Europe Gift Card and Incentive Card Market Intelligence Databook 2023: Market Value will Increase from $59,510.9 Million in 2022 to Reach $84,143.5 Million by 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Europe Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2023 Update” report has been added to ResearchAndMarkets.com’s offering.

Europe’s gift card industry in the region is expected to grow by 8.0% on annual basis to reach US$ 64,288.0 million in 2023.

The gift card market in Europe has recorded a CAGR of 7.5% during 2018-2022. The gift card industry in Europe will continue to grow over the forecast period and is expected to record a CAGR of 7.0% during 2023-2027.

The gift card market in the region will increase from US$ 59,510.9 million in 2022 to reach US$ 84,143.5 million by 2027.

Across Europe, the gift card industry is showing subdued growth, amid rising inflation and economic slowdown. This trend of the gift card adoption is projected to further continue in 2023. In the United Kingdom, consumers are buying digital gift cards to keep their gift-giving process more affordable.

Organizations are also expected to adopt gift cards as they seek ways to support their employees and customers in times of surging inflation. To cater to the growing B2B market, firms are expected to enter into strategic collaborations to launch innovative gift card programs. The rising uptake of the digital payment tool in the region has also resulted in the launch of new marketplaces, which is driving the competitive landscape of the gift card industry in Europe.

European fintech firms are launching digital gift card marketplaces amid the rising adoption globally

Ever since the pandemic outbreak, the demand for gift cards has increased globally. To cater to this growing demand for digital gift cards in the global market, Europe-based fintech firms are launching a digital gift card marketplace. For instance,

In October 2022, Recharge.com, a leading European branded payments firm, announced the launch of its global marketplace for branded gift cards. The platform which houses 75 brands is available in 180 countries. Some of the leading brands that are available on the platform include Apple, Google, and PlayStation, among others. Along with gift cards, the firm also provides consumers with prepaid cards. As of October 2022, the firm is the leading distributor of prepaid cards having an annual revenue of more than 500 million euros.

The foray into the global market will further allow the firm to accelerate its growth significantly, as the demand for prepaid cards and gift cards is projected to grow over the next three to four years.

Airline carriers are launching gift cards ahead of the Christmas holiday season

The travel and tourism industry has posted a strong rebound in H2 2022 after two years of pandemic-induced slump. Amid the pent-up travel demand, airline carriers have launched gift card programs just ahead of the holidays, with the aim to target the gift-giving season. For instance,

In November 2022, Ryanair, one of the leading carriers in the region, announced the launch of new gift cards and described the payment tool as the ultimate travel gift. With the upcoming holiday season, coupled with the pent-up travel demand, the gift card solution is expected to gain increasing traction among travelers across the European markets.

The firm has launched the gift card solution in both physical as well as digital formats. Furthermore, buyers can also personalize the gift cards with a message for recipients. Starting from just €25 or £25, the gift cards are expected to generate incremental revenue for the firm from the short-term perspective.

The publisher expects more airline carriers and other travel-related businesses to launch gift card solutions to capitalize on the pent-up travel demand in Europe. This will keep assisting the overall market growth from the short to medium-term perspective in the region.

Firms are forging partnerships to bring cryptocurrency gift cards to consumers across Europe

Cryptocurrencies have surged in popularity over the last few years and investors are looking for simplified ways to buy their favored digital assets. Consequently, the gift card providers are forging strategic alliances to launch crypto gift cards in Europe. For instance,

In September 2022, Tillo, the United Kingdom-based gift cards, and rewards platform announced that the firm had entered into a collaboration with BitCard, the Bitcoin gift card provider based in the United States. Under the partnership, the BitCard gift cards will be available for consumers to shop from the Tillo platform. More than 2,000 brands offer gift cards to consumers around the world on the Tillo digital gift card platform.

From the short to medium-term perspective, the publisher expects more such strategic collaborations, thereby driving the growth of cryptocurrency gifting around the world. This will keep driving the growth of the gift card industry and adoption among crypto lovers over the next three to four years.

Bundle Research: 15 Country Reports and 1 Continental Report

• Europe Gift Card and Incentive Card Market Intelligence (Databook)
• Norway Gift Card and Incentive Card Market Intelligence (Databook)
• France Gift Card and Incentive Card Market Intelligence (Databook)
• Germany Gift Card and Incentive Card Market Intelligence (Databook)
• CItaly Gift Card and Incentive Card Market Intelligence (Databook)
• Spain Gift Card and Incentive Card Market Intelligence (Databook)
• United Kingdom Gift Card and Incentive Card Market Intelligence (Databook)
• Netherlands Gift Card and Incentive Card Market Intelligence (Databook)
• Austria Gift Card and Incentive Card Market Intelligence (Databook)
• Belgium Gift Card and Incentive Card Market Intelligence (Databook)
• Greece Gift Card and Incentive Card Market Intelligence (Databook)
• Switzerland Gift Card and Incentive Card Market Intelligence (Databook)
• Poland Gift Card and Incentive Card Market Intelligence (Databook)
• Denmark Gift Card and Incentive Card Market Intelligence (Databook)
• Finland Gift Card and Incentive Card Market Intelligence (Databook)
• Russia Gift Card and Incentive Card Market Intelligence (Databook)

Scope

Total Spend on Gifts

• 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

• 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

• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size

• By Retail Consumer
• By Retail Purchase Occasion
• By Corporate Consumer
• By Corporate Purchase Occasion
• By Company Size

Gift Card Market Size by Retail Consