Published by Coherent Market Insights
Posted on September 20, 2021
A gift card is also referred to as gift vouchers that enable the users to receive services or products from malls, shopping center, showroom etc. These coupons are basically provided by merchant establishment, banks, and big organization of a particular product or service in the form of a festival offer. This card makes modes of transaction easy for the user and also reduce the cost of printing bills. Gift card service makes the system more secure and traceable as compared to cash payment, for instance, gift cards consist of the PIN for transaction and even if it is misplaced, it will not be an issue because it can be blocked.
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The global gift card market is projected to reach around US$ 900 billion by the end of 2027, in terms of revenue, growing at CAGR of 10% during the forecast period (2019-2027).
Drivers
Increasing penetration of smartphones coupled with the affordable data plans has increased the adoption of m-Commerce is projected to foster the market growth of gift cards. Consumers are rapidly downloading mobile apps such as Flipkart, Amazon, and eBay for online shopping as it offers the ability to browse more quickly and easily make purchases on-the-go is resulting in a growing number of consumers using online purchases. This factor is expected to propel the market growth of gift cards over the forecast period.
Market Opportunities
The growing popularity of digital gift cards which is attracting customers is projected to foster the market growth of gift cards. Digital gift cards offer companies to track a consumer’s buying behavior and use of redeem gift cards by the customer, which provide accurate information. Therefore, the digital gift card provides marketers to record data of the user as well as the receiver which can be used in personalize future promotions. This factor is estimated to augment the market growth of digital gift cards.
Market Trends
The growing trend of using closed-loop gift cards as it has a prepaid amount is fueling the market growth of gift cards. Despite the easy availability of universal or open-loop gift cards, consumers still prefer closed-loop specialty gift cards as it is a convenient option during heavy sales shopping months and also allow consumer for personal use. Closed-loop gifts cards offer specialty gift cards, which enable users to plan their spending budget in a particular store. This factor is expected to foster the market growth of gift cards.
Competitive Section
Key players operating in global gift card market are Apple Inc., Amazon.com Inc., Best Buy Co., Inc., Starbucks Corporation, Target Corporation and Wal-Mart Stores, Inc.
Great savings for you 2000$ Discount On Report: https://www.coherentmarketinsights.com/insight/request-discount/3444
Few Recent Developments
Blackhawk Network Holdings, Inc.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Gift Card Market Is Projected To Reach Around Us$ 900 Billion By The End Of 2027 appeared first on Gatorledger.
A gift card is also referred to as gift vouchers that enable the users to receive services or products from malls, shopping center, showroom etc. These coupons are basically provided by merchant establishment, banks, and big organization of a particular product or service in the form of a festival offer. This card makes modes of transaction easy for the user and also reduce the cost of printing bills. Gift card service makes the system more secure and traceable as compared to cash payment, for instance, gift cards consist of the PIN for transaction and even if it is misplaced, it will not be an issue because it can be blocked.
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/3444
The global gift card market is projected to reach around US$ 900 billion by the end of 2027, in terms of revenue, growing at CAGR of 10% during the forecast period (2019-2027).
Drivers
Increasing penetration of smartphones coupled with the affordable data plans has increased the adoption of m-Commerce is projected to foster the market growth of gift cards. Consumers are rapidly downloading mobile apps such as Flipkart, Amazon, and eBay for online shopping as it offers the ability to browse more quickly and easily make purchases on-the-go is resulting in a growing number of consumers using online purchases. This factor is expected to propel the market growth of gift cards over the forecast period.
Market Opportunities
The growing popularity of digital gift cards which is attracting customers is projected to foster the market growth of gift cards. Digital gift cards offer companies to track a consumer’s buying behavior and use of redeem gift cards by the customer, which provide accurate information. Therefore, the digital gift card provides marketers to record data of the user as well as the receiver which can be used in personalize future promotions. This factor is estimated to augment the market growth of digital gift cards.
Market Trends
The growing trend of using closed-loop gift cards as it has a prepaid amount is fueling the market growth of gift cards. Despite the easy availability of universal or open-loop gift cards, consumers still prefer closed-loop specialty gift cards as it is a convenient option during heavy sales shopping months and also allow consumer for personal use. Closed-loop gifts cards offer specialty gift cards, which enable users to plan their spending budget in a particular store. This factor is expected to foster the market growth of gift cards.
Competitive Section
Key players operating in global gift card market are Apple Inc., Amazon.com Inc., Best Buy Co., Inc., Starbucks Corporation, Target Corporation and Wal-Mart Stores, Inc.
Great savings for you 2000$ Discount On Report: https://www.coherentmarketinsights.com/insight/request-discount/3444
Few Recent Developments
Blackhawk Network Holdings, Inc.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Gift Card Market Is Projected To Reach Around Us$ 900 Billion By The End Of 2027 appeared first on Gatorledger.
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