The Gift Card Market Is Driven By Growing Digitalization

The gift card market allows customers to purchase gift cards/vouchers that can be redeemed for goods and services. Gift cards are an easy and convenient alternative to traditional gift giving and help people select gifts suitable for the recipient’s needs and preferences. Different options are available in terms of card design, denomination value, expiry periods, and redemption processes. Some key advantages include greater flexibility, hassle-free gifting, customized design options, redemption tracking, safe and secure transactions, and customer loyalty programs. Gift cards have gained immense popularity for various occasions including birthdays, weddings, anniversaries, promotions, employee incentives, and seasonal gift giving.
The Global Gift Card Market is estimated to be valued at US$ 12.33 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.

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