Gift Cards Market_PR

1. Gift Cards Market: Size, Share, Report | Forecasts (2024-2036) Analysis of Gift Cards Market Size by Research Nester Reveals the Market to Grow with a CAGR of 19.3% During 2024-2036 and attain USD 8195.4 billion by 2036. Research Nester assesses the growth and market size of the gift cards market, which is anticipated to be due to a slated increase in internet penetration, as they promote several gift card services and products. According to a report in 2024, there are more than 5.15 billion users of social media globally, with an annual growth of about 5.6%. New York – August 31, 2024- Research Nester’s recent market research analysis on “Gift Cards Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor's analysis and a detailed overview of the global gift cards market in terms of market segmentation by card type, end-user, and by region. Growing demand for digital gifting to promote the global market share of the gift cards market The global gift cards market is estimated to grow majorly on account of the growth in the usage of digital gifting options as it is projected to be a simple and practical way for customers to buy presents for friends, family, and coworkers because they can buy them online or in-store. A report in 2022 estimated that the retail sales of digital gift cards surpassed the previous sales by 106%. In addition, the market for gift cards is being driven primarily by consumers' preference for experiences over material gifts and by the growing use of gift cards as incentives and rewards. Moreover, personalized messages and unique designs are common features on gift cards, with this feature, givers can select themes, images, or graphics that go well with the occasion or the recipient's tastes. A survey done by Research Nester in 2024 concluded that personalized and customized gifting is popular in more than 55% of companies. Some of the major growth factors and challenges that are associated with the growth of the Gift Cards market are: Growth Drivers: •Demand for personalized gifting options •Preferable choice for last-minute givers Challenges:

2. Gift cards are prone to fraud and theft, particularly if they lack security features or correct activation procedures. People may fall victim to fraud or theft as a result of insufficient consumer protection, losing the value displayed on their card and being unable to retrieve it again. Buyers and receivers of gift cards may be frustrated by technical faults or errors that arise during the activation, redemption, or balance-checking procedure. Access our detailed report at: https://www.researchnester.com/reports/gift- cards-market/6387 By card type, the gift card market is segmented into closed-loop and open-loop. The closed- loop segment is estimated to garner a significant market share over the forecast period. The segment’s growth is attributed to the influence on brand recognition because closed-loop gift cards, which are only redeemable at one location or under one corporate brand, guarantee that gift card recipients visit the business to use them. This makes gift cards profitable for businesses. In addition, to help stop fraud and unauthorized use, advanced security features like magnetic stripes, PINs, or special activation codes are generally included. Moreover, a lot of retailers allow customers to link or register their gift cards with online accounts, giving them the ability to monitor transactions, check their balance, and report issues right away. The World Bank published a report in 2022 estimating that about 2/3rd of global adults now receive and make digital payments which is an increase of 22% to cross 57% from 2014 to 2021. By region, North America is expected to generate the highest revenue by the end of 2036. In 2023, the North America market has dominated the global sales. This growth was mainly fueled by the surge in the usage of digital payments as an alternative to cash in several industries such as retail, banking, corporate, hospitality, institutes, and many more. Moreover, the United States Agency for International Development (USAID) announced WiDEF (Women in the Digital Economy Fund) in the White House in 2023, this was a digital inclusion partnership to included women-led tools, solutions, and products. USAID provided about USD 50 million in GEEA (Gender Equity and Equality Action), while Inclusive Development Hub provided USD 500,000, especially for disability inclusion. Customized report@ https://www.researchnester.com/customized-reports- 6387 This report also provides the existing competitive scenario of some of the key players of the Gift Cards market which includes Paytronix Systems, Blackhawk Network, Fiserv Inc.,

3. Amazon, InComm Payments LLC, Givex Corporation, PayPal, American Express, Foodpanda, and many more. Request Report Sample@ https://www.researchnester.com/sample-request- 6387 Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives make wise decisions for their future marketing strategy, expansion, investment, etc. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds. Our out-of-the-box thinking helps our clients to make wise decisions to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919