Digital Gift Cards Market Report
This market report is segmented by Purpose (Festivals & Special Celebrations, Self-Use, Incentives, Others), Category (Food & Beverage, Footwear & Accessories, Consumer Electronics, Restaurants & Bars, Sporting Goods, Entertainment & Gaming, Others), End-User (Retail, Corporate), and Region. It also has COVID-19 Impact Analysis.
This report provides in-depth information on the trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Digital gift cards market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
This market report is segmented by Purpose (Festivals & Special Celebrations, Self-Use, Incentives, Others), Category (Food & Beverage, Footwear & Accessories, Consumer Electronics, Restaurants & Bars, Sporting Goods, Entertainment & Gaming, Others), End-User...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Digital Gift Cards Market is expected to grow from USD XX billion in 2020 to USD XX billion by 2026 at a CAGR of over 17.1% during the forecast period.
Figure: Global Digital Gift Cards Market Size, 2020-2026 (USD Billion)
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Digital gift cards are a type of special occasion post or greeting card that is produced inside a company's website and sent to the recipient via email or the Get-upside mobile application. A digital gift card is a digital version of a physical gift card. A barcode with the PIN and number is available on a digital gift card, which has a particular amount available. Barcode can be scanned and the number & PIN are entered manually in the stores. Digital gift cards can be added to mobile wallets to make the purchases more secure. These cards are primarily issued by the e-commerce companies or banking sector as their promotional strategy.
The global digital gift cards market is expected to register a CAGR of around 17.1% during the review period.
- The growth of the eCommerce industry coupled with the increasing usage of smartphones is likely to drive the market growth in the coming years.
- Increasing demand for innovative and technologically advanced products is likely to bolster the market growth.
- Rising demand for customized gift cards is likely to create a lucrative opportunity for the market players.
Based on end-user, the market has been segmented into retail and corporate.
- Increasing adoption of digital gifting trends by retailers is driving the growth of the retail segment.
- The importance of digital gift cards over plastic cards has increased significantly with increasing digitalization and internet access.
- Growing use of digital gift cards as a promotional tool by the corporate players is anticipated to drive the market growth substantially.
The Asia-Pacific market is projected to register the fastest growth during the forecast period.
Geographically, the market in North America accounted for the largest market share in 2020 owing to high product usage and rising demand for technologically advanced products. This market growth can be attributed to the increasing adoption of digital gift cards in countries such as India and China coupled with the growing popularity of smartphones.
The spread of coronavirus led to enforcement of lockdown to curb the spread of virus. This resulted in high demand for online products as imposition of lockdown led to travel restrictions and supply chain disruptions. Various organizations are working remotely since covid-19 outbreak which has further increased the popularity of the digital gift cards.
Key players operating in the global Digital Gift Cards Market are-
Here is the list of the group of customers that the global digital gift cards market thinks it has the greatest opportunity to convert-
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The digital gift cards market is expected to witness an impressive growth of 17.1% CAGR in the foreseeable future.
Auchan Group SA (France), Gruppo Eurospin (Italy), CRAI Secom S.p.A. (Italy), The Schwarz Group (Germany), Carrefour S.A. (France), Gruppo Coin SpA (Italy), Euronics International Ltd. (Netherlands), Inter IKEA Systems B.V. (Netherlands), Expert International GmbH (Switzerland), and Finiper SpA (Italy) are among the key players in the digital gift cards market.
Asia-pacific is projected to register the fastest growth in the digital gift cards market during the forecast period.
North America accounted for the largest market share in 2020 owing to high product usage and rising demand for technologically advanced products.
Increasing adoption of digital gifting trends by retailers is driving the growth of the retail segment in the digital gift cards market.