- In December 2023, Pine Labs Qwikcilver collaborated with Foodpanda to launch Foodpanda Gift Cards, enhancing the user experience for customers. This innovative solution enables users to conveniently redeem their gift cards and check their purchases through a seamless process. The collaboration aims to streamline gift card transactions, making it easier for customers to enjoy Foodpanda’s offerings and fostering loyalty through improved convenience
- In October 2023, YES Bank, in partnership with ONDC, introduced the ONDC Network Gift Card, enabling customers to purchase items across various brands and sellers in multiple categories. This initiative enhances the shopping experience by providing flexibility and accessibility for consumers. With this gift card, customers can explore a wide range of products, simplifying the purchasing process and catering to diverse consumer preferences
- In April 2022, eCard Systems expanded its collaboration with Toast, enhancing their gift card partnership to provide robust customer insights, loyalty programs, and multi-channel marketing specifically for restaurants. This strategic alliance focuses on driving business growth by equipping restaurant owners with comprehensive tools to engage customers effectively. By leveraging data-driven strategies, this partnership aims to improve customer satisfaction and retention through personalized experiences and targeted promotions
- In August 2021, eCard Systems partnered with Paytronix to empower merchants with essential tools and data for optimizing their gift card programs. This collaboration fosters deeper customer connections and supports business expansion by enabling merchants to evaluate the success of their programs. By analyzing customer behavior and preferences, merchants can strengthen relationships, enhance loyalty, and drive sales, ultimately creating a more engaging and rewarding shopping experience
- In April 2021, Thoughtworks launched an innovative gift card aimed at helping retailers enhance customer engagement and spending habits. Utilizing its technological expertise, the company integrates these gift cards into existing payment and ordering systems, creating entry points for consumers. This initiative guides users towards new spending patterns while fostering loyalty, ensuring that retailers can connect with customers in more meaningful ways through personalized offers and rewards
- In July 2020, Apple Inc. introduced a universal gift card designed for hardware, software, and services, meeting the diverse needs of consumers. Marketed as "for everything and everyone," this versatile gift card offers unparalleled flexibility across Apple’s extensive product range. By providing a single solution that caters to multiple categories, Apple reinforces its position as a leading provider of innovative consumer products and enhances customer satisfaction through convenience
Frequently Asked Questions
The market is segmented based on Segmentation, By Products (E-Gift Cards and Physical Cards), Functional Attribute (Closed Loop, Universal Accepted Open Loop and E- Gifting), Industry Vertical (Retail and Corporate Institutions), Merchant (Restaurants, Discount Stores, Coffee Shops, Departmental Store, Grocery Store/Food Supermarkets, Entertainment, and Others) – Industry Trends and Forecast to 2031
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The Global Gift Card Market size was valued at USD 1039.35 USD Billion in 2023.
The Global Gift Card Market is projected to grow at a CAGR of 14.2% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
