base and driving consistent market growth.

Gift Card Market Regional Insights

North America is leading the gift card market due to its advanced retail infrastructure, high consumer spending power, and widespread adoption of digital payment solutions, making it a mature and dynamic market for gift cards. North America's dominance in the gift card market can be attributed to its well-developed retail landscape, strong consumer spending, and early adoption of digital technologies. The region is home to some of the world's largest retail chains and e-commerce platforms, such as Walmart, Amazon, and Target, which have integrated gift cards extensively into their sales and marketing strategies. This well-established retail network offers a wide variety of both closed-loop and open-loop gift cards, catering to diverse consumer needs and preferences. Additionally, North America's high disposable income levels and cultural practices around gifting, especially during major holidays like Christmas, Thanksgiving, and birthdays, drive significant demand for gift cards as a versatile and preferred gift choice. The region has also been at the forefront of embracing digital and mobile payment solutions, leading to a rapid increase in e-gift card adoption. With the proliferation of smartphones, mobile wallets, and contactless payment options, consumers have embraced the convenience of purchasing, sending, and redeeming digital gift cards. Moreover, the popularity of loyalty programs and corporate incentives in North America, where gift cards are often used as rewards and promotions, has further fueled market growth. These factors combined have created a robust ecosystem for the gift card industry, positioning North America as a global leader in this market segment.

Key Development

• In June 2024, Google Wallet partnered with Pine Labs to help manage gift cards within an app. This partnership came nearly three weeks after Google announced the launch of its digital wallet application in India. Through a partnership with Pine Labs, Google Wallet users can store and manage their gift cards within the app. The application will prompt customers to use their gift cards at the point of purchase. • In May 2024, InComm Payments, a global payments technology provider, announced the launch of Roblox gift cards at both online and physical retailers in Hong Kong. This introduction marked the first time Roblox gift cards are available for purchase in the Hong Kong market, offering access to the popular online immersive platform where millions of people connect and communicate daily. • In December 2023, Pine Labs' Qwikcilver, a prominent provider of comprehensive gift card and stored value solutions across Southeast Asia and India, teamed up with foodpanda, Asia's largest food and grocery delivery network (excluding China), to introduce foodpanda Gift Cards. This enhanced offering allowed foodpanda customers to conveniently redeem and complete their purchases. • In September 2023, Razorpay, a domestic payments and banking platform for enterprises, debuted the D2C GRO Suite. This week, the business sponsored the D2C Sparkx 2023 event, where the D2O GRO Suite was revealed. Razorpay promises that this suite will enable brands to address a variety of difficulties throughout the e-commerce lifecycle. This involves providing better purchasing experiences, preventing fraud, and enabling frictionless checkouts. The company also claims that the expanded package of tools would enable 2.5 lakh e-commerce and direct-to-consumer brands raise sales by 50%.

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Companies Mentioned

  • Apple, Inc
  • Amazon.com, Inc.
  • Walmart Inc
  • Walgreens Boots Alliance, Inc.
  • H & M Hennes & Mauritz AB
  • Mastercard Inc.
  • Visa Inc
  • PayPal Holdings, Inc
  • Fiserv, Inc.
  • American Express Company
  • Best Buy Co., Inc
  • American Greetings Corporation
  • Circu Magical Furniture
  • Semtech Corporation
  • SSAB AB
  • OJSC Novolipetsk Steel
  • Insteel Industries, Inc.
  • WireCo WorldGroup Inc.
Company mentioned

