Global Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update: Rising Investments from Leading Players Fuels Growth

Rhea-AI Summary

The Global Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) report highlights a steady growth trajectory in the gift card industry, driven by increased investments from companies like Blackhawk Network and InComm Payments. The digital gift card adoption is surging due to e-commerce trends, expected to grow further in the coming years.

In 2023, the market is projected to reach US$ 511,019.3 million, with a compound annual growth rate (CAGR) of 8.1% anticipated. The report indicates ongoing expansion into markets like Singapore and Malaysia, alongside the rise of cryptocurrency gift cards in the U.S.

Positive

• Projected market growth to reach US$ 511,019.3 million in 2023, with a CAGR of 8.1%.
• Increased investments from key players like Blackhawk Network and InComm Payments support growth.
• Expansion of digital gift card offerings amid rising e-commerce demand.

Negative

• None.

DUBLIN, March 9, 2023 /PRNewswire/ -- The "Global Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update" report has been added to  ResearchAndMarkets.com's offering.

The global gift card industry has recorded steady growth amid the rising investment from leading players such as Blackhawk Network and InComm Payments in the sector. This coupled with the rise of innovative fintech firms has also supported the growth of the gift card sector around the world. With the demand for gift cards expected to further rise among consumers and corporates, the publisher expects these players to further boost their investment in the segment and also forge strategic alliances to drive their growth.

The growing shift towards digital channels has also driven the adoption of digital gift cards globally. The surging e-commerce shopping trends have also assisted the demand among consumers, and the trend is expected to further continue from the short to medium-term perspective. With startups raising funding rounds and expanding their geographical footprint, the publisher maintains a robust growth outlook for the global gift card market over the next three to four years.

Global gift card providers are extending the availability of gift cards in Singapore and Malaysia

With the growing demand for gift cards among consumers in Southeast Asia, global gift card providers are extending the availability of their solution in the Singaporean and Malaysian markets.

For instance, in November 2022, Givex, one of the leading players in the global gift card industry, announced that it had made available gift cards from one of the notable retailers in the United States for consumers in Singapore and Malaysia. The gift card provider has a presence in more than 100 countries and provides support to more than 30 retailers' locations in Singapore, Malaysia, Hong Kong, Korea, and Australia. The firm recorded strong growth in 2022 and is projected to keep continuing the upward growth momentum in 2023.

From the short to medium-term perspective, the firm is expected to further launch its gift card programs in more global markets, thereby supporting the growth of the global gift card market.

Cryptocurrency exchanges are launching bitcoin reward gift cards amid the rising demand in the United States

Gift cards are a popular gifting option in the United States. Furthermore, the trend of self-use is also growing, thereby assisting the growth of the gift card industry in the country. Amid the growing demand for gift cards in the region, cryptocurrency exchanges are launching bitcoin reward gift cards.

In December 2022, CoinZoom, a cryptocurrency exchange and fintech firm based in the United States announced the launch of a new bitcoin reward gift card. The launch of the new solution comes after the firm found out that 28% of adults are buying gift cards more than once. To make the gift card buying process more rewarding, the firm is offering 1% in free bitcoin on each gift card bought on the platform. CoinZoom has partnered with various businesses across industry verticals, travel, food, and gaming, to offer consumers a wide range of gift card options.

The publisher expects more such reward-based gift card programs to launch in the global market. This will keep driving the popularity among consumers as well as bring more business for brands and retailers.

European retailers are forging strategic alliances with leading global payments providers to launch a B2B gift card program

Over the last few years, corporates have increasingly adopted gift cards to reward and incentivize their employees and this trend is projected to further continue in 2023, as employees continue to struggle with the rising cost of living. To tap into the growing B2B gift card market and offer corporates a wide range of gift card options, firms are forging strategic alliances.

