Industry Background:
Gift cards also known as a gift voucher or gift token is prepaid stored-value money cards issued by a retailer or bank to be used as an alternative to cash for purchases within a particular store or related businesses. The integrated payment solution is developed to facilitate the transaction at the store or business as an alternative to money. These cards are used during different events such as dining, retail purchase, entertainment, convenience shopping, and others.
According to AMA Research, the market for Gift Cards is expected to register a CAGR of 18.0% during the forecast period to 2030. This growth is primarily driven by Growing Demand for Gift Cards in the Corporate Sector across the Globe
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Dominating Type | Closed Loop |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Givex Corporation (Canada), American Express (United States), Qwikcilver Solutions Pvt. Ltd. (India), Blackhawk Network Holdings, Inc. (United States), First Data Corporation (United States), National Gift Card Corp. (United States), Paytronix Systems, Inc. (United States), Amazon.com, Inc. (United States), InComm, Inc. (United States), Walmart (United States), Google Play (United States) and Starbucks (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2023, Starbucks launched self-service gift card kiosks. These kiosks allow customers to purchase and personalize Starbucks gift cards on-site, offering a more convenient and interactive gifting experience.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Influencing Trend:
Technological Innovation in Product Offerings
Market Growth Drivers:
Growing Demand for Gift Cards in the Corporate Sector across the Globe, Rise in Application Areas Among End Users, Rising Number of Occasions and Growing Popularity of the Gifting Culture and Growing Adoption of Smartphones
Challenges:
Security Related to Contactless Technology
Restraints:
Stringent Government Rules and Regulation
Opportunities:
Robust Technological and Product Development Attracting Number of Consumer and Blockchain Technology Enhancing Security Features
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Gift Cards Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Gift Cards Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Gift Cards players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Gift Cards Study Sheds Light on
The Gift Cards Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Gift Cards industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Gift Cards industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.