The evolving gifting landscape is one of the major trends being witnessed in the global gift card market 2018-2022. The culture of giving gifts is growing among the millennials. Social media and the advent of widely marketed occasions has a significant role to play in the growth of this trend. The ongoing trend of digitalization and the growing number of active online users are important factors shaping the global gifting landscape. This is because these factors are expected to drive the demand for e-gifting solutions rather than physical gifts or money during the forecast period. Busy work schedules also drive the demand for e-gift cards as they can be sent instantly.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
According to Technavio analysts, one of the key factors contributing to the growth of the global gift card market is the ability of gift cards to drive ROI for businesses:
Global gift card market: Driving ROI for businesses
One of the most important drivers for the gift card market is their ability to drive ROI. Gift cards create two customers, the buyers via reward points and the recipients. This creates engagement opportunities for the brand with new customers and results in supplementary footfalls as gift cards are a form of customer acquisition strategy. In many instances, the transaction value for both customers exceeds the value of the gift card as people use them to buy things they do not purchase on their own. This increases the ROI for businesses and drives premiumization. Moreover, gift cards drive positive working capital as brands get money in advance for services to be rendered in future.
According to a senior analyst at Technavio for research on retail goods and services, “Gift cards can be utilized for brand building and brand equity purposes, which is a key differentiator in the modern competitive environment that helps to drive ROI.”
Global gift card market: market segmentation and analysis
This global gift card market research report provides market segmentation by product (e-gift card and physical card) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 41%, followed by EMEA and APAC respectively. The market for gift cards is growing rapidly in developing countries, with the market share of APAC projected to increase by close to 5% over the forecast period. The Americas, on the other hand, will witness a commensurate decline in its market share over the forecast period.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.