[Latest] Global Digital Gift Card Market Size/Share Worth

Austin, TX, USA, July 04, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Digital Gift Card Market Size, Trends and Insights By Channel (Brick and Mortor, Digital), By Application Area (Consumer Goods, Health and Wellness, Restaurants and Bars, Travel and Tourism, Media and Entertainment, Others), By Card Type (Closed Loop, Open Loop), By End Users (Retail Establishments, Corporate Institutions), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Digital Gift Card Market size & share was valued at approximately USD 310.1 Billion in 2022 and is expected to reach USD 399.09 Billion in 2023 and is expected to reach a value of around USD 1.2 Trillion by 2032, at a compound annual growth rate (CAGR) of about 12.5% during the forecast period 2023 to 2032.”

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Digital Gift Card Market: Growth Factors and Dynamics

Accelerated acceptance of digital payments: The rising embrace of digital payment methods, such as mobile wallets and online transactions, has significantly propelled the digital gift card market. Consumers are increasingly drawn to the convenience and adaptability of digital gift cards, driving their widespread usage.

Surge in e-commerce dominance: The ascent of e-commerce platforms has provided a substantial impetus to the digital gift card market. Online retailers and marketplaces offer digital gift cards as a convenient gifting alternative, appealing to a larger audience of consumers who prefer online shopping and digital gift delivery.

Customization and personalization features: Digital gift cards offer effortless customization and personalization options, empowering users to include personalized messages, images, or videos. This feature elevates the gifting experience and resonates with consumers seeking a more tailored touch in their gift choices.

Reinforced security and fraud prevention measures: The integration of robust security measures in digital gift cards has bolstered consumer trust and confidence. Features like unique codes, password protection, and encryption techniques safeguard against fraud and unauthorized usage, instilling further growth in the market.

Soaring popularity of mobile applications: The proliferation of mobile apps has played a pivotal role in expanding the digital gift card market. Mobile apps provide seamless access to digital gift cards, enabling users to effortlessly purchase, store, and redeem them on their smartphones, thereby fostering increased adoption.

Shifting consumer preferences: Evolving consumer preferences towards digital and contactless gifting options have propelled the growth of the digital gift card market. The ease of sending and receiving digital gift cards via email, social media, or messaging platforms aligns with the changing gifting habits of tech-savvy and digitally connected consumers.

Expanding international gifting trends: The global nature of the digital gift card market has facilitated cross-border gifting trends. With digital gift cards, it has become easier for individuals to send gifts to their loved ones residing in different countries, eliminating the limitations of physical distance and enabling a seamless international gifting experience.

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Report Scope

Feature of the Report	Details
Market Size in 2023	USD 399.09 Billion
Projected Market Size in 2032	USD 1.2 Trillion
Market Size in 2022	USD 310.1 Billion
CAGR Growth Rate	12.5% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Channel, Application Area, Card Type, End Users and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Digital Gift Card report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Digital Gift Card report has been modified to include the COVID-19 impact study prior to delivery.)

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Digital Gift Card Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Digital Gift Card Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Accelerated shift towards digital gifting: The COVID-19 pandemic and associated lockdowns led to the closure of physical retail stores, prompting a significant shift towards online shopping and digital gifting. This increased reliance on digital channels positively impacted the digital gift card market as consumers sought contactless and convenient gifting options.

Surge in e-commerce and remote celebrations: With restrictions on gatherings and social distancing measures, many celebrations and occasions were held remotely. This led to a higher demand for digital gift cards, which could be easily purchased and delivered electronically, allowing people to send gifts to their loved ones without physical contact.

Emphasis on personalized and virtual experiences: To recover from the impact of COVID-19, digital gift card providers focused on enhancing the virtual experiences associated with their offerings. They introduced features such as personalized messages, virtual celebrations, and interactive elements to replicate the joy of in-person gifting.

Partnerships with online platforms: Digital gift card providers forged strategic partnerships with popular online platforms, such as e-commerce websites and food delivery apps. By integrating their gift card offerings into these platforms, they expanded their reach and tapped into the increased online consumer base during the recovery phase.

Targeted marketing campaigns: To regain momentum, digital gift card companies implemented targeted marketing campaigns to raise awareness and promote their offerings. These campaigns highlighted the benefits of digital gift cards, such as convenience, flexibility, and the ability to support local businesses, appealing to both existing and new customers.

Incentives and promotions: During the recovery phase, digital gift card providers offered incentives and promotions to incentivize customers to purchase and use their gift cards. These included discounts, bonus values, or exclusive offers, attracting consumers and driving sales while encouraging repeat purchases and customer loyalty.

Enhanced safety measures and trust-building: To recover from the impact of COVID-19, digital gift card providers implemented enhanced safety measures and communicated them effectively to build trust among consumers. This included highlighting secure payment options, robust fraud prevention measures, and transparent refund policies, instilling confidence in the safety and reliability of digital gift cards.

