Gift cards are prepaid stored-value instruments that allow recipients to purchase goods or services up to a specified monetary value. They are commonly used as gifts, incentives, or promotional tools, offering flexibility and convenience to both givers and recipients. Consumers across various demographics utilize gift cards for personal gifting, corporate rewards and promotional activities.
The gift cards market consists of sales, by entities (organizations, sole traders, or partnerships), of gift cards that are used during special occasions such as birthdays, holidays, or corporate events, providing flexibility and choice to recipients. Complementary products include loyalty programs and promotional discounts, while substitutes encompass cash gifts and traditional vouchers. Gift cards are used both in physical stores and online platforms, offering versatility in redemption options.
The global gift cards market was valued at $643,068.40 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 15.00%.
Increasing Growth Of The Retail Sector
During the historic period, the increasing growth of the retail sector supported the growth of the gift cards market. The rapid expansion of both physical and online retail channels has increased the availability and visibility of branded gift cards. Retailers view gift cards as a strategic revenue tool, benefiting from upfront income, unredeemed balances and increased customer spending. High seasonal demand and use in corporate promotions further amplify their value. Their seamless integration across online, mobile and in-store platforms enhances convenience, making them a preferred choice in an omnichannel retail environment. For instance, in February 2025, according to a report published by the House of Commons Library, a UK-based library and information resource of the lower house of the British Parliament, there were 324,995 retail businesses operating in Great Britain as of January 1, 2024. Retail sales for the year reached $668 billion (£517 billion), reflecting a 1.4% increase compared to 2023. Notably, food shops accounted for 39 pence of every pound spent, marking a 1% rise from the previous year. Therefore, the increasing growth of the retail sector drove the growth of the gift cards market.
Investments In Gift Cards Expanding Offerings And Consumer Reach
Companies operating in the gift cards market are focusing on strategic investments to expand their digital and e-gift card offerings, enhance consumer engagement and integrate advanced technologies such as blockchain and AI. These investments aim to improve customer experience, streamline processing and tap into the growing demand for personalized and cross-channel gift card solutions. For example, in February 2025, Raise, a US-based digital gift card and blockchain payments company, secured $63 million in a funding round led by Haun Ventures, a US-based venture capital firm bringing its total funding to over $220 million. The company plans to utilize the funds to further develop its blockchain-backed gift card program, Smart Cards and expand the Retail Alliance Foundation, a nonprofit coalition aimed at creating a secure and modernized global gift card network. This initiative seeks to transform gift cards into a fully programmable retail currency, enhancing security and interoperability within the industry.
The global gift cards market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 3.67% of the total market in 2024.
Gift Cards Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global gift cards market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for gift cards? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The gift cards market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider gift cards market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by range, by application and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by range, by application and by end user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for gift cards providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Universal Accepted Open Loop; Sports Gift Card; E-Gifting; Restaurant Closed Loop; Retail Closed Loop; Miscellaneous Closed Loop
- 2) By Price Range: Low (0-200 US$); Medium (200-400 US$); High (Above 400 US$)
- 3) By Application: Personal Finance; Marketing And Promotions; Hospitality And Travel; Education; Non-Profit And Charity; Other Applications
- 4) By End User: Retail Establishment; Corporate Institutions
- Companies Mentioned: Amazon.com Inc.; Walmart Inc.; Apple Inc.; Starbucks Corporation; Blackhawk Network Holdings Inc.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; gift cards indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.