Gift Cards Global Market Report 2022: Growing Emphasis On Loyalty Management Programs Bodes Well for Inclusion of Gift Cards

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Global Market for Gift Cards

Global Market for Gift Cards

Dublin, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The "Gift Cards - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Gift Cards Market to Reach $1.6 Trillion by 2027

Amid the COVID-19 crisis, the global market for Gift Cards estimated at US$767.4 Billion in the year 2020, is projected to reach a revised size of US$1.6 Trillion by 2027, growing at a CAGR of 11.1% over the period 2020-2027. Retail Closed Loop, one of the segments analyzed in the report, is projected to record a 11.4% CAGR and reach US$410.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Restaurant Closed Loop segment is readjusted to a revised 10% CAGR for the next 7-year period.

The U.S. Market is Estimated at $293.6 Billion, While China is Forecast to Grow at 15.3% CAGR

The Gift Cards market in the U.S. is estimated at US$293.6 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$180.2 Billion by the year 2027 trailing a CAGR of 15.3% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 11.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$143 Billion by the year 2027.

Miscellaneous Closed Loop Segment to Record 9.3% CAGR

In the global Miscellaneous Closed Loop segment, USA, Canada, Japan, China and Europe will drive the 9.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$66.6 Billion in the year 2020 will reach a projected size of US$120.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 10.7% CAGR through the analysis period.

Select Competitors (Total 218 Featured)

• Amazon.com, Inc.

• Apple Inc.

• Best Buy Co., Inc.

• Blackhawk Network Holdings, Inc.

• Edenred

• Global Payments Direct, Inc.

• Gyft, Inc.

• InComm PaymentsT- NGC US, LLC.

• Qwikcilver Solutions Pvt. Ltd.

• Starbucks Corporation

• Target Corporation

• Walmart Inc.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Wedding Gift Cards to Witness Steady Growth Supported by Marriageable Millennials

• Robust Rise of e-Commerce & m-Commerce to Support Market Growth

• Pandemic Fast Forwards eCommerce Growth

• Growing Emphasis On Loyalty Management Programs Bodes Well for Inclusion of Gift Cards

• Global Opportunity for Loyalty Management Translates Into Increased Potential for Reaching Out With Gift CardsCoffee Gift Cards as Top Marketing Tools to Benefit From the Healthy Outlook for Coffee Shops

• Growing Market for Coffee Shops to Expand the Addressable Market Opportunity for Coffee Gift Cards

• E-Gifting Rises in Prominence. Here's Why

• Widespread Adoption of Smartphones Accelerates the Concept of e-Gift Cards

• Global Smartphone Shipments in Million Units: 2016-2021

• Growing Smartphones Addiction Implies Retailers Can Lose No Time in Developing a Strong e-Gifting Strategy: Time Spent on Non Voice Activities on Smartphones by Users in the United States for Years 2019 through 2024

• Rising Demand for Personalized Gift Cards as More Consumers Appreciate Personalization

• Growing Focus on Employee Rewards & Recognition to Spur Demand for Gift Cards

• Gift Cards Emerge as a Popular Marketing Strategy for Restaurants

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/9dluqx

Attachment

• Global Market for Gift Cards

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