Gift Cards Market: By Functional Attribute (Open Loop, Closed Loop), By Industry Vertical (Retail, Corporate Institutions), By Merchant (Restaurants, Departmental Stores, Grocery Store/Food Supermarkets, Discount Stores, Coffee Shops, Entertainment, Others), By Products (E- Gift Cards, Physical Cards) and Geography    

Purchase Option

$ 4400
$ 6600
$ 8900

Gift Cards Market is valued at USD 414.2 billion in 2022 and is poised to grow at a significant CAGR of 1.9% from 2023-2029. They are increasing in demand for improved products and technology improvements linked with payment solutions in recent years. As a result of the COVID-19 epidemic, the gift card industry has changed. The disparity between virtual and actual gift card penetration is narrowing. As a result, the focus of innovation has switched to digital cards (also known as e-cards) and e-gifting. Many business sectors are becoming increasingly imaginative in their ways of expanding their operations due to increased economic challenges. In this instance, gift cards are likely to be utilized as a promotional tool. For companies like restaurants and cafeterias, gift cards are considered an essential source of immediate cash. The key growth factors of the market include consistent consumer engagement with shopping, owing to rapid expansion in digital commerce and an increase in the number of new technologies that provide customers with creative and smooth payment options.

Furthermore, as technology improves gift cards, businesses can enhance sales by making their product offerings more unique and appealing, moving the gift cards market ahead. Also, gift cards are an excellent way for companies to show their appreciation for their employees. This type of workplace acknowledgment promotes diversity and inclusion. Gift cards assist merchants, and marketers raise brand exposure, increasing holiday sales, improving customer interaction, producing meaningful customer behavioral data, simplifying distribution, and enhancing cash flow. Due to millennial brides' growing propensity for online purchases, E-gift cards are becoming a significant business. Wedding e-gift cards are becoming more popular as internet-savvy women get more comfortable online shopping. With consumers appreciating the many benefits of gift cards, selling gift cards is emerging as a new sales flavor in online retail. Furthermore, during the forecast period, the increased use of smartphones and digital wallets is likely to provide the gift cards market chances.

Gift Card Market Key Developments:

  • In June 2021, LIC Card Services entered into a strategic partnership with IDBI Bank to launch a contactless prepaid gift card Shagun for consumers in India. Through the launch of this prepaid gift card solution, LIC Card Services is foraying into the high-growth Indian digital gift card market.
  • In September 2021, Qwikcilver, one of the leading gift card providers in India, entered into a strategic partnership with Vistara. Under the collaboration, Vistara is launching a Purple Ticket, a new gift card for travel on Vistara, which can be used by individual consumers as well as for corporate gifting in India. Customers can use the gift card solution either for booking their tickets or for additional services such as seat booking, excess baggage, and lounge access.

Gift Card Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

1.9%

Largest Market

North-America

Fastest Growing Market

Europe
Gift Card Market Dynamics

Rise in demand for improved payment options, high adoption rate of smartphones, and increase in demand for creative products drive the growth of the global digital gift cards market. However, a lack of security stifles industry expansion. The rise in demand for digital gift cards in underdeveloped countries, on the other hand, promises fresh potential in the coming years.

Key Features of the Reports

  • Global gift card market expanding at significant CAGR over 2023-2029 owing to increased popularity among the consumers.
  • Based on application, departmental store segment accounted for larger market revenue share in 2021 and projected gain market revenue share over the forecast period
  • Players focusing on innovation of newer products and collaboration strategies to retain market position in global gift card market

Gift Card Market Segmentation

By Type
  • Universal Accepted Open Loop
  • Sports Gift Card
  • E-Gifting
  • Restaurant Closed Loop
  • Retail Closed Loop
  • Miscellaneous Closed Loop
By Application
  • Restaurant
  • Department Store
  • Coffee Shop
  • Entertainment (Movie, Music)
  • Others
By Geography

North America

  • USA
  • Canada

Europe

  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • Australia & New Zealand
  • ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

Middle East and Africa (MEA)

  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA

 

 

Frequently Asked Questions

The Gift card market size was valued at USD 414.2 billion in 2022.

