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Amazon.com Inc. hold a significant share of over 40% in the gift cards industry. Amazon's extensive product range and global reach make its gift cards highly versatile and appealing to a wide audience. Consumers can use Amazon gift cards to purchase virtually anything from electronics and apparel to groceries and digital content, enhancing their utility and attractiveness. Amazon's seamless and user-friendly purchase and redemption processes for gift cards contribute to their popularity. The convenience of buying and sending gift cards online, along with flexible delivery options such as email, physical cards, or printable versions, caters to various consumer preferences and occasions. Additionally, businesses frequently purchase Amazon gift cards for employee rewards and promotional campaigns, further boosting their market share.
Major players operating in the gift cards industry are:
Amazon.com Inc, American Express Company, Blackhawk Network, Fiserv, Inc, Givex Corporation, and InComm Payment LLC among others.
North America industry accounted for over 30% share in 2023 and will expand rapidly through 2032, driven by high consumer purchasing power and the strong gift-giving culture.
Closed-loop gift cards market is expected to reach over USD 2 trillion by 2032, driven by advancements in digital technology, enabling seamless integration of gift card functionalities into mobile apps and online platforms.
The market size for gift cards was valued at USD 534.4 billion in 2023 and is estimated to grow at over 20% CAGR between 2024 and 2032, due to rising consumer demand for flexible and convenient giving options.