Europe Digital Gift Card Market Report 2022: Sector to Grow by 13.5% Annually Through 2028
Dublin, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The "Europe Digital Gift Card Market Size, Share & Industry Trends Analysis Report By Functional Attribute (Closed-loop Card and Open-loop Card), By End User (Retail and Corporate), By Application, By Country and Growth Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Europe Digital Gift Card Market should witness market growth of 13.5% CAGR during the forecast period (2022-2028).
Digital cards may assist companies that have both a physical location and an online site in increasing their local presence. For instance, if your brick-and-mortar business is near someone, they may be informed when you have a deal if they use digital cards on the website.
Brand Awareness is a key advantage of digital gift cards. It's extremely likely that the recipient of the gift card has never heard of the company. With a gift card, they may test out your goods and get more understanding of your company. If the receiver like your products, there is a potential that he or she would purchase a comparable gift card for a friend or family member, increasing company recognition.
Gift cards and vouchers were sold as presents in UK retail establishments for around £2.5 billion in 2013, while companies spent another £2.25 billion on them as employee or client incentives. The gift card and voucher sector expanded by 10% in the third quarter of 2014, according to a UKGCVA study. The current market value of the UK industry is £5 billion.
The Germany market dominated the Europe Digital Gift Card Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $48, 174.4 Million by 2028.The UK market is anticipated to grow at a CAGR of 12.5% during (2022-2028). Additionally, The France market would exhibit a CAGR of 14.3% during (2022-2028).
Scope of the Study
By Functional Attribute
Health & Wellness
Restaurants & Bars
Travel & Tourism
Media & Entertainment
Rest of Europe
Key Market Players
PayPal Holdings, Inc.
Target Corporation (Target Brands, Inc.)
Loop Commerce, Inc (Synchrony Financial)
Blackhawk Network Holdings, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rebjk7-digital?w=12
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