The Gift card market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

The Gift card market key players are First Data Corporation, QwikCilver Solutions Pvt. Ltd., National Gift Card Corporation, Blackhawk Network Holdings, Inc., Plastek Card Solutions, Inc., Duracard Documax Inc., Vantiv, Inc. (Worldpay, Inc.), TenderCrop LLC., TransGate Solutions

  1. Executive Summary
  2. Global Gift Card Market Introduction
    • Global Gift Card Market - Taxonomy
    • Global Gift Card Market -Definitions
      • By Type
      • By Application
  1. Global Gift Card Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Gift Card Market Dynamic Factors - Impact Analysis
    • Global Gift Card Market - Competition Landscape
  2. Global Gift Card Market Analysis, 2018-2022 and Forecast, 2023-2029
    • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  3. Global Gift Card Market, By Type, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • Universal Accepted Open Loop
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Sports Gift Card
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • E-Gifting
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Restaurant Closed Loop
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Retail Closed Loop
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Miscellaneous Closed Loop
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Gift Card Market, By Application, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • Restaurant
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Department Store
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Coffee Shop
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Entertainment (Movie, Music)
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Gift Card Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Gift Card Market - Opportunity Analysis Index, By Type, Application, and Region, 2023-2029
  2. North America Gift Card Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Universal Accepted Open Loop
      • Sports Gift Card
      • E-Gifting
      • Restaurant Closed Loop
      • Retail Closed Loop
      • Miscellaneous Closed Loop
    • Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Restaurant
      • Department Store
      • Coffee Shop
      • Entertainment (Movie, Music)
      • Others
    • Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • US.
      • Canada
    • North America Gift Card Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029
    • North America Gift Card Market Dynamics - Trends
  3. Europe Gift Card Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Universal Accepted Open Loop
      • Sports Gift Card
      • E-Gifting
      • Restaurant Closed Loop
      • Retail Closed Loop
      • Miscellaneous Closed Loop
    • Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Restaurant
      • Department Store
      • Coffee Shop
      • Entertainment (Movie, Music)
      • Others
    • Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Gift Card Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029
    • Europe Gift Card Market Dynamics - Trends
    • Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Universal Accepted Open Loop
      • Sports Gift Card
      • E-Gifting
      • Restaurant Closed Loop
      • Retail Closed Loop
      • Miscellaneous Closed Loop
    • Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Restaurant
      • Department Store
      • Coffee Shop
      • Entertainment (Movie, Music)
      • Others
    • Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Gift Card Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029
    • Asia-Pacific Gift Card Market Dynamics - Trends
  4. Latin America Gift Card Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Universal Accepted Open Loop
      • Sports Gift Card
      • E-Gifting
      • Restaurant Closed Loop
      • Retail Closed Loop
      • Miscellaneous Closed Loop
    • Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Restaurant
      • Department Store
      • Coffee Shop
      • Entertainment (Movie, Music)
      • Others
    • Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Latin America Gift Card Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029
    • Latin America Gift Card Market Dynamics - Trends
  5. Middle East and Africa Gift Card Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
    • Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Universal Accepted Open Loop
      • Sports Gift Card
      • E-Gifting
      • Restaurant Closed Loop
      • Retail Closed Loop
      • Miscellaneous Closed Loop
    • Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Restaurant
      • Department Store
      • Coffee Shop
      • Entertainment (Movie, Music)
      • Others
    • Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Gift Card Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029
    • MEA Gift Card Market Dynamics - Trends
  6. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Product Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • First Data Corporation
      • QwikCilver Solutions Pvt. Ltd.
      • National Gift Card Corporation
      • Blackhawk Network Holdings, Inc.
      • Plastek Card Solutions, Inc.
      • Duracard, Documax Inc.
      • Vantiv, Inc. (Worldpay, Inc.)
      • (TenderCrop, LLC.)
      • TransGate Solutions
  1. Research Methodology
  2. Key Assumptions and Acronyms
  • First Data Corporation
  • QwikCilver Solutions Pvt. Ltd.
  • National Gift Card Corporation
  • Blackhawk Network Holdings, Inc.
  • Plastek Card Solutions, Inc.
  • Duracard
  • Documax Inc.
  • Vantiv, Inc. (Worldpay, Inc.)
  • TenderCrop, LLC.
  • TransGate Solutions

Adjacent Markets