Gift Cards Market - By Type (Closed-loop Gift Cards, Open-loop Gift Cards), By Distribution Channel (Online, Offline), By Form (Virtual, Physical), By Ability to Reload, By Application, By End User & Forecast, 2024 - 2032
Published Date: December - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGift Cards Market - By Type (Closed-loop Gift Cards, Open-loop Gift Cards), By Distribution Channel (Online, Offline), By Form (Virtual, Physical), By Ability to Reload, By Application, By End User & Forecast, 2024 - 2032
Gift Cards Market - By Type (Closed-loop Gift Cards, Open-loop Gift Cards), By Distribution Channel (Online, Offline), By Form (Virtual, Physical), By Ability to Reload, By Application, By End User & Forecast, 2024 - 2032
Gift Cards Market Size
Gift Cards Market was valued at USD 534.4 billion in 2023 and is estimated to grow at a CAGR of over 20% between 2024 and 2032.
The gift card market is expanding globally due to rising consumer demand for flexible and convenient giving options. Gift cards allow recipients to select their preferred products or services, making them a popular alternative to traditional gifts.
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For instance, in June 2024, Google Wallet partnered with Pine Labs to help manage gift cards within an app. This partnership came nearly three weeks after Google announced the launch of its digital wallet application in India. Through a partnership with Pine Labs, Google Wallet users can store and manage their gift cards within the app. The application will prompt customers to use their gift cards at the point of purchase.
This adaptability is especially appealing in a global market where consumer preferences are diverse and continuously changing. The emergence of e-commerce and digital payment platforms has considerably aided the gift card market growth. The simplicity of acquiring and delivering digital gift cards online corresponds with modern consumer behavior, which stresses ease of use and immediate reward. Significant technological improvements and the widespread use of mobile devices are also driving growth in the worldwide gift card market.
The integration of gift cards with mobile wallets and apps has made it easier for customers to maintain and redeem their cards, improving the user experience and increasing adoption rates. Blockchain technology is emerging as a means of improving the security and transparency of gift card transactions, thereby mitigating fraud and misuse.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Gift Cards Market Size in 2023 | USD 534.4 Billion |
| Forecast Period | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR | 20% |
| 2024 – 2032 Value Projection | USD 4 Trillion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 210 |
| Tables, Charts & Figures | 454 |
| Segments covered | Type, Distribution Channel, Form, Reloadability, Application, End User |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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The gift card industry has significant challenges in terms of fraud and security. Fraudulent activities, such as card cloning, illegal access, and phony gift card frauds, can erode customer confidence and cause financial losses for both consumers and businesses. Addressing these concerns necessitates investments in advanced security measures, such as encryption and real-time monitoring, which can be costly and difficult to implement. Without effective security standards, the legitimacy of gift cards might be undermined, thereby preventing consumers and businesses from engaging in the market.
Gift card regulations vary per country, including issue, expiration, and taxation. Companies that operate in different regions must ensure that they follow local laws, which might require significant legal and administrative resources. Noncompliance with these regulations can lead to penalties, legal challenges, and reputational damage. This regulatory complexity can impede market expansion and raise operating expenses, making it challenging for enterprises to scale their gift card products abroad.
Gift Cards Market Trends
Gift cards have gone digital and mobile, making them easier and faster to use. You can even add personal touches like custom messages and fun graphics. Plus, blockchain tech makes them super secure, reducing the chances of fraud. These digital cards are also getting greener, with options made from eco-friendly materials. And they're not just for shopping anymore! Businesses are using them to reward customers and boost sales. Gift cards are also now global, so you can use them in different countries and currencies. And with the rise of virtual experiences and subscription services, they're becoming even more popular.
In September 2023, in India, the Government-backed Open Network for Digital Commerce (ONDC) introduced the "ONDC Network Gift Card." This network-level gift card can be utilized by companies for corporate gifting and employee engagement in anticipation of the upcoming festive season.