In September 2022, Blackhawk Network, one of the leading global branded payments providers, announced that the firm entered into a strategic partnership with Sweden-based retailer H&M. Under the partnership, the two firms launched a B2B gift card program. As part of the program, H&M will join other retailers offering B2B gift cards with Blackhawk Network. These gift cards never expire and cardholders can redeem them at any H&M store in the United States, Canada, and Puerto Rico, as well as at the online store in the United States.

The publisher expects more European retailers to partner with gift card providers to capitalize on the growing B2B gift card market and drive the growth of their business over the next three to four years.

In value terms, the gift card market in Global has recorded a CAGR of 8.0% during 2018-2022. According to the publisher, global gift card industry is expected to grow by 8.1% on annual basis to reach US$ 511,019.3 million in 2023.

The gift card industry in Global will continue to grow over the forecast period and is expected to record a CAGR of 6.9% during 2023-2027. Global Gift card market will increase from US$ 472,764.8 million in 2022 to reach US$ 668,465.5 million by 2027.

This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.

This title is a bundled offering, comprising 1 global, 5 regional and 20 country reports.

• Global Report - Global Gift Card and Incentive Card Market Intelligence (Databook)
• Regional Report 1 - North America
• Europe
• Latin America
• Middle East & Africa
• Asia Pacific
• Country Report 1 - Argentina Gift Card and Incentive Card Market Intelligence (Databook)
• Australia
• Brazil
• Canada
• China
• France
• Germany
• India
• Indonesia
• Italy
• Kenya
• Mexico 
• Nigeria
• Philippines
• Russia
• South Africa
• Thailand
• United Arab Emirates
• United Kingdom
• United States

Scope

• This bundled offering provides the following detailed gift card market opportunity at country level

Total Spend on Gifts

• By Consumer Segment (Retail and Corporate)
• By Product Categories (13 Segments)
• By Retail Sectors (7 Segments)

Gift Card Market Size by KPIs across Consumer Segments

• Gross Load Value
• Transaction Value
• Unused Value
• Average Value Per Transaction
• Transaction Volume
• Average Value of Card Purchased
• Number of Cards

Gift Card Market Size by Consumer Segment

• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size

• By Retail Consumer
• By Retail Purchase Occasion
• By Corporate Consumer
• By Corporate Purchase Occasion
• By Company Size

Gift Card Market Size by Retail Consumer

• By Functional Attribute
• By Occasion
• Festivals & Special Celebration Days
• Milestone Celebration
• Self-Use
• Other
• Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics

• Consumer Purchase Behaviour
• Gift Card Buyer by Age Group
• Gift Card Buyer by Income Level
• Gift Card Buyer by Gender

Gift Card Market Size by Corporate Consumer

• By Functional Attribute
• By Occasion
• Employee Incentive
• Sales Incentive
• Consumer Incentive
• By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers)

• Food & Beverage
• Health, Wellness & Beauty
• Apparel, Footwear & Accessories
• Books & Media Products
• Consumer Electronics
• Restaurants & Bars
• Toys, Kids, and Babies
• Jewelry
• Sporting Goods
• Home & Kitchen Accessories & Appliances
• Travel
• Entertainment & Gaming
• Other

Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)

• Ecommerce & Department Stores
• Restaurants & Bars
• Supermarket, Hypermarket, Convenience Store
• Entertainment & Gaming
• Specialty Stores
• Health & Wellness
• Travel

Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)

• Gift Card Online Sales
• Gift Card Offline Sales
• 1st Party Sales
• 3rd Party Sales
• Sales Uplift

Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:

