The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the gift cards market. It is typically calculated as a percentage of overall sales for the business (e.g., 3% of company revenue results from gift card activations) or percentage increase from the prior year. This growth is by large contributed by the growing popularity of gift cards in the corporate sector. By end user, it is bifurcated into retail establishment and corporate institutions. However, ensuring secure management & privacy of consumer data is one of the major factors that limit the market growth. Credit Card Fraud Statistics(Updated January 2021) Quick Credit Card Theft statistics In 2018, $24. All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. This growth is supported by presence of untapped demands and surge in need for better transactional solutions in countries such as China, Japan, and Australia. Gift cards, also known as gift certificates, gift vouchers, or gift tokens, are generally issued by a retailer or bank. Here are more enlightening statstics about Gift Cards! For those who don’t know what to get their loved ones, there are always gift cards — and some 15% of shoppers are planning to give them as gifts. In the US, people mostly spend on a gift for a girlfriend ($126.31), a wife ($122.43), a husband ($56.09), and a boyfriend ($50.65) but also on other family members ($41.35), a friend ($28.62), and a pet dog ($17.37), according to the same source. DID YOU MISS ANYTHING? Gift card fraud is between 1% and 4% … 2. DO YOU HAVE SPECIFIC REQUIREMENTS? This means that overall the UK is planning to spend £24.2 billion on festive gifts this year. Learn more ‘Stockpiling’ Options. How Gift Card Scams Are Used to Finance Fraud Difficult-to-trace funds make cards an easy choice for scammers. Gift cards are a multi billion dollar industry and it's only growing! Wallet News Blog Studies & Statistics Calculators Ad Disclosure . 3 Some 87 percent of consumers say merchant-specific gift cards are easy to use. Moreover, a gift card can be utilized as an alternative source for money at a particular store or business store for purchases related to goods or services. unsecured lending, (including lending via credit cards, personal loans and car loans). That’s right, £7,000,000,000. According to the Worldpay’s 2018 survey report, gift cards contribute 2% of e-commerce and 1% of point of sale (POS) spend globally. All Rights Reserved, Author(s) : Aarti Goswami, Pramod Borasi , Vineet Kumar, 3.4.1.1.Rise in demand for advanced payment solutions, 4.2.1.Key market trends, growth factors, and opportunities, 4.3.1.Key market trends, growth factors, and opportunities, 5.2.1.Key market trends, growth factors, and opportunities, 5.3.1.Key market trends, growth factors, and opportunities, 6.2.1.Key market trends, growth factors, and opportunities, 6.2.4.1.1.Market size and forecast, by card type, 6.2.4.2.1.Market size and forecast, by card type, 6.3.1.Key market trends, growth factors, and opportunities, 6.3.4.1.1.Market size and forecast, by card type, 6.3.4.2.1.Market size and forecast, by card type, 6.3.4.3.1.Market size and forecast, by card type, 6.3.4.4.1.Market size and forecast, by card type, 6.3.4.5.1.Market size and forecast, by card type, 6.3.4.6.1.Market size and forecast, by card type, 6.3.4.7.1.Market size and forecast, by card type, 6.3.4.8.1.Market size and forecast, by card type, 6.4.1.Key market trends, growth factors, and opportunities, 6.4.4.1.1.Market size and forecast, by card type, 6.4.4.2.1.Market size and forecast, by card type, 6.4.4.3.1.Market size and forecast, by card type, 6.4.4.4.1.Market size and forecast, by card type, 6.4.4.5.1.Market size and forecast, by card type, 6.4.4.6.1.Market size and forecast, by card type, 6.5.1.Key market trends, growth factors, and opportunities, 6.5.4.1.1.Market size and forecast, by card type, 6.5.4.2.1.Market size and forecast, by card type, 6.5.4.3.1.Market size and forecast, by card type, TABLE 01.GIFT CARDS MARKET, CARD BY TYPE, 2019-2027 ($BILLION). . Gift cards market growth has been phenomenal since the past few years due to the fact that it facilitates the recipient to make a purchase of his/her choice. Digital gift cards are purchased most frequently by consumers with an annual income of $75,000 or more. A. For the 13th straight year, the present of choice was the gift card. Consistent connection of consumers with shopping, owing to rapid growth in digital commerce and increase in number of new technologies that provide customers with innovative & seamless payment options are the major growth factors for the market growth. In addition, as consumers