Global Gift Card Market: About this market
Technavio’s gift card market analysis considers sales from e-gift cards and physical gift cards. Our study also finds the sales of gift cards in APAC, Europe, North America, South America, and MEA. In 2018, the e-gift segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growth in digitalization across the global retail sector, along with versatility and flexibility will play a significant role in the e-gift segment to maintain its market position. Also, our global gift card market report looks at factors such as growth of e-commerce sector, increase in the gifting culture, and generates favorable rate of return for vendors. However, gift cards may result in additional loss of money, and the growing concern related to the use of plastic may hamper the growth of the gift card industry over the forecast period.
Global Gift Card Market: Overview
Increase in the gifting culture
With the rising number of occasions and the growing popularity of the gifting culture, the demand for gift cards has increased significantly over recent years. The sales of gift cards surge during festivals and other special days, such as Father’s Day and Mother’s Day. Moreover, several organizations recognize their employees’ performance and offer incentives in the form of gift cards. Apart from buying personalized gifts, gift cards can also be used in restaurants, grocery stores, supermarkets, department stores, specialty stores, and cafes. This gifting culture will lead to the expansion of the global gift card market at a CAGR of over 13% during the forecast period.
Launch of new products in gift cards category
Vendors are continuously launching new products to stay ahead in the competitive market. Several entertainment companies are collaborating with technology solutions providers to launch e-gift cards for content across major online and retail marketplaces. Similarly, electronic device manufacturers are partnering with technology solution providers to launch gift card programs on their websites to increase the sales of products such as smartphones, smart devices, televisions, and accessories. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global gift card market during the forecast period 2019-2023, click here.
With the presence of several major players, the global gift card market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gift card manufacturers, that include Blackhawk Network Holdings Inc., DOCUMAX Inc., Fidelity National Information Services Inc., Givex Corp, InComm Holdings Inc., National Gift Card Corp., Plastek Card Solutions, Inc., Qwikcilver Solutions, Pvt. Ltd., Stored Value Solutions, Inc., Village Roadshow Ltd.
Also, the gift card market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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