A recent report published by Infinium Global Research on the gift
cards market provides an in-depth analysis of segments and sub-segments in the
global as well as regional gift cards market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
gift cards market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global gift
cards market. According to the report, the global gift cards market is
projected to grow at a healthy CAGR over the forecast period of 2020-2026.
The use of modern technology and marketing strategies has created
different ways for gift card lovers and smartphone users to integrate
everything into one convenient package. The current concern over the spread of
coronavirus is expected to have a moderate impact on the gift cards market. The
growth of the gift card industry is estimated to be impacted because of the
loss of purchasing power and several socio-economic environments generated by
the novel coronavirus. Yet, the COVID-19 pandemic has definitely impacted the
growth of the e-commerce business, a trend which will be continuous in the
coming quarters as lockdown reductions upsurge. Hence, this is anticipated to
drive demand for gift cards market.
have become more innovative with the rapid development of smartphones. The
increased adoption of smartphones is anticipated to boost the gift cards market
by offering a flexible & convenient way of payment for the customers. In
addition, the gift cards market is projected to experience significant growth
during the projection period, owing to technological innovation in product
offerings and an upsurge in application areas such as hospitality, banking, and
retail stores. Gift cards contain prepaid stored-value money cards dispensed by
a retailer or bank to be used as an alternative to cash for purchases within a
definite store or associated trades. These cards are used during diverse events
such as dining, retail purchase, entertainment, convenience shopping, and others.
an increase in the need for advanced promotional strategies, a high adoption
rate of smartphones, and growth-related to the e-commerce industry drive the
global gift cards market. In addition, an increase in the popularity of these
cards during traveling and upsurge in demand for gift cards from developing
countries is anticipated to boost the market growth in the near future. On the other hand, numerous types of fees associated with card transaction and the
dearth of security measures as compared to credit or debit cards are major
limitations that hamper the growth of the market.
Among the geographies, North America region is expected to hold
the largest share in the global gift cards market as countries such as the U.S.
and Canada is the front-runners in adopting new technology. Further, factors
such as the favorable rate of return generated for vendors will significantly
influence gift cards market growth in the North American region. Furthermore,
the Asia Pacific region is anticipated to witness high growth during the
forecast period owing to the rising adoption of digital services in emerging
economies such as China and India. An increase in demand for advanced products and
technological advancements associated with payment solutions are the factors
responsible for the growth of the market.
The report on the global gift cards market covers segments such as
type, and end-user. On the basis of type, the sub-markets include open loop
gift card, and closed loop gift card. On the basis of end-user, the sub-markets
include retail establishments, and corporate institutions.
The report provides profiles of the companies in the market such
as Amazon.com, Inc., American Express, Blackhawk Network Holdings, Inc., First
Data Corporation, Fiserv, Inc., Givex Corporation, InComm Inc., Qwikcilver
Solutions Pvt Ltd, NGC US, LLC, and Paytronix Systems, Inc.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of gift cards
market. Moreover, the study highlights current market trends and provides
forecast from 2020-2026. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.