have increased the usage of more effective & secured payments for shopping online, the key players have an opportunity to implement better product offerings by providing discounts for gift cards, during the pandemic situation. This is 10% less than the £26.9 billion spent on Christmas gifts in 2019. Gift card growth findings are based on 2018 and 2019 sales data from Blackhawk Network … Partial redemption is a prominent feature encouraging adoption. This is often a statement of a sales goal for a period of time. Furthermore, Gift Card extension can help store admins manage gift codes, discounts, gift card usage and other gift card … The gift cards market is segmented on the basis of card type, end user, and region. With increase in use of mobile and rise in internet penetration globally, the gift card industry is being shifted from plastic to digital gift cards. 8.9.1.Company overview8.9.2.Key Executives8.9.3.Company snapshot8.9.4.Product portfolio8.10.WALMART INC. 8.10.2.Key Executives8.10.3.Company snapshot8.10.4.Product portfolio8.10.5.Business performance, TABLE 01.GIFT CARDS MARKET, CARD BY TYPE, 2019-2027 ($BILLION)TABLE 02.CLOSED-LOOP GIFT CARD MARKET REVENUE, BY REGION 2019–2027 ($BILLION)TABLE 03.OPEN-LOOP GIFT CARD MARKET REVENUE, BY REGION 2019–2027 ($BILLION)TABLE 04.GIFT CARDS MARKET REVENUE, BY END USER, 2019–2027 ($BILLION)TABLE 05.GIFT CARDS MARKET REVENUE FOR RETAIL ESTABLISHMENTS, BY REGION 2019–2027($BILLION)TABLE 06.GIFT CARDS MARKET REVENUE FOR CORPORATE INSTITUTIONS, BY REGION 2019–2027($BILLION)TABLE 07.GIFT CARDS MARKET REVENUE, BY REGION, 2019–2027 ($BILLION)TABLE 08.NORTH AMERICA GIFT CARDS MARKET REVENUE, BY CARD TYPE, 2019–2027($BILLION)TABLE 09.NORTH AMERICA GIFT CARDS MARKET REVENUE, BY END USER, 2019–2027($BILLION)TABLE 10.U.S. Furthermore, as governments across several countries have imposed lockdowns to curb the spread of virus, adoption of gift cards primarily among businesses, has increased and is expected to continue to drive growth momentum for the gift card industry. A. Get detailed COVID-19 impact analysis on the Gift Cards Market. Meanwhile, total gift card spending in 2019 clocked in at $98.6 billion. Gift Cards. A recent report estimated that the breakage rate was as high as 7-8% in 2008, but dropped to as low as 0.75% by 2015. Magento 2 Gift Card extension allows admins to create gift card samples and configure them with ease. Topics: 2021's Best Gift Cards. On the basis of component, the market is bifurcated into solution and services. With an unprecedented COVID-19 health crisis, the demand for gift cards has experienced significant growth, owing to limited use of cash payments in the market. ” Gift cards are so popular that they account for 55% of the average shopper’s entire annual gift budget. 20% of buyers will simply give cash as a gift. The report focuses on growth prospects, restraints, and trends of the gift cards market analysis. Write us on [email protected]. The key growth strategies of gift cards market players are expansion, product development, partnership, product launch, and aquisition. 30% of consumers will spend money on electronics. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. In 2019, the amount increased by around 4.5 percent. John S Kiernan, Managing Editor Nov 12, 2020 . Gift Card Statistics You May Not Know - Infographic, Get Your Ecommerce Up and Running Before St. Patrick’s Day, Givex Acquires Pi Cash Systeme in Switzerland, 9 Ways to Make Valentine’s Day Special in 2021, Restaurant Tips to Get Ready for Super Bowl Weekend, E-Gift Card Sales Skyrocket During COVID-19. In 2019, Americans purchased an estimated $171B worth of these plastic cash substitutes, ranging from $500 prepaid Visa cards to grandma’s annual $25 Cheesecake Factory “nibble. Gift Cards Market Expected to Reach $2,076.51 Billion by 2027. Gift card purchases are made by 56% of all shoppers. The sample size included over 3,000 respondents ages 18+. Gift cards are a leading payment method for scammers. CardCash took a consumer survey and compiled the most up to date statistics so you can have a clear picture of what's really going on. Gift Cards. The gift card market is expected to provide promising growth prospects throughout the forecast period, owing to technological innovations in product offerings, rise in demand for advanced payment solutions, and high adoption of smartphones among consumers. 