Dublin, Feb. 12, 2021 (GLOBE NEWSWIRE) -- The "United States Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Spend Analysis by Digital / e-Gift Card, Retail and Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.
The gift card market in the US is expected to record steady growth over the forecast period, driven by increased adoption of digital or e-gift cards.
The ongoing pandemic has changed consumer behavior in 2020. Online purchases of gift cards more than doubled in 2020, outperforming the YoY growth recorded in 2019. Though online purchase of gift cards has increased in the last few years, the growth has been rapid in 2020 due to the COVID-19. Moreover, gift cards are increasingly being purchased by consumers for digital content including streaming and gaming services.
The open and closed loop gift cards were mostly spent on online shopping in 2020. Among various categories, gift card spending increased especially in electronics and grocery categories. Rise in spending on electronics was due to the work from home trend and rise in spend on home entertainment options such as gaming and online streaming. In 2020, spend on gaming based gift cards rose significantly. Also, consumers purchased nearly twice as many digital streaming cards per quarter than the average in 2020.
The market has seen entry of international players. For instance, Prezzee, an Australian gift card startup, launched its services in the US in November 2020 after white label partnerships with Macy's, UberEats and Spotify. Earlier in August 2020, Prezzee introduced white label gift card program for Afterpay, a buy now, pay later provider, in the US.
According to the publisher's Q4 2020 Global Gift Card Survey, gift card industry in United States is expected to grow by 9.7% on annual basis to reach US$ 170784.8 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in United States remains strong.
The gift card industry in United States is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 8.8% during 2021-2025. The gift card market in the country will increase from US$ 155616.0 million in 2020 to reach US$ 238973.8 million by 2025.
Reasons to Buy
- In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2016-2025) for gift cards and incentive cards in United States.
- Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
- Get insights into consumer attitude and behaviour in United States: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
- Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
- Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
Scope
Total Spend on Gifts in United States
- By Consumer Segment (Retail and Corporate)
- By Product Categories (13 Segments)
- By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments in United States
- Gross Load Value
- Transaction Value
- Unused Value
- Average Value Per Transaction
- Transaction Volume
- Average Value of Card Purchased
- Number of Cards
Gift Card Market Size by Consumer Segment in United States
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in United States
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer in United States
- By Functional Attribute
- By Occasion
- Festivals & Special Celebration Days
- Milestone Celebration
- Self-Use
- Other
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in United States
- Consumer Purchase Behaviour
- Gift Card Buyer by Age Group
- Gift Card Buyer by Income Level
- Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer in United States
- By Functional Attribute
- By Occasion
- Employee Incentive
- Sales Incentive
- Consumer Incentive
- By Scale of Business
- Budget Allocation Trend for 2021
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in United States
- Food & Beverage
- Health, Wellness & Beauty
- Apparel, Footwear & Accessories
- Books & Media Products
- Consumer Electronics
- Restaurants & Bars
- Toys, Kids, and Babies
- Jewelry
- Sporting Goods
- Home & Kitchen Accessories & Appliances
- Travel
- Entertainment & Gaming
- Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in United States
- Ecommerce & Department Stores
- Restaurants & Bars
- Supermarket, Hypermarket, Convenience Store
- Entertainment & Gaming
- Specialty Stores
- Health & Wellness
- Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in United States
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
- Wal-Mart Stores Inc
- Kroger Co
- Amazon.com Inc
- Target Corp
- Costco Wholesale Corp
- Albertson's Inc
- Home Depot Inc, The
- Apple Inc
For more information about this report visit https://www.researchandmarkets.com/r/ylsifk