Gift Card Market Report By Types, Applications, Players And Regions 2027

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.

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).

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.

The growing popularity of e-commerce that enables the user to use gift cards easily and exploring more products with easy purchases is projected to foster the market growth of gift cards. Moreover, online payment offer consumers to choose between digital and physical gift cards during online purchases. Furthermore, easy purchasing option for gift card online is another major factor attracting consumer to use online purchase thus fueling demand for gift cards which in turn driving the market growth.

Request For Sample Copy of this Report : https://www.coherentmarketinsights.com/insight/request-sample/3444

The gift card market has witnessed significant growth in recent past years, owing to the rise in adoption of gift card across the corporate sector for offering incentives to recognizing employees achievement is expected to fuel the demand for gift cards. On the basis of gift card type, the restaurant closed loop, is estimated to drive the growth in the market share, owing to the adoption of gift cards among customers as a form of rewards.

E-commerce websites such as Amazon, Flipkart, Alibaba, eBay and others offer customers gift cards, which is augmenting the growth of the global gift card market. Moreover, the growing penetration of internet and smartphones is making the access the e-commerce websites much easier as well as provide customers with a wide range of product range.

Detailed Segmentation:

Global Gift Card Market, By Type:
Universal accepted open loop
Restaurant closed loop
Retail closed loop
Miscellaneous closed loop
E-Gifting

Global Gift Card Market, By Merchant:
Restaurant
Department store
Grocery stores/food supermarket
Discount store
Coffee shop
Entertainment
Others

Request Discount of This Report:
https://www.coherentmarketinsights.com/insight/request-discount/3444

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.

Contact Us:
Name: Mr. Shah
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com
Visit Our Blogs: https://blog.coherentmarketinsights.com

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.