US Gift Card and Incentive Card Market Introduction and Overview
According to SPER Market Research, the US Gift Card and Incentive Card Market is estimated to reach USD XX million by 2033 with a CAGR of 9.25%.
The report includes an in-depth analysis of the US Gift Card and Incentive Card Market, including market size and trends, product mix, distribution channels, and supplier analysis. Gift cards and incentive cards are prepaid cards with predetermined amounts on them. They can be used for specified things, such employee rewards or promotional incentives, or they can be used to make purchases at specific stores. Recipients of these cards are free to select the goods or experiences that they would like.
Giving and thanking staff members, clients, and business partners with these cards has grown in popularity. In order to present a thorough picture of this dynamic and ever-evolving market, this study examines some of the most important market insights, such as drivers, constraints, opportunities, dynamics, geographical analysis, competitive landscape, segmentation, and more.
- A major cloud-based integration platform, SavorConnect, and Factor4, one of the biggest manufacturers of gift cards and loyalty programs in the US, announced a strategic partnership in September 2021. As part of this strategic partnership, Factor4 will make omnichannel gift cards on Shopify that customers can use on their phones, mobile devices, and online.
- New Leaf Community Markets and New Seasons Market on the West Coast extended their partnership with global branded payments company Blackhawk Network in May 2022 with the goal of enhancing their community supermarkets' online gift card operations.
Market Opportunities and Challenges
Opportunities: Gift cards are becoming a more popular way for American consumers to make purchases in physical locations, online, and on mobile devices. More strategic partnerships are emerging in the gift card market as a result of consumers' growing preference for omnichannel gift cards. In recent times, a number of inventive and novel applications for gift cards have surfaced. The gift card industry in the United States has expanded thanks to creative program releases, which are expected to keep happening. Examples of these program launches include regional governments distributing gift cards for immunizations or gift cards to support local businesses.
Challenges: The functioning and expansion of the US gift card and incentive card business are impacted by a number of major challenges. The growing regulatory scrutiny of gift cards, which includes different state regulations controlling fees, disclosure standards, and expiration dates, is one of the main obstacles. Businesses that operate nationwide must carefully comply with these requirements to prevent legal problems, which add complexity to their operations. Significant obstacles are also presented to the sector by fraud and theft, as thieves and hackers use methods including hacking, card cloning, and fraudulent activation to target both digital and physical gift cards.
Market Competitive Landscape
The gift card and incentive card market in the United States is extremely fragmented, with several companies offering closed-loop gift cards and many credit card issuers, including Visa, Mastercard, American Express, and Discover, offering open-loop gift cards. The market is extremely competitive due to the abundance of competitors selling a wide range of gift and incentive cards.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Card Type, By Consumer Type, By Distribution Channel
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| Regions covered | Eastern Region, Western Region, Northern Region, Southern Region
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| Companies Covered | American Express, Blackhawk Network, Factor4, Givingli, Nift Network, PopWallet, Prepaid2Cash, Tango Card, Transcard, Visa, Others. |
COVID-19 Impact on US Gift Card and Incentive Card Market
The US gift card and incentive card market has been significantly impacted by the COVID-19 epidemic, which has changed consumer behaviour and presented opportunities as well as obstacles for companies in the sector. Digital gift cards were quickly adopted as a result of a noticeable shift in customer preferences towards e-commerce and contactless transactions brought on by lockdowns and social distancing tactics that forced the closure of numerous brick and mortar establishments. This shift made it clear how important it is to give customers easy and flexible ways to make purchases, which encouraged companies to increase their investments in digital gift card platforms and distribution channels. But as a result of the pandemic's economic uncertainties, consumers' buying patterns changed, and they started to be more frugal with their discretionary spending, which included gift cards.