Table of Contents

  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.3.1. XXXX
  • 2.3.2. XXXX
  • 2.3.3. XXXX
  • 2.3.4. XXXX
  • 2.3.5. XXXX
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Gift Card Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Card Types
  • 6.5. Market Size and Forecast, By Sales Channel
  • 6.6. Market Size and Forecast, By End Users
  • 6.7. Market Size and Forecast, By Price Range
  • 7. North America Gift Card Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Card Types
  • 7.4. Market Size and Forecast, By Sales Channel
  • 7.5. Market Size and Forecast, By End Users
  • 7.6. United States Gift Card Market Outlook
  • 7.6.1. Market Size By Value
  • 7.6.2. Market Size and Forecast By Card Types
  • 7.6.3. Market Size and Forecast By Sales Channel
  • 7.6.4. Market Size and Forecast By End Users
  • 7.7. Canada Gift Card Market Outlook
  • 7.7.1. Market Size By Value
  • 7.7.2. Market Size and Forecast By Card Types
  • 7.7.3. Market Size and Forecast By Sales Channel
  • 7.7.4. Market Size and Forecast By End Users
  • 7.8. Mexico Gift Card Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Card Types
  • 7.8.3. Market Size and Forecast By Sales Channel
  • 7.8.4. Market Size and Forecast By End Users
  • 8. Europe Gift Card Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast, By Card Types
  • 8.4. Market Size and Forecast, By Sales Channel
  • 8.5. Market Size and Forecast, By End Users
  • 8.6. Germany Gift Card Market Outlook
  • 8.6.1. Market Size By Value
  • 8.6.2. Market Size and Forecast By Card Types
  • 8.6.3. Market Size and Forecast By Sales Channel
  • 8.6.4. Market Size and Forecast By End Users
  • 8.7. United Kingdom Gift Card Market Outlook
  • 8.7.1. Market Size By Value
  • 8.7.2. Market Size and Forecast By Card Types
  • 8.7.3. Market Size and Forecast By Sales Channel
  • 8.7.4. Market Size and Forecast By End Users
  • 8.8. France Gift Card Market Outlook
  • 8.8.1. Market Size By Value
  • 8.8.2. Market Size and Forecast By Card Types
  • 8.8.3. Market Size and Forecast By Sales Channel
  • 8.8.4. Market Size and Forecast By End Users
  • 8.9. Italy Gift Card Market Outlook
  • 8.9.1. Market Size By Value
  • 8.9.2. Market Size and Forecast By Card Types
  • 8.9.3. Market Size and Forecast By Sales Channel
  • 8.9.4. Market Size and Forecast By End Users
  • 8.10. Spain Gift Card Market Outlook
  • 8.10.1. Market Size By Value
  • 8.10.2. Market Size and Forecast By Card Types
  • 8.10.3. Market Size and Forecast By Sales Channel
  • 8.10.4. Market Size and Forecast By End Users
  • 8.11. Russia Gift Card Market Outlook
  • 8.11.1. Market Size By Value
  • 8.11.2. Market Size and Forecast By Card Types
  • 8.11.3. Market Size and Forecast By Sales Channel
  • 8.11.4. Market Size and Forecast By End Users
  • 9. Asia-Pacific Gift Card Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share By Country
  • 9.3. Market Size and Forecast, By Card Types
  • 9.4. Market Size and Forecast, By Sales Channel
  • 9.5. Market Size and Forecast, By End Users
  • 9.6. China Gift Card Market Outlook
  • 9.6.1. Market Size By Value
  • 9.6.2. Market Size and Forecast By Card Types
  • 9.6.3. Market Size and Forecast By Sales Channel
  • 9.6.4. Market Size and Forecast By End Users
  • 9.7. Japan Gift Card Market Outlook
  • 9.7.1. Market Size By Value
  • 9.7.2. Market Size and Forecast By Card Types
  • 9.7.3. Market Size and Forecast By Sales Channel
  • 9.7.4. Market Size and Forecast By End Users
  • 9.8. India Gift Card Market Outlook
  • 9.8.1. Market Size By Value
  • 9.8.2. Market Size and Forecast By Card Types
  • 9.8.3. Market Size and Forecast By Sales Channel
  • 9.8.4. Market Size and Forecast By End Users
  • 9.9. Australia Gift Card Market Outlook
  • 9.9.1. Market Size By Value
  • 9.9.2. Market Size and Forecast By Card Types
  • 9.9.3. Market Size and Forecast By Sales Channel
  • 9.9.4. Market Size and Forecast By End Users
  • 9.10. South Korea Gift Card Market Outlook
  • 9.10.1. Market Size By Value
  • 9.10.2. Market Size and Forecast By Card Types
  • 9.10.3. Market Size and Forecast By Sales Channel
  • 9.10.4. Market Size and Forecast By End Users
  • 10. South America Gift Card Market Outlook
  • 10.1. Market Size By Value
  • 10.2. Market Share By Country
  • 10.3. Market Size and Forecast, By Card Types
  • 10.4. Market Size and Forecast, By Sales Channel
  • 10.5. Market Size and Forecast, By End Users
  • 10.6. Brazil Gift Card Market Outlook
  • 10.6.1. Market Size By Value
  • 10.6.2. Market Size and Forecast By Card Types
  • 10.6.3. Market Size and Forecast By Sales Channel
  • 10.6.4. Market Size and Forecast By End Users
  • 10.7. Argentina Gift Card Market Outlook
  • 10.7.1. Market Size By Value
  • 10.7.2. Market Size and Forecast By Card Types
  • 10.7.3. Market Size and Forecast By Sales Channel
  • 10.7.4. Market Size and Forecast By End Users
  • 10.8. Columbia Gift Card Market Outlook
  • 10.8.1. Market Size By Value
  • 10.8.2. Market Size and Forecast By Card Types
  • 10.8.3. Market Size and Forecast By Sales Channel
  • 10.8.4. Market Size and Forecast By End Users
  • 11. Middle East & Africa Gift Card Market Outlook
  • 11.1. Market Size By Value
  • 11.2. Market Share By Country
  • 11.3. Market Size and Forecast, By Card Types
  • 11.4. Market Size and Forecast, By Sales Channel
  • 11.5. Market Size and Forecast, By End Users
  • 11.6. UAE Gift Card Market Outlook
  • 11.6.1. Market Size By Value
  • 11.6.2. Market Size and Forecast By Card Types
  • 11.6.3. Market Size and Forecast By Sales Channel
  • 11.6.4. Market Size and Forecast By End Users
  • 11.7. Saudi Arabia Gift Card Market Outlook
  • 11.7.1. Market Size By Value
  • 11.7.2. Market Size and Forecast By Card Types
  • 11.7.3. Market Size and Forecast By Sales Channel
  • 11.7.4. Market Size and Forecast By End Users
  • 11.8. South Africa Gift Card Market Outlook
  • 11.8.1. Market Size By Value
  • 11.8.2. Market Size and Forecast By Card Types
  • 11.8.3. Market Size and Forecast By Sales Channel
  • 11.8.4. Market Size and Forecast By End Users
  • 12. Competitive Landscape
  • 12.1. Competitive Dashboard
  • 12.2. Business Strategies Adopted by Key Players
  • 12.3. Key Players Market Share Insights and Analysis, 2022
  • 12.4. Key Players Market Positioning Matrix
  • 12.5. Porter's Five Forces
  • 12.6. Company Profile
  • 12.6.1. Amazon.com, Inc.
  • 12.6.1.1. Company Snapshot
  • 12.6.1.2. Company Overview
  • 12.6.1.3. Financial Highlights
  • 12.6.1.4. Geographic Insights
  • 12.6.1.5. Business Segment & Performance
  • 12.6.1.6. Product Portfolio
  • 12.6.1.7. Key Executives
  • 12.6.1.8. Strategic Moves & Developments
  • 12.6.2. Fiserv, Inc.
  • 12.6.3. Blackhawk Network Holdings, Inc.
  • 12.6.4. Walmart Inc.
  • 12.6.5. Starbucks Corporation
  • 12.6.6. American Express Company
  • 12.6.7. PayPal, Inc.
  • 12.6.8. Givex Corp
  • 12.6.9. Apple Inc
  • 12.6.10. Interactive Communications International, Inc.
  • 12.6.11. Etsy
  • 12.6.12. Visa Inc.
  • 12.6.13. Mastercard Inc
  • 12.6.14. Best Buy Co., Inc.
  • 12.6.15. H & M Hennes & Mauritz AB
  • 12.6.16. Sephora SA
  • 12.6.17. The Home Depot, Inc
  • 12.6.18. Walgreens
  • 12.6.19. Macy's, Inc.
  • 13. Strategic Recommendations
  • 14. Annexure
  • 14.1. FAQ`s
  • 14.2. Notes
  • 14.3. Related Reports
  • 15. Disclaimer

