Covid-19 Impact on Digital Gift Cards Market to Witness Growth Acceleration During 2021-26
Stratview Research announces the launch of a new research report on the Digital Gift Cards Market by Purpose (Festivals & Special Celebrations, Self-Use, Incentives, Others), Category (Food & Beverage, Footwear & Accessories, Consumer Electronics, Restaurants & Bars, Sporting Goods, Entertainment & Gaming, Others), End-User (Retail, Corporate), and Region (North America, Europe, Asia-Pacific, and Rest of the World).
Highlights from the Report
The digital gift cards market is expected to grow from USD XX billion in 2020 to USD XX billion by 2026 at a CAGR of over 17.1% during the forecast period.
What are digital gift cards?
Digital gift cards are a type of special occasion post or greeting card that is produced inside a company's website and sent to the recipient via email or the Get-upside mobile application. A digital gift card is a digital version of a physical gift card. A barcode with the PIN and number is available on a digital gift card, which has a particular amount available. Barcode can be scanned and the number & PIN are entered manually in the stores. Digital gift cards can be added to mobile wallets to make purchases more secure. These cards are primarily issued by e-commerce companies or the banking sector as their promotional strategy.
COVID-19 Impact on the digital gift cards market
The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This resulted in high demand for online products as an imposition of the lockdown led to travel restrictions and supply chain disruptions. Various organizations are working remotely since covid-19 outbreak which has further increased the popularity of digital gift cards.
The report comprises analytical representation of the Digital Gift Cards Market size along with current trends, challenges, and future estimations to depict imminent investment pockets. To understand the profitable trends and gain a stronger foothold, the report also helps the users with key information related to growth drivers, restraints, and opportunities in the market. The current Digital Gift Cards Market forecast is quantitatively analyzed from a particular time period of 5 years to benchmark the financial competency. The user will also get a detailed info about the market trends and share of key vendors.
Market Dynamics
The digital gift cards market is expected to register a CAGR of around 17.1% during the review period.
- The growth of the eCommerce industry coupled with the increasing usage of smartphones is likely to drive market growth in the coming years.
- Increasing demand for innovative and technologically advanced products is likely to bolster market growth.
- The Rising demand for customized gift cards is likely to create a lucrative opportunity for the market players.
This report provides critical insights on the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
· Market structure: Overview, industry life cycle analysis, supply chain analysis.
· Market environment analysis: Growth drivers and constraints
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Key success factors
This report studies the Digital Gift Cards Market and has segmented the market in few ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the ways in which the market is segmented.
End-User Trends
Based on end-user, the market has been segmented into retail and corporate.
- Increasing adoption of digital gifting trends by retailers is driving the growth of the retail segment.
- The importance of digital gift cards over plastic cards has increased significantly with increasing digitalization and internet access.
- Growing use of digital gift cards as a promotional tool by corporate players is anticipated to drive market growth substantially.
Regional Trends
The Asia-Pacific market is projected to register the fastest growth during the forecast period.
Geographically, the market in North America accounted for the largest market share in 2020 owing to high product usage and rising demand for technologically advanced products. This market growth can be attributed to the increasing adoption of digital gift cards in countries such as India and China coupled with the growing popularity of smartphones.
Following are the key players in the Digital Gift Cards Market:
- Auchan Group SA (France),
- Gruppo Eurospin (Italy),
- CRAI Secom S.p.A. (Italy),
- The Schwarz Group (Germany),
- Carrefour S.A. (France),
- Gruppo Coin SpA (Italy),
- Euronics International Ltd. (Netherlands),
- Inter IKEA Systems B.V. (Netherlands),
- Expert International GmbH (Switzerland), and
- Finiper SpA (Italy).
About Stratview Research-
Stratview Research is a global market intelligence firm having a strong experienced team of industry veterans and research analysts. Stratview Research has been serving multiple clients across a wide array of industries. The services cover a broad spectrum of industries including but not limited to Energy Chemicals, Advanced Materials, Automotive, and Aerospace. At Stratview, we believe in building long term relations with our clients.
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