• Cencosud SA
• Carrefour SA
• Coto CICSA
• MercadoLibre Inc
• Importadora y Exportadora de la Patagonia SA
• Wal-Mart Stores Inc
• Garbarino SA
• Wesfarmers Ltd
• Woolworths Ltd (Australia)
• Metcash Ltd
• Aldi Group
• Harvey Norman Holdings Ltd
• JB Hi-Fi Ltd
• Apple Inc
• Casino Guichard-Perrachon SA
• Natura Cosmeticos SA
• Lojas Americanas SA
• Adeo Groupe
• Magazine Luiza SA
• George Weston Ltd
• Empire Co Ltd
• Costco Wholesale Corp
• Metro AG
• Canadian Tire Corp Ltd
• Home Depot Inc, The
• Liquor Control Board of Ontario
• Hudson's Bay Co
• Home Hardware Stores Ltd
• Best Buy Co Inc
• Alibaba Group Holding Ltd
• JD.com Inc
• Auchan Group SA
• Bailian Group Co Ltd
• Yonghui Superstores Group
• E Leclerc
• ITM Enterprises SA
• Systeme U Centrale Nationale Sa
• Schwarz Beteiligungs GmbH
• Amazon.com Inc
• Edeka Zentral AG & Co KG
• Rewe Group
• dm-Drogerie Markt GmbH & Co KG
• Tengelmann Group, The
• Dirk Rossmann KG
• Globus Holding GmbH & Co
• Inter Ikea Systems BV
• H&M Hennes & Mauritz AB
• Flipkart Online Services Pvt Ltd
• Tata Group
• Future Group
• Reliance Group
• Aditya Birla Group
• K Raheja Corp
• Salim Group
• Trans Retail Indonesia PT
• Matahari Putra Prima Tbk PT
• Sumber Alfaria Trijaya Tbk PT
• Delhaize Group Sa
• Kompas Gramedia Group
• Ace Hardware Corp
• Coop Italia scarl
• CONAD - Consorzio Nazionale Dettaglianti Scrl
• Esselunga SpA
• Selex Gruppo Commerciale SpA
• Gruppo Eurospin
• Crai Secom SpA
• Organizacion Soriana SAB de CV
• Grupo Comercial Chedraui Sa de CV
• Controladora Comercial Mexicana SAB de CV
• Farmacias Similares SA de CV
• Corporativo Fragua Sa de CV
• SM Retail Inc
• Puregold Price Club Inc
• Rustan Group of Cos
• Seven & I Holdings Co Ltd
• Hutchison Whampoa Ltd
• San Miguel Corp
• Magnit OAO
• X5 Retail Group NV
• Dixy Group OAO
• Lenta OOO
• M Video OAO
• DNS Group
• Shoprite Holdings Ltd
• Pick 'n' Pay Stores Ltd
• Internationale Spar Centrale BV
• Woolworths Holdings Ltd (South Africa)
• Tesco Plc
• Central Retail Corp
• Home Product Center PCL
• Mall Group Co Ltd, The
• Charoen Pokphand Group
• Consumer Co-operative Union (CCU)
• Landmark Group
• Emke Group
• Damas International Ltd
• T Choithram & Sons
• Sharaf DG LLC
• Associated British Foods Plc
• Next Plc
• J Sainsbury Plc
• TJX Cos Inc, The
• Wm Morrison Supermakets Plc
• Kroger Co
• Target Corp
• Albertson's Inc

Reasons to buy

• In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2018-2027) for gift cards and incentive cards.
• Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
• Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
• Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
• Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.

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

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FAQ

What is the projected growth of the gift card market in 2023?

The gift card market is projected to reach US$ 511,019.3 million in 2023, representing a growth rate of 8.1%.

Which companies are driving growth in the gift card market?

Leading players like Blackhawk Network and InComm Payments are significantly investing and driving growth in the gift card sector.

What is the anticipated compound annual growth rate (CAGR) for the gift card market from 2023 to 2027?

The gift card market is expected to record a CAGR of 6.9% from 2023 to 2027.

What trends are influencing the global gift card market?

The shift towards digital channels, increased e-commerce shopping, and the introduction of cryptocurrency reward gift cards are influencing market growth.

How is the gift card market expanding in Southeast Asia?

Global gift card providers are extending their offerings in Singapore and Malaysia due to rising consumer demand in Southeast Asia.