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Global Gift Cards Market Expected to Generate a Revenue of $1,396.01 Billion by 2028, Growing at a CAGR of 15.4% from 2021-2028 - Exclusive Report [193-Pages] by Research Dive
NEW YORK , Oct. 7, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, " .
According to the report, the is expected to generate a revenue of , growing exponentially at a during the forecast period
The global gift cards market is expected to witness a noteworthy growth during the forecast period, owing to the increasing smart phone penetration around the globe. In addition, the rising demand for online shopping among people and the increasing internet penetration around the globe is further anticipated to drive the growth of the market during the forecast period. However, the unavailability of proper security of gift cards is expected to impede the growth of the market during the analysis period. On the other hand, the persistent technological enhancements for a convenient payment procedure are expected to create ample opportunities for the growth of the market during the forecast period.
The lockdowns led to the closure of retail outlets, restaurants, cafeterias, etc., affecting the sale and distribution of physical gift cards across the globe. This led to a subsequent decrease in the demand for gift cards. Thus, the outbreak of COVID-19 has had a negative impact on the market.
The report has divided the market into various segments based on type, sales channel, end-use, and region.
For instance, in March 2019 , Pine Labs, a New Delhi -based online retail payments platform, acquired Qwickcilver Solutions, a Bengaluru-based digital gift card firm, for a whooping $110 million in order to maximize Pine Labs' presence in the Indian and International gift cards market.
They are focusing on advanced product developments and merger & acquisition. These are some of the strategies conducted by the startups as well as established business organizations.
Research Dive is a market research firm based in Pune, India . Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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