Consumers across the globe are adjusting to the new normal and there is a noteworthy discrepancy in consumer behavior. Consumer's purchasing habits, behavior, and attitudes have changed in light of COVID-19. People are shopping very consciously and are majorly centered on basic needs and are buying locally. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policy. The covid-19 has consistently impacted the shopping behavior of 9 in 10 consumers. Nearly 30-50 percent of the consumers have shifted towards online shopping from March 2020 to December 2020.
Gift Card Market Overview
A gift card is a prepaid debit card that contains a specific amount of money that is used for a variety of purchases. Generally, there are two types of gift cards: open loop and closed loop cards. Both types can typically be used online and in person.
The growing use of smartphones has resulted in the increasing use of E-commerce websites. Consumers are largely using many mobile apps, such as Amazon, Flipkart, and eBay for online shopping. Again, hassle-free purchase on E-commerce websites is making online shopping a very lucrative business. Therefore, the rising popularity of online shopping is expected to boost the growth of the global gift cards market in the next few years. Additionally, growing acceptance of these gift cards, especially amongst the younger generation is anticipated to propel the growth of the market throughout the forecast period.
However, ensuring secure management and privacy of consumer data is one of the major factors that adversely affect the growth of the market. Besides this, technological developments related to payment solutions and increasing demand for branded products are anticipated to create profitable opportunities for the market’s expansion in the forthcoming years.
Gift Card Market Segment Overview
Based on card type, the Closed-loop Card segment dominated the gift cards market and is expected to maintain its dominance during the forecast period. This is owing to various benefits such as benefits providing an opportunity to businesses to make money on products purchased using gift cards and free activation for users. This fact escalates the adoption of closed-loop gift card.
Moreover, ongoing technological innovations in gift cards allow high sales in companies by making their product offerings more unique & attractive. This fact is expected to create a positive outlook for the development of the market.
Gift Card Market Regional Overview
In terms of regions, North America is anticipated to dominate the overall market, throughout the forecast period. This is mainly due to the presence of several superstores and malls in this region. On the other hand, the Asia Pacific is expected to register the fastest growth during the forecast period. This is attributed to the increasing use of mobile and rising internet penetration in this region. In addition, developing countries offer significant opportunities for gift card solution providers to expand & develop their offerings, especially among countries such as Australia, China, India, Singapore, and South Korea.
Gift Card Market Competitor overview
Major players operating in the industry are focusing on various strategic initiatives such as partnerships and collaborations which are gaining significant popularity in the gift cards market. For instance, In February 2019, InComm, a leading payments technology company, announced it has launched Google Play gift cards in Malaysia, becoming the first distributor to do so, through its strategic partnership with Razer Inc. and its subsidiary MOL Global, Inc. (MOL), a leading e-payment enabler. Google Play gift cards will be available in more than 2,250 7-Eleven stores across Malaysia.
Gift Card Market, Key Players
· 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.
· Walmart Inc.
Gift Card Market Segmentation
Gift Card Market, By Card Type
· Closed-loop Card
· Open-loop Card
Gift Card Market, By End User
· Retail Establishment
· Corporate Institutions
Gift Card Market, By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Gift Card Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Card Type
- 5.2.1. Closed-loop Card
- 5.2.2. Open-loop Card
- 5.3. Market Analysis, Insights and Forecast – By End User
- 5.3.1. Retail Establishment
- 5.3.2. Corporate Institutions
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Latin America
- 5.4.3. Europe
- 5.4.4. Asia Pacific
- 5.4.5. Middle East and Africa
6. North America Gift Card Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Card Type
- 6.2.1. Pre-Combustion
- 6.2.2. Post Combustion
- 6.2.3. Oxy-Fuel Combustion
- 6.3. Market Analysis, Insights and Forecast – By End User
- 6.3.1. Retail Establishment
- 6.3.2. Corporate Institutions
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Latin America Gift Card Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Card Type
- 7.2.1. Closed-loop Card
- 7.2.2. Open-loop Card
- 7.3. Market Analysis, Insights and Forecast – By End User
- 7.3.1. Retail Establishment
- 7.3.2. Corporate Institutions
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. Brazil
- 7.4.2. Mexico
- 7.4.3. Rest of Latin America
8. Europe Gift Card Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Card Type
- 8.2.1. Closed-loop Card
- 8.2.2. Open-loop Card
- 8.3. Market Analysis, Insights and Forecast – By End User
- 8.3.1. Retail Establishment
- 8.3.2. Corporate Institutions
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. UK
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Rest of Europe
9. Asia Pacific Gift Card Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Card Type
- 9.2.1. Closed-loop Card
- 9.2.2. Open-loop Card
- 9.3. Market Analysis, Insights and Forecast – By End User
- 9.3.1. Retail Establishment
- 9.3.2. Corporate Institutions
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. South East Asia
- 9.4.6. Rest of Asia Pacific
10. Middle East & Africa Gift Card Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Card Type
- 10.2.1. Closed-loop Card
- 10.2.2. Open-loop Card
- 10.3. Market Analysis, Insights and Forecast – By End User
- 10.3.1. Retail Establishment
- 10.3.2. Corporate Institutions
- 10.4. Market Analysis, Insights and Forecast – By Country
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. Amazon.com, Inc.
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. American Express Company
- 11.6. Blackhawk Network Holdings, Inc.
- 11.7. Fiserv, Inc.
- 11.8. Givex Corporation
- 11.9. InComm Payments
- 11.10. PayPal, Inc.
- 11.11. Paytronix Systems, Inc.
- 11.12. Qwikcilver Solutions Pvt Ltd.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