44% of shoppers will by some form of media items such as games, videos, books, or music. A. Marketing objective. As carrels of cards grew like weeds in stores, criminals realized they were an easy way to rake in money that’s untraceable. GIFT CARDS MARKET REVENUE, BY CARD TYPE, 2019–2027($BILLION)TABLE 11.U.S. This trend is helpful in assessing which retailers are more likely to adjust their estimates in the next few years. A. A. Europe and Asia-Pacific will provide more business opportunities for gift cards in future. Valentine’s Day sales statistics reveal that 85% of all Valentine’s cards are bought by women. More number of such integrations are expected to drive growth of the market. For instance, VISA Inc., a U.S. based company, is continuously working on ways to avoid disruption in payments and revolutionize the way consumers can pay more conveniently. Here are more enlightening statstics about Gift Cards! Find industry analysis, statistics, trends, data and forecasts on Gift Shops & Card Stores in the US from IBISWorld. While physical gift cards are growing at an annual rate of 6%, digital gift cards are growing at an annual rate of 200%. Moreover, increase in use of smartphones & digital wallets are expected to offer opportunities for the gift cards market during the forecast period. It is similar to debit card, and can be used for making purchases, and paying online bills, gas bills, shopping. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. Winter Holidays. Write us on [email protected], Sales related queries? Published by Statista Research Department, Nov 25, 2019 The statistic shows the value of the global gift cards market from 2017 to 2025. This reflects the more general growth of . An extensive analysis of the key segments of the industry helps to understand the global gift cards market trends. Start reading instantly ,This title and over 12000 thousand more,available with Avenue Library, T&C*, Call us on ( U.S. - Canada toll free ) +1-800-792-5285, Int'l : +1-503-894-6022 ( Europe ) + 44-845-528-1300 Drop us an email at [email protected]. In addition, in a rush to make mobile gift card rollouts as convenient and low-cost as possible; companies such as Target and Starbucks have overlooked security holes, which allows any shopper to use money loaded into other shopper’s gift cards. © 1999-2021 Givex Corporation. In addition, technological advancements associated with payment solutions and increase in demand for branded products are expected to provide lucrative opportunities during the forecast period. The closed-loop gift card segment dominated the gift cards market in 2019, and is projected to maintain its dominance during the forecast period. Gift cards have become more innovative with rapid evolution of smart phones. Most consumers plan to spend the same as last year according to a survey from NRF. Gift Card Statistics You May Not Know - Infographic Posted by Sonya Hoshmand July 29, 2019 Did you know that global digital gift card sales is projected to hit $698.2 billion dollars in 2024? The market share is 16.2% from 2020 to 2027. Gift registries ensure that consumers’ preferences are met. What’s even more interesting is the fact that gift cards are in high demand. This figure tops last year’s spending of $23.1 billion. The global gift cards market size was valued at $619.25 billion in 2019, and is projected to reach $2,076.51 billion by 2027, growing at a CAGR of 16.2% from 2020 to 2027. Digital Gift Cards. Gift cards have become a mainstream financial instrument, and are among the top gift choices for both givers and receivers. Connected Commerce. The global players are focusing toward product development and increasing their geographical presence, owing to growth in competition among local vendors, in terms of features, quality, and price. T&C*. Note: Keep in mind that this infographic was created based on 2019 data. Call us at 1(866) 607-4438. The Valentine’s Day statistics Infographic. Gift cards are supposed to make gift-giving simpler, reducing the need to worry about the recipient’s tastes or which specific items he or she might already have. This, in turn, has become one of the major growth factors for the gift cards market during the global health crisis. Despite the billions of dollars that go unused, that’s an estimated 1% increase in annual growth in 2019. The gift cards market has slowly gained popularity in the Middle East & Africa due to initiatives taken by governments and increase in its adoption in Saudi Arabia and the UAE for paying their employees electronically. The report analyzes profiles of key players operating in the market including Amazon.com, Inc., American Express Company, Blackhawk Network Holdings, Inc., Fiserv, Inc., Givex Corporation, InComm Payments, PayPal, Inc., Paytronix Systems, Inc., Qwikcilver Solutions Pvt Ltd., and Walmart Inc. According to our research, an average British adult will fork out £476 on Christmas gifts in 2020, £37 less than the £513 average in 2019. Write us [email protected], Looking for media contact? As it is conveniently available & provides ease of use and flexibility for purchases; amid the COVID-19 pandemic situation. For instance, Distil Networks recently discovered GiftGhostBot, which attacked almost 1,000 websites to find gift cards leading to breach of access to their balance. In 2019 the UK gift-card market was worth just under £7billion. For instance, Gyft, which is available on iPhone and Android, is one of the most popular solutions. 