LOS ANGELES, PUNE, India and SEOUL, South Korea, July 17, 2018 /PRNewswire/ --
According to the latest market report published by QY Research titled "Gift Cards Market: Global Industry Analysis, Breakdown Data by Manufacturers, Key Regions, Types and Application and Forecast 2018-2025."
The global Gift Cards market was 320 million US$ in 2017 and is expected to 510 million US$ by the end of 2025, growing at a CAGR of 5.8% between 2018 and 2025.
A gift card (also known as gift certificate in North America, or gift voucher or gift token in the UK) is a prepaid stored-value money card usually issued by a retailer or bank to be used as an alternative to cash for purchases within a particular store or related businesses. Gift cards are also given out by retailers and marketers as part of a promotion strategy, to entice the recipient to come in or return to the store, and at times such cards are called cash cards. Gift cards are generally redeemable only for purchases at the relevant retail premises and cannot be cashed out, and in some situations may be subject to an expiry date or fees.
There is an increasing demand for gift cards in the corporate sector across the globe. Companies are offering incentives to employees in the form of gift cards to recognize employees' contributions and achievements. Approximately 25% to 35% of a merchant's gift card revenue is driven by B2B sales of gift cards.
A growing adoption of gift cards in the corporate sector is one of the primary drivers pushing the global gift card market. Gift cards are gaining more popularity as compared to gift vouchers owing to several benefits offered by these cards.
North America is the largest consumer of gift cards, with a consumption market share of 45.35% in 2017. The second place is Europe, following North America with the consumption market share of 25.72% in 2017.
This report studies the Gift Cards market size (value and volume) by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
We can also provide the customized separate regional or country-level reports,
Global Gift Cards Market report includes the estimation of market size for value (million USD) and volume (M Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Gift Cards market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report: Further breakdown of Gift Cards market on basis of the key contributing countries. Detailed analysis and profiling of additional market players.
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