US Gift Card and Incentive Card Market Share, Trends, Demand, Growth Drivers, Challenges, Key Manufacturers and Future Investment Opportunities Till 2033

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US Gift Card and Incentive Card Market Share, Trends, Demand, Growth Drivers, Challenges, Key Manufacturers and Future Investment Opportunities Till 2033: SPER Market Research


 Category : Consumer & Retail

 Published: Feb-2024
 Author: SPER Analyst


US Gift Card and Incentive Card Market is projected to be worth USD XX million by 2033 and is anticipated to surge at a CAGR of 9.25%.

Gift cards and incentive cards are prepaid cards loaded with specified amounts. They can be used for specific purposes, such as employee awards or promotional incentives, or to make purchases at certain stores. The recipients of these cards are allowed to choose the things or experiences that they want.
Giving and thanking employees, clients, and business partners with these cards has become increasingly common. To provide a comprehensive picture of this dynamic and ever-changing market, this study explores some of the most key market insights, including drivers, restraints, opportunities, dynamics, regional analysis, the environment of competition, segmentation, much more.

US Gift Card and Incentive Card Market Driving Factors and Challenges

Drivers: The rise in demand for digital gifting alternatives among users is a major driving force for the gift card industry because it is a simple and handy way for consumers to buy gifts for friends, family members, and coworkers, and they can be purchased online or in store. Furthermore, the rising usage of gift cards as prizes and incentives, as well as customer preference for experiences over tangible gifts, are important drivers of the gift card market.
Gift cards are becoming a more common way for Americans to shop in physical stores, online, and on mobile devices. As consumers increasingly demand omnichannel gift cards, more strategic collaborations are emerging in the gift card sector.


Challenges: A number of significant challenges affect the operation and expansion of the US gift card and incentive card market. One of the most significant barriers is the increased regulatory scrutiny of gift cards, which includes various state legislation governing fees, disclosure standards, and expiration dates. Businesses that operate on a national scale must strictly adhere to these criteria in order to avoid legal issues that complicate operations. Fraud and theft pose significant challenges to the sector, with thieves and hackers targeting both digital and physical gift cards using tactics such as hacking, card cloning, and fraudulent activation.

Impact of COVID-19 on US Gift Card and Incentive Card Market
The COVID-19 pandemic has had a substantial impact on the US gift card and incentive card market. This has altered consumer behavior and created both opportunities and challenges for businesses operating in this industry. Lockdowns and social distancing methods that resulted in the closure of many brick and mortar enterprises caused a noteworthy shift in customer preferences towards e-commerce and contactless transactions, which led to the rapid adoption of digital gift cards. Companies increased their investments in digital gift card platforms and distribution channels as a result of this transition, which demonstrated to consumers how crucial it is to provide simple and flexible ways to make purchases.

US Gift Card and Incentive Card Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; American Express, Blackhawk Network, Factor4, Givingli, Nift Network, PopWallet, Prepaid2Cash, Tango Card, Transcard, Visa, Others.


US Gift Card and Incentive Card Market Segmentation:

By Card Type: Based on the Card Type, US Gift Card and Incentive Card Market is segmented as; E-Gift Card, Physical Gift Card.

By Consumer Type: Based on the Consumer Type, US Gift Card and Incentive Card Market is segmented as; Retail Consumer, Corporate Consume.

By Distribution Channel: Based on the Distribution Channel, US Gift Card and Incentive Card Market is segmented as; Online, Offline.

By Region: This research also includes data for Eastern Region, Western Region, Northern Region, Southern Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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