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Digital and e-gift cards, which are frequently coupled with mobile wallets, provide convenience and rapid delivery, while personalized features such as custom messages and themed graphics make them more enticing. Blockchain technology improves security and reduces fraud, and there is a visible shift toward more sustainable solutions, such as digital cards produced from eco-friendly materials. Additionally, gift cards are increasingly being employed in business incentive programs and customer loyalty schemes. Global availability, allowing numerous currencies and cross-border use, together with the increased popularity of gift cards for virtual experiences and subscription services, are further expanding the market's reach and importance.
In September 2023, in India, the Government-backed Open Network for Digital Commerce (ONDC) introduced the "ONDC Network Gift Card." This network-level gift card can be utilized by companies for corporate gifting and employee engagement in anticipation of the upcoming festive season.
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.