25 April 2019 - Global Gift
Card Market is anticipated to witness an exponential growth in the forecast
period. A gift card, also termed as “Gift Certificate”, or “Gift voucher”, is a
prepaid stored-value money card typically issued by a bank or retailer to be
used as a substitute to cash for purchases within a specific store or related
businesses.
The
factors that propel the growth of the market include rising demand for gift
cards among businesses and corporates, extensive acceptance of gift cards among
consumers, soaring acceptance of gift cards as corporate incentives, widespread
desirability of gift card programs among businesses, and improving brand
consciousness and attracting new clients. Gift card market is anticipated to
expand at a significant CAGR of 14.8% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
Market
could be explored by product type, application, industry vertical, and
geography. Market could be explored by product type as E-Gifting, Universal
Accepted Open Loop, Restaurant Closed Loop, Miscellaneous Closed Loop, and
Retail Closed Loop. The “E-Gifting” segment led the gift card market in 2017
and will continue to lead in the forecast period. The key factors that may be
attributed to the growth of the market includes increasing convenience
experienced by the consumers and digital literacy across the globe.
The
key applications that could be explored in the market include Coffee Shop,
Department Store, Restaurant, Entertainment (Music, and Movie) and Other. The
market could be explored based on industry vertical as Corporate and Retail
Institutions. The “Corporate” segment led the market in 2016 and will continue
to lead in the forecast period.
The
market could be explored based on sale channel as online retail stores, bricks
and fintech companies, mortar stores, and other channels. The “Retail store and
Online store” segment led the market in 2015 and will continue to lead in the
forecast period. The key factors that may be attributed to the growth of the market
includes growing inclination of customers towards online retail stores to
simply relate numerous rewards and offers related with gift cards and make
purchase choice in less time.
North
America accounted for the major share of the gift card market in 2016 and will
continue to lead in the forecast period. The factors that could be attributed
to the growth include the high level of digital consciousness among end users
in the region and increasing demand. In addition, intense competition among
gift card issuer is encouraging them to offer gift cards with unique offers to
surge their client base and market share in the gift cards industry. North
America is followed by EMEA and APAC owing to growing demand in emerging
countries, improving lifestyle and increasing disposable income.
Some
of the key players that fuel the growth of the gift card market comprise
Quicksilver Solutions Pvt. Ltd., First Data Corporation, Blackhawk Network
Holdings, Inc., National Gift Card Corp., Duracard, Plastek Card Solutions,
Inc., DOCUMAX INC., Trans Gate Solutions, Tender Card, Vantiv, and others. The
leading companies are taking up partnerships, mergers and acquisitions, and
joint ventures in order to boost the inorganic growth of the industry.
Market Segment:
The various contributors involved in the
value chain of Gift Card include manufacturers, suppliers, distributors,
intermediaries, and customers. The key manufacturers in the Gift Card include
•
epay Worldwide
•
Incomm
•
Blackhawk Network
•
Cashstar
•
iTunes Card Delivery
•
My Gift Card Supply
•
Game Card Delivery
•
Pro Game Cards
•
Cardscode.com
•
Best Buy
•
Gamestop
•
Walmart
•
Sam's Club
•
Target
•
Walgreens
•
CVS
•
Seven Eleven
•
Lowe's
•
Game Stop
•
Home Depot
•
Staples
•
Office Depot
•
Office Max
•
Game Card Delivery
•
NintendoCardDelivery
•
pcgamesupply.com
Market Size Split by Type
•
Open Loop
•
Closed Loop
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