Gift Cards Market Share
Amazon is the gifting card monolith, sporting a massive hunk of nearly 40% of the action. It's as if they're Willy Wonka to gift cardsa colossal facility producing bottomless goodies. Amazon is popular to buy gift cards from for several reasons. Certainly, they haven't forgotten about the ticket of gold to pleasure (i.e., heaps and heaps of product to choose among). It's also because they're like super-flexible ninjas of gift cards that can procure you anything from a new computer to a warm sweater or even food and digital treats. Talk of versatility! Shopping and spending Amazon gift cards is as simple as pie. You can do everything online, so no need to get out of your couch. And then there are delivery options, such as sending it directly to a person's inbox, or sending a printed card that you can wrap all pretty. It's a gift that keeps on giving! And don't even get started on businesses. Amazon gift cards are the ultimate employee incentive or promotional device. They're like magic wands that can create morale and start conversations. And so, it's done. Amazon's dominance of the gift card market is a chocolate river that flows eternally through a candy wonderland.
Gift Cards Market Analysis
Learn more about the key segments shaping this market
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Based on type, the market is divided into closed-loop gift cards, and open-loop gift cards. The closed-loop gift cards segment is expected to reach a value over USD 2 trillion by 2032.
- Closed-loop gift cards are typically issued by a specific retailer or group of retailers and are restricted to use within their establishments. This type of gift card promotes customer loyalty and ensures repeat business within the issuing retailer's ecosystem. Customers often purchase closed-loop gift cards for convenience and as gifts, providing recipients with the flexibility to choose products or services from a preferred retailer without the need for cash transactions.
- The closed-loop gift card market's expansion is further propelled by advancements in digital technology, enabling seamless integration of gift card functionalities into mobile apps and online platforms. This enhances accessibility and ease of use for both consumers and retailers, fostering a robust ecosystem for gift card transactions.
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Based on distribution channel, the market is divided into online, and offline. The online segment dominated and is expected to grow at a rate of over CAGR 25% during the forecast period.
- Online platforms offer unparalleled convenience for purchasing and redeeming gift cards. Consumers can browse, select, and send digital gift cards from the comfort of their homes or on-the-go via mobile devices. This convenience aligns with modern lifestyles where digital transactions are preferred for their speed and ease.
- The proliferation of e-commerce platforms has streamlined the integration of gift card functionalities. Online retailers can seamlessly incorporate gift cards into their checkout processes, offering customers a versatile gifting option alongside product purchases. This integration boosts sales and enhances customer retention strategies.
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North America dominated the global gift cards market in 2023, accounting for a share of over 30%. High consumer purchasing power and a strong gift-giving culture drive market growth in North America. The region's sophisticated digital infrastructure and broad use of e-commerce platforms make it easier for customers to buy and utilize gift cards. Furthermore, the presence of multiple large stores and technology companies that provide different and enticing gift card possibilities increases market value. Corporate usage of gift cards for staff awards and consumer loyalty programs is also widespread, fueling demand.
Gift cards are a popular choice for a variety of events as Americans value the flexibility and convenience they provide. The U.S. also has a big number of large shops and technology companies that offer a diverse range of gift card possibilities, increasing customer attractiveness. Corporate use of gift cards for staff awards and consumer loyalty programs is widespread, contributing to market growth. Developments in mobile wallet integration and increased security measures further increase the utility and attractiveness of gift cards, cementing the U.S. as a prominent player in the worldwide gift card market.
Hey there, the gift card scene in China is booming like crazy! It's all thanks to their booming online world and everyone having more money to spend. Since a lot of Chinese people are tech-savvy, digital gift cards and online shopping are all the rage these days. They're super easy and convenient, making them a great way to show someone you care. People love using these gift cards to buy stuff online, eat out, or have some fun. Plus, with apps like Alipay and WeChat Pay, using these digital gift cards is a breeze. It's like having your gift card right in your pocket! Companies are also getting creative with their gift cards, making them more personal and fun for different holidays and events. And that's just making the gift card market in China grow even faster. So, if you're looking for a great gift idea in China, definitely consider a gift card!