Diversification of partnerships and offerings: Digital gift card providers focused on diversifying their partnerships and offerings to cater to evolving consumer needs during the recovery phase. This involved collaborating with a wide range of businesses beyond traditional retail, such as online entertainment platforms, fitness apps, and subscription services, to offer a broader selection of digital gift card options and cater to various gifting preferences.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Digital Gift Card Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

Key questions answered in this report:

What is the size of the Digital Gift Card market and what is its expected growth rate?
What are the primary driving factors that push the Digital Gift Card market forward?
What are the Digital Gift Card Industry's top companies?
What are the different categories that the Digital Gift Card Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Digital Gift Card market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Digital Gift Card Market:

Amazon.com Inc.
Apple Inc.
Google LLC
Starbucks Corporation
Walmart Inc.
Target Corporation
Best Buy Co. Inc.
Visa Inc.
Mastercard Incorporated
PayPal Holdings Inc.
Others

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Browse the full “Digital Gift Card Market Size, Trends and Insights By Channel (Brick and Mortor, Digital), By Application Area (Consumer Goods, Health and Wellness, Restaurants and Bars, Travel and Tourism, Media and Entertainment, Others), By Card Type (Closed Loop, Open Loop), By End Users (Retail Establishments, Corporate Institutions), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/digital-gift-card-market/

Digital Gift Card Market – Regional Analysis

The Digital Gift Card Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: In the Digital Gift Card Market, North America exhibits a strong presence and robust growth. The market trend in this region showcases a high adoption rate of digital gift cards, driven by factors such as technological advancements, widespread e-commerce penetration, and a culture of digital payments. Major manufacturers dominating this region include Amazon.com, Inc., Walmart Inc., and Starbucks Corporation, leveraging their strong retail presence and digital infrastructure to capture a significant market share.

Europe: Europe is a thriving market for digital gift cards, with a growing trend of personalized and experiential gifting. The region emphasizes unique and tailored gifting options, including digital gift cards for specific experiences, travel, or luxury brands. Key manufacturers dominating the European market include Apple Inc., Amazon.com, Inc., and Tesco PLC, capitalizing on their established brands and expanding digital capabilities to cater to the diverse preferences of European consumers.

Asia-Pacific: The Asia-Pacific region showcases immense potential in the Digital Gift Card Market. The market trend is shaped by the rising adoption of digital payments, rapid e-commerce growth, and a digitally savvy population. Personalization and social gifting are prominent trends in this region. Notable manufacturers dominating the Asia-Pacific market include Alibaba Group Holding Limited, JD.com, Inc., and Rakuten, Inc., leveraging their extensive online platforms and strategic partnerships to capture the market share.

LAMEA (Latin America, Middle East, and Africa): LAMEA is an emerging region in the Digital Gift Card Market, witnessing rapid growth and increasing consumer awareness. The market trend in LAMEA is influenced by the expanding e-commerce landscape, increasing smartphone penetration, and the adoption of mobile payment solutions. Dominant manufacturers in this region include MercadoLibre, Inc., Falabella, and Jumia Technologies AG, capitalizing on their regional presence, strong online platforms, and local market knowledge.

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The Digital Gift Card Market is segmented as follows:

By Channel

Brick and Mortor
Digital

By Application Area

Consumer Goods
Health and Wellness
Restaurants and Bars
Travel and Tourism
Media and Entertainment
Others

By Card Type

Closed Loop
Open Loop

By End Users

Retail Establishments
Corporate Institutions

Click Here to Get a Free Sample Report of the Global Digital Gift Card Market @ https://www.custommarketinsights.com/report/digital-gift-card-market/

By Region

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Digital Gift Card Market Research/Analysis Report Contains Answers to the following Questions.

What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Digital Gift Card Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Digital Gift Card Market? What Was the Capacity, Production Value, Cost and PROFIT of the Digital Gift Card Market?
What Is the Current Market Status of the Digital Gift Card Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Digital Gift Card Market by Considering Applications and Types?
What Are Projections of the Global Digital Gift Card Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Digital Gift Card Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Digital Gift Card Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Digital Gift Card Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Digital Gift Card Industry?

Click Here to Access a Free Sample Report of the Global Digital Gift Card Market @ https://www.custommarketinsights.com/report/digital-gift-card-market/

Reasons to Purchase Digital Gift Card Market Report

Digital Gift Card Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Digital Gift Card Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Digital Gift Card Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Digital Gift Card Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Digital Gift Card market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Digital Gift Card Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/digital-gift-card-market/

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Digital Gift Card market analysis.

The competitive environment of current and potential participants in the Digital Gift Card market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Digital Gift Card market should find this report useful. The research will be useful to all market participants in the Digital Gift Card industry.
Managers in the Digital Gift Card sector are interested in publishing up-to-date and projected data about the worldwide Digital Gift Card market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Digital Gift Card products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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