2021 Global Gift Cards Market Path Analytics Report: Market Reaching .4 Trillion by 2026 – Gifting Etiquette Rooted in Our Culture Provides Cornerstone for Growth – ResearchAndMarkets.com

2021 Global Gift Cards Market Path Analytics Report: Market Reaching $1.4 Trillion by 2026 – Gifting Etiquette Rooted in Our Culture Provides Cornerstone for Growth – ResearchAndMarkets.com

Dublin – (work wire) – “Gift Cards – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com Show.

The global gift card market will reach $1.4 trillion by 2026

Amidst the COVID-19 crisis, the global gift card market of $767.4 billion in 2020 is expected to reach a revised size of $1.4 trillion by 2026, at a compound annual growth rate of 11.1% during the analysis period.

Closed-loop retail, one of the sectors analyzed in the report, is expected to grow at an 11.4% compound annual growth rate (CAGR) to reach US$410.8 billion by the end of the analysis period. After a comprehensive analysis of the commercial effects of the epidemic and the resulting economic crisis, the growth in the closed-loop sector of the restaurant was readjusted to a compound annual growth rate of 10% for the next seven years.

This segment currently accounts for 29.9% of the global gift card market share. In recent years, gift cards have gained notable attention in the restaurant industry as an impressive approach to marketing and branding along with a lifeblood for businesses dealing with the challenges caused by the pandemic.

With money becoming increasingly perceived and considered unrepentant because it requires no effort and has a dollar value marked on the relationship, gift cards are growing in popularity. Convenience and flexibility are two major advantages of gift cards that are driving their adoption among people, businesses, and marketers all over the world.

For businesses, gift cards help express appreciation and gratitude to employees. This type of workplace knowledge helps build an inclusive work environment. Gift cards for retailers and marketers help build brand awareness; get more holiday sales; enable customer engagement; Generate useful behavioral data for the customer; Offer easy distribution and improve cash flow.

With the increasing preference of millennial brides to purchase online, e-gift cards have become big business. With the ease of Internet-savvy brides making online purchases, the demand for wedding e-gift cards is on the rise. Gift card selling is emerging to be a new sales flavor in online retail as consumers are widely appreciating the many benefits of gift cards.

The benefits of owning gift cards in e-commerce are numerous, including increased sales and customer loyalty. Integrated gift card systems help customers make payments for purchases using gift cards while at the same time helping retailers track and analyze customer behavior.

A large portion of customers prefer gift cards from their favorite restaurant, which provides restaurant owners an opportunity to serve them. Major retail and restaurant chains such as Walmart, Amazon, Target, Starbucks and Chipotle also offer customers digital and physical gift cards.

Digital gift cards make it easy for customers to speed up the payment process with an app. The increasing prevalence of smart devices and high levels of digital transformation are contributing to the strong demand for electronic gift cards.

The US market size is estimated at $313.4 billion in 2021, while China is expected to reach $156.4 billion by 2026.

The US gift card market is estimated at $313.4 billion in 2021. The country currently accounts for 38.26% of the global market share. China, the world’s second largest economy, is expected to reach an estimated market size of US$156.4 billion in 2026, trailing a compound annual growth rate of 15.3% during the analysis period.

Other noteworthy geographic markets include Japan and Canada, both of which are expected to grow by 8.9% and 11.1% respectively during the analysis period. Within Europe, Germany is expected to grow at a compound annual rate of approximately 10.1% while the rest of the European market (as defined in the study) will reach $50.3 billion by the end of the analysis period.

Diversified closed-loop sector will reach $144.8 billion by 2026

In the global diversified closed loop segment, USA, Canada, Japan, China and Europe will have an estimated 9.2% compound annual growth rate (CAGR) for this segment. These regional markets representing a combined market size of US$66.6 billion in 2020 will reach the projected size of US$120.1 billion by the end of the analysis period.

China will continue to be among the fastest growing markets in this group of regional markets. Led by countries like Australia, India, and South Korea, the market in the Asia-Pacific region is expected to reach $12.2 billion by 2026, while Latin America will expand at a compound annual growth rate of 10.7% during the analysis period.

Main topics covered:

I. METHODOLOGY

Secondly. Executive Summary

1. Market Overview

  • Gifting etiquette rooted in our culture provides the cornerstone for the growth of the gift card industry

  • The race between the virus and vaccines intensifies. In the midst of this chaotic battle, where is the global economy heading in 2021?

  • These are times when there are many questions and few answers

  • So how fast or slow do you move?

  • Divide scenarios unfold: The great vaccine split emerges

  • Advances in Vaccinations, Why Should Companies Care?

  • With the IMF’s upward revision to the 2021 global GDP forecast, most companies are optimistic about the economy’s return despite the pandemic continuing

  • How are the retail and restaurant industries affected by the epidemic and what is the new situation?

  • Recent market activity

  • innovations

  • Worldwide Trademark

2. Focus on specific players (total of 218 featured)

  • Amazon.com, Inc.

  • Apple company

  • Best Buy Company

  • Blackhawk Network Holdings, Inc.

  • Edenried

  • Global Payments Direct, Inc.

  • Gyft, Inc.

  • InComm . Payments

  • NGC US, LLC.

  • Qwikcilver Solutions Pvt. Ltd.

  • Starbucks Corporation

  • Target company

  • Wal-Mart Corporation

3. Market trends and drivers

  • Wedding Gift Cards Growing steadily with the support of marriageable millennials

  • Strong rise in e-commerce and mobile commerce to support market growth

  • Pandemic fast-forward e-commerce growth

  • The growing focus on loyalty management programs bodes well for the inclusion of gift cards

  • Coffee gift cards as the best marketing tools to benefit from the healthy view of coffee shops

  • Electronic gifting is rising significantly. here why

  • Wide adoption of smartphones is accelerating the concept of e-gift cards

  • The demand for personalized gift cards is growing as more consumers appreciate personalization

  • Increased focus on employee rewards and recognition to stimulate demand for gift cards

  • Gift cards are emerging as a popular marketing strategy for restaurants

4. Global market perspective

Third. Regional Market Analysis

Fourthly. Competition

  • Total listed companies: 218

For more information on this report, visit https://www.researchandmarkets.com/r/h0kht1

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