13. Repressing returns. We highlight statistics regarding credit card fraud and identity theft. Here are your options: An all expenses paid trip … Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. These cards represent a relatively small but, important part of electronic payments. The gift cards market faces several security challenges, such as high risk of being hacked by hackers and thieves, which acts as a major restraint for the market. A. (Bankrate) 10. • The most popular Everyday card-sending occasion by far is Birthday, followed by a number of secondary occasions that This is attributed to several benefits such as benefits providing an opportunity to businesses to make money on products purchased using gift cards and free activation for users, which, in turn, drive adoption of closed loop gift card. Technological innovations in product offerings, rise in adoption of gift cards by retail indsutry, and high adoption rate of smartphones are driving the gift cards market growth. Zachary Crockett / The Hustle. Gift card sales in the United States were projected to amount to around 160 billion U.S. dollars by 2018. On the basis of top growing big corporations, we select top 10 players. Over the period of 2016 to 2020, the gift card market progressed at a CAGR of 8.3%, and is expected to grow even faster during the period of forecast (2021 to 2031). Men spend up to five times more than women on gifts for Valentine’s Day. In addition, ongoing technological innovations in gift cards enable high sales in companies by making their product offerings more unique & attractive, therefore, propels the gift cards market growth. GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 19.CANADA GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 20.UK GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 21.GERMANY GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 22.FRANCE GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 23.NETHERLANDS GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 24.SPAIN GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 25.ITALY GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 26.NORDIC COUNTRIES GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 27.REST OF EUROPE GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 28.CHINA GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 29.INDIA GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 30.JAPAN GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 31.AUSTRALIA GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 32.SOUTH KOREA GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 33.REST OF ASIA-PACIFIC GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 34.LAMEA GIFT CARDS MARKET, BY COUNTRY, 2019–2027FIGURE 35.LATIN AMERICA GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 36.MIDDLE EAST GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 37.AFRICA GIFT CARDS MARKET REVENUE, 2019–2027($BILLION)FIGURE 38.MARKET PLAYER POSITIONING, 2019FIGURE 39.TOP WINNING STRATEGIES, BY YEAR, 2018–2020FIGURE 40.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018–2020FIGURE 41.TOP WINNING STRATEGIES, BY COMPANY, 2018–2020FIGURE 42.AMAZON.COM, INC.: NET SALES, 2017–2019 ($MILLION)FIGURE 43.AMAZON.COM, INC.: REVENUE SHARE, BY SEGMENT (2019)FIGURE 44.AMAZON.COM, INC.: REVENUE SHARE, BY REGION (2019)FIGURE 45.AMERICAN EXPRESS COMPANY: NET SALES, 2017–2019 ($MILLION)FIGURE 46.AMERICAN EXPRESS COMPANY: REVENUE SHARE, BY SEGMENT (2019)FIGURE 47.AMERICAN EXPRESS COMPANY: REVENUE SHARE, BY REGION (2019)FIGURE 48.FISERV, INC.: REVENUE, 2017–2019 ($MILLION)FIGURE 49.FISERV, INC.: REVENUE SHARE, BY SEGMENT, 2019 (%)FIGURE 50.FISERV, INC.: REVENUE SHARE, BY REGION, 2019 (%)FIGURE 51.PAYPAL, INC.: NET SALES, 2017–2019 ($MILLION)FIGURE 52.PAYPAL, INC.: REVENUE SHARE, BY REGION (2019)FIGURE 53.WALMART INC.: NET SALES, 2017–2019 ($MILLION)FIGURE 54.WALMART INC.: REVENUE SHARE, BY REGION (2019).
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