Growing consumer preference for omnichannel gift cards leads to strategic partnerships

DUBLIN, March 24, 2022 /PRNewswire/ — The “United States Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2022 Update” Report has been added ResearchAndMarkets.com Offer.

United States’ The gift card industry is expected to grow at 9.5% annually $188832.7 million in 2022. Despite short-term challenges in 2022, medium to long-term growth story of gift cards The United States stay strong. The gift card industry in The United States is expected to grow steadily in the first half of 2022 and post strong growth in the second half of 2022.

The growth momentum is expected to further increase during the forecast period, registering a CAGR of 8.3% between 2022 and 2026. The gift card market in the country will continue to grow $172505.0 million to be achieved in 2021 $259728.1 million until 2026.

With the supply chain crisis causing product shortages, gift cards are expected to boost retail sales The United States

in the The United States, the economy is paralyzed by all kinds of supply chain problems; Gift cards are expected to drive retail sales over the next four to six quarters.

  • With the lockdown and movement restrictions caused by Covid-19, the digital gift card segment saw a significant upswing in 2021 and is expected to continue its upward trend in 2022. Retailers in particular also play a significant role in the overall growth of The United States gift card industry. Merchants are increasingly pushing the use of gift cards to attract new customers and channel post-December Christmas shopping into the boring January and February periods.

Growing consumer preference for omnichannel gift cards leads to strategic partnerships in The United States

in the The United States, consumers increasingly want to use gift cards in stores, on websites and on mobile platforms. This growing consumer preference for omnichannel gift cards is leading to more strategic gift card partnerships.

  • in the Sep 2021Factor4, one of the leading providers of gift card and loyalty solutions in The United States, announced that the company has entered into a strategic partnership with SavorConnect, a leading cloud-based integration platform. Through this strategic partnership, Factor4 will launch omnichannel gift cards on Shopify for consumers to use online, in-store and across mobile devices.
  • in the November 2021Factor4 also entered into a strategic partnership with Valor Paytech. This strategic partnership will enable ISOs to offer retailers an omnichannel gift card solution that is compatible with Valor’s suite of devices and offers seamless mobile and online capabilities.

With online sales of gift cards exploding over the past four to eight quarters and few companies offering omnichannel gift cards, the publisher expects growing consumer demand for such solutions to further fuel the growth of the digital gift card segment The United States from a short to medium term perspective.

Innovative gift card program launched to support overall industry growth The United States

Over the past four to eight quarters, several new and innovative use cases for gift cards have emerged. From regional governments launching vaccination gift cards to offering gift cards to support local businesses, innovative program launches have significantly supported the growth of the gift card market The United States and are expected to drive further growth in the industry.

  • in the November 2021Onondaga County, has introduced the new round of Restaurant Gift Cards to double your money The United States. The gift card program aims to support the hospitality industry, which has been hit by the pandemic. The district is exhibiting in the new round of the innovative gift card program $400,000 Value of coupons designed to encourage purchases at local restaurants across the country.
  • in the Sep 2021, Chicago announced that the government is offering $100 in gift vouchers for vaccination against the Covid-19 disease. More regional governments are expected to implement such vaccination gift card programs The United States For the next four to eight quarters, the publisher expects growth in the gift card segment to continue in the short to medium term.

The publisher expects the innovative use cases of gift cards in The United States will continue to support market growth over the next four to eight quarters.

The robust growth of the e-commerce market is expected to drive the growth of the gift card market The United States

The shift towards online shopping has led to an increase in the number of new consumers buying products online. This has led to significant growth in the e-commerce market The United States in the last four to eight quarters. The growth in the e-commerce segment in particular has also supported the rise of the gift card industry in the country.

The trend towards online shopping is expected to continue The United States In the short to medium term, the publisher expects that the robust growth of the e-commerce market will further drive consumer acceptance of gift cards, which will subsequently fuel market growth The United States in the next four to eight quarters.

scope

Closed Loop Gift Card Market Share by Key Retailers. Key retailers covered include:

  • Walmart Stores Inc
  • Kroeger Co
  • Amazon.com Inc
  • target company
  • Costco Wholesale Corp
  • Albertsons Inc
  • Home Depot Inc, The
  • apple inc

Total spending on gifts in United States

  • By consumer segment (retail and enterprise)
  • By product categories (13 segments)
  • By Retail Sectors (7 Segments)

Gift Cards Market Size by KPIs across all Consumer Segments in United States

  • gross charge value
  • transaction value
  • Unused value
  • Average value per transaction
  • transaction volume
  • Average value of card purchased
  • number of cards

Gift Cards Market Size by Consumer Segment in United States

  • Consumer
  • Enterprise customers (small, medium, large companies)

Size of the digital gift card market in United States

  • By Retail Consumers
  • After purchase reason in retail
  • From corporate consumers
  • Through Corporate Purchase Occasion
  • By company size

Gift Cards Market Size by Retail Consumer in United States

  • By function attribute
  • By occasion
  • Festivals and special holidays
  • milestone celebration
  • ownconsumption
  • Other
  • Value by purchase channel

Gift card spending by consumer behavior and demographics in United States

  • purchasing behavior of consumers
  • Gift card buyers by age group
  • Gift card buyers by income level
  • Gift card buyers by gender

Gift Cards Market Size by Enterprise Customer in United States

  • By function attribute
  • By occasion
  • employee incentive
  • sales incentive
  • consumer incentive
  • By company size

Gift spend by product category (split into retail and corporate customers) in United States

  • Food & Drinks
  • Health, Wellness & Beauty
  • Clothing, shoes & accessories
  • Books & Media Products
  • consumer electronics
  • restaurants and bars
  • toys, children and babies
  • jewelry
  • sporting goods
  • Household and kitchen accessories and household appliances
  • travel
  • Entertainment & Games
  • Other

Gift card spend by retail sector (split into retail and corporate customers) in United States

  • E-commerce and department stores
  • restaurants and bars
  • Supermarket, hypermarket, convenience store
  • Entertainment & Games
  • specialty shops
  • Bless you
  • travel

Gift card spend by sales channel (split into individual and corporate customers) in United States

  • Online sale of gift cards
  • Offline sales of gift cards
  • 1st Party Sales
  • Third Party Sales
  • increase in sales

For more information about this report, see https://www.researchandmarkets.com/r/od4clz

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SOURCE Research and Markets

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