Table 1: Global Gift Card Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Gift Card Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Gift Card Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Gift Card Market Size and Forecast, By Card Types (2018 to 2029F) (In USD Billion)
Table 8: Global Gift Card Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 9: Global Gift Card Market Size and Forecast, By End Users (2018 to 2029F) (In USD Billion)
Table 10: Global Gift Card Market Size and Forecast, By Price Range (2018 to 2029F) (In USD Billion)
Table 11: North America Gift Card Market Size and Forecast, By Card Types (2018 to 2029F) (In USD Billion)
Table 12: North America Gift Card Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 13: North America Gift Card Market Size and Forecast, By End Users (2018 to 2029F) (In USD Billion)
Table 14: United States Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 15: United States Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 16: United States Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 17: Canada Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 18: Canada Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 19: Canada Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 20: Mexico Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 21: Mexico Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 22: Mexico Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 23: Europe Gift Card Market Size and Forecast, By Card Types (2018 to 2029F) (In USD Billion)
Table 24: Europe Gift Card Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 25: Europe Gift Card Market Size and Forecast, By End Users (2018 to 2029F) (In USD Billion)
Table 26: Germany Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 27: Germany Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 28: Germany Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 29: United Kingdom Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 30: United Kingdom Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 31: United Kingdom Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 32: France Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 33: France Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 34: France Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 35: Italy Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 36: Italy Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 37: Italy Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 38: Spain Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 39: Spain Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 40: Spain Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 41: Russia Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 42: Russia Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 43: Russia Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 44: Asia-Pacific Gift Card Market Size and Forecast, By Card Types (2018 to 2029F) (In USD Billion)
Table 45: Asia-Pacific Gift Card Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 46: Asia-Pacific Gift Card Market Size and Forecast, By End Users (2018 to 2029F) (In USD Billion)
Table 47: China Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 48: China Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 49: China Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 50: Japan Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 51: Japan Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 52: Japan Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 53: India Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 54: India Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 55: India Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 56: Australia Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 57: Australia Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 58: Australia Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 59: South Korea Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 60: South Korea Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 61: South Korea Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 62: South America Gift Card Market Size and Forecast, By Card Types (2018 to 2029F) (In USD Billion)
Table 63: South America Gift Card Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 64: South America Gift Card Market Size and Forecast, By End Users (2018 to 2029F) (In USD Billion)
Table 65: Brazil Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 66: Brazil Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 67: Brazil Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 68: Argentina Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 69: Argentina Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 70: Argentina Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 71: Colombia Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 72: Colombia Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 73: Colombia Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 74: Middle East & Africa Gift Card Market Size and Forecast, By Card Types (2018 to 2029F) (In USD Billion)
Table 75: Middle East & Africa Gift Card Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 76: Middle East & Africa Gift Card Market Size and Forecast, By End Users (2018 to 2029F) (In USD Billion)
Table 77: United Arab Emirates Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 78: United Arab Emirates Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 79: United Arab Emirates Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 80: Saudi Arabia Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 81: Saudi Arabia Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 82: Saudi Arabia Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)
Table 83: South Africa Gift Card Market Size and Forecast By Card Types (2018 to 2029F) (In USD Billion)
Table 84: South Africa Gift Card Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 85: South Africa Gift Card Market Size and Forecast By End Users (2018 to 2029F) (In USD Billion)