Key Target Audience:
- Retailers
- Corporate Businesses
- Financial Institutions
- Consumers
- Marketing Agencies
- Human Resources Departments
- Small Businesses
- Event Planners
Our in-depth analysis of the US Gift Card and Incentive Card Market includes the following segments:
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By Card Type:
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E-Gift Card
Physical Gift Card
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By Consumer Type:
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Retail Consumer
Corporate Consumer
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By Distribution Channel:
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Online
Offline
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Key Topics Covered in the Report:
- US Gift Card and Incentive Card Market Size (FY’2024-FY’2033)
- Overview of US Gift Card and Incentive Card Market
- Segmentation of US Gift Card and Incentive Card Market By Card Type (E-Gift Card
- Physical Gift Card)
- Segmentation of US Gift Card and Incentive Card Market By Consumer Type (Retail Consumer, Corporate Consumer)
- Segmentation of US Gift Card and Incentive Card Market By Distribution Channel (Online, Offline)
- Expansion Analysis of US Gift Card and Incentive Card Market
- Problems and Obstacles in US Gift Card and Incentive Card Market
- Competitive Landscape in the US Gift Card and Incentive Card Market
- Impact of COVID-19 and Demonetization on US Gift Card and Incentive Card Market
- Details on Current Investment in US Gift Card and Incentive Card Market
- Competitive Analysis of US Gift Card and Incentive Card Market
- Prominent Players in the US Gift Card and Incentive Card Market
- SWOT Analysis of US Gift Card and Incentive Card Market
- US Gift Card and Incentive Card Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the US Gift Card and Incentive Card Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. US Gift Card and Incentive Card Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in US Gift Card and Incentive Card Market
7. US Gift Card and Incentive Card Market, By Card Type (USD Million)
7.1. US Gift Card and Incentive Card Market Value Share and Forecast, By Card Type, 2024-2033
7.2. E-Gift Card
7.3. Physical Gift Card
8. US Gift Card and Incentive Card Market, By Consumer Type (USD Million)
8.1. US Gift Card and Incentive Card Market Value Share and Forecast, By Consumer Type, 2024-2033
8.2. Retail Consumer
8.3. Corporate Consumer
9. US Gift Card and Incentive Card Market, By Distribution Channel (USD Million)
9.1. US Gift Card and Incentive Card Market Value Share and Forecast, By Distribution Channel, 2024-2033
9.2. Online
9.3. Offline
10. US Gift Card and Incentive Card Market Forecast, 2020-2033 (USD Million)
10.1. US Gift Card and Incentive Card Market Size and Market Share
11. US Gift Card and Incentive Card Market, By Card Type, 2020-2033 (USD Million)
11.1. US Gift Card and Incentive Card Market Size and Market Share By Card Type (2020-2026)
11.2. US Gift Card and Incentive Card Market Size and Market Share By Card Type (2027-2033)
12. US Gift Card and Incentive Card Market, By Consumer Type, 2020-2033 (USD Million)
12.1. US Gift Card and Incentive Card Market Size and Market Share By Consumer Type (2020-2026)
12.2. US Gift Card and Incentive Card Market Size and Market Share By Consumer Type (2027-2033)
13. US Gift Card and Incentive Card Market, By Distribution Channel, 2020-2033 (USD Million)
13.1. US Gift Card and Incentive Card Market Size and Market Share By Distribution Channel (2020-2026)
13.2. US Gift Card and Incentive Card Market Size and Market Share By Distribution Channel (2027-2033)
14. US Gift Card and Incentive Card Market, By Region, 2020-2033 (USD Million)
14.1. US Gift Card and Incentive Card Market Size and Market Share By Region (2020-2026)
14.2. US Gift Card and Incentive Card Market Size and Market Share By Region (2027-2033)
14.3. Eastern Region
14.4. Western Region
14.5. Northern Region
14.6. Southern Region
15. Company Profile
15.1. American Express
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Blackhawk Network
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Factor4
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Givingli
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Nift Network
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. PopWallet
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Prepaid2Cash
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Tango Card
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Transcard
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Visa
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. Reference Links
17. Conclusion
18. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