In May 2024, InComm Payments, a global payments technology provider, announced the launch of Roblox gift cards at both online and physical retailers in Hong Kong. This introduction marked the first time Roblox gift cards are available for purchase in the Hong Kong market, offering access to the popular online immersive platform where millions of people connect and communicate daily.
The gift cards market in South Korea is quickly developing, owing to the country's sophisticated retail sector and strong smartphone penetration rates. South Korean customers, known for their love of technology and convenience, are adopting digital gift cards as an alternative to traditional gifts. Major retail chains and entertainment venues provide a comprehensive choice of gift card alternatives to attract a wide range of customers. The incorporation of gift cards into mobile payment apps and reward programs improves their attractiveness and usability.
In Japan, gift-giving is a revered custom that's embracing the modern world. We adore the convenience of gift cards, particularly the digital kind that we can snap up and use with a few taps on our phones or computers. From department stores to convenience shops, you'll find a whole spectrum of gift cards to match every taste. And here's the cool partthese cards are often linked to loyalty programs and partner with popular brands, making them even more sought-after as presents. While cash is still the go-to in some traditional situations, the surge in digital payments and online shopping is making gift cards a popular choice in Japan's ever-evolving retail landscape.
Gift Cards Market Share
Amazon is the king of the gift card world, with an impressive slice of over 40%. It's like they're the Willy Wonka of gift cards, with a huge factory churning out endless treats. Why is Amazon so popular for gift cards? Well, it's not just because they've got the golden ticket to happiness (i.e., tons of products to choose from). It's also because their gift cards are like super-flexible ninjas that can buy you anything from a new laptop to a cozy sweater or even groceries and digital goodies. Talk about versatility! Buying and using Amazon gift cards is as easy as pie. You can do it all online, so no need to leave the comfort of your couch. Plus, they've got all kinds of delivery options, like sending it straight to someone's inbox, or mailing a physical card that you can wrap up all pretty. It's like the gift that keeps on giving! Oh, and don't forget about businesses. Amazon gift cards are the ultimate employee reward or promotional tool. They're like magic wands that can boost morale and get people talking. So, there you have it. Amazon's dominance in the gift card industry is like a chocolate river flowing endlessly through a candy wonderland.
Gift Cards Market Companies
Major players operating in the gift cards industry are
- Amazon.com Inc.
- American Express Company
- Blackhawk Network
- Fiserv, Inc.
- Givex Corporation
- InComm Payment LLC
Gift Cards Industry News
- In December 2023, Pine Labs' Qwikcilver, a prominent provider of comprehensive gift card and stored value solutions across Southeast Asia and India, teamed up with foodpanda, Asia's largest food and grocery delivery network (excluding China), to introduce foodpanda Gift Cards. This enhanced offering allowed foodpanda customers to conveniently redeem and complete their purchases.
The gift cards market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2021 to 2032, for the following segments
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Market, By Type
- Closed-loop gift cards
- Open-loop gift cards
Market, By Distribution Channel
- Online
- Offline
Market, By Form
- Virtual
- Physical
Market, By Ability to Reload
- Non-reloadable gift cards
- Retail gift cards
- Promotional cards
- Incentive cards
- Reloadable gift cards
- General Purpose Reloadable Cards (GPR)
- Corporate/Business cards
- Teen and student cards
Market, By Application
- Personal finance
- Marketing & promotions
- E-commerce
- Fashion & lifestyle
- Grocery & supermarket
- Gaming & entertainment
- Online streaming
- Hospitality & travel
- Dining & restaurant
- Travel & hotel
- Spa & wellness
- Education
- Non-profit & charity
- Other applications
Market, By End User
- Retail consumers
- Corporate institutions
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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