Figure 1: Global Gift Card Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Gift Card Market Share By Region (2023)
Figure 6: North America Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Gift Card Market Share By Country (2023)
Figure 8: US Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Canada Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: Mexico Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Europe Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: Europe Gift Card Market Share By Country (2023)
Figure 13: Germany Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 14: UK Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 15: France Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 16: Italy Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 17: Spain Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 18: Russia Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 19: Asia-Pacific Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 20: Asia-Pacific Gift Card Market Share By Country (2023)
Figure 21: China Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 22: Japan Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 23: India Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 24: Australia Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 25: South Korea Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 26: South America Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 27: South America Gift Card Market Share By Country (2023)
Figure 28: Brazil Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 29: Argentina Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 30: Columbia Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 31: Middle East & Africa Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 32: Middle East & Africa Gift Card Market Share By Country (2023)
Figure 33: UAE Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 34: Saudi Arabia Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 35: South Africa Gift Card Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 36: Competitive Dashboard of top 5 players, 2023
Figure 37: Market Share insights of key players, 2023
Figure 38: Porter's Five Forces of Global Gift Card Market

Gift Card Market Research FAQs

North America, particularly the United States, is the leading region in the gift card market, followed by Europe and Asia-Pacific. High consumer spending, a strong retail environment, and early digital payment adoption contribute to North America's dominance. However, Asia-Pacific is witnessing rapid growth due to increasing e-commerce and mobile wallet usage.

Key drivers include the shift towards cashless transactions, the rising popularity of e-gift cards, and increasing consumer preference for convenient and versatile gifting options. Corporate adoption for employee rewards and loyalty programs is also a significant contributor to market growth.

The digital transformation has led to a surge in e-gift cards, which can be easily purchased, delivered, and redeemed online. This shift has been accelerated by the rise of e-commerce, mobile payment platforms, and the growing preference for contactless transactions, making digital gift cards more popular than traditional physical ones.

The industry faces challenges such as fraud and security concerns, particularly with digital gift cards. Additionally, the issue of breakage (unredeemed balances) can impact customer satisfaction. Another challenge is maintaining relevance in a competitive landscape with numerous payment and gifting options.

The retail sector is the largest user of gift cards, followed by the hospitality and restaurant industries. Increasingly, businesses are using gift cards for promotional activities, customer incentives, and employee rewards. The popularity of experience-based gift cards (e.g., travel, dining) is also rising as consumers seek unique, memorable gifts.

Key trends include the integration of gift cards with loyalty programs, the rise of personalized and customizable gift cards, and the growing demand for eco-friendly digital and physical gift cards. Additionally, gift cards are increasingly being used as part of buy-now-pay-later (BNPL) strategies and digital wallets.

The COVID-19 pandemic accelerated the shift towards e-gift cards and digital payments, as consumers sought safer, contactless gifting options. Retailers and businesses adapted by promoting e-gift cards, resulting in a significant boost in sales, especially for online and mobile platforms.
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Global Gift Card Market Outlook, 2029

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