You are not logged in!
To save a listing, you need to be logged in.
Global Gift Cards market will reach 510 million US$ by the end of 2025
Global Gift Cards market will reach 510 million US$ by the end of 2025
Publisher: QYResearch
Published Date: 2018/11/19
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. Gift cards can be used more than once owing to the partial redemption option, wherein the remaining balance can be carried over for future purchases.
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.
The global Gift Cards market is valued at 320 million US$ in 2017 and will reach 510 million US$ by the end of 2025, growing at a CAGR of 5.8% during 2018-2025.
This article was first released by QYResearch, if reproduced, please indicate the source.
- Posted on: 2018-11-18 23:52:56
- Classified ad views: 6
- Item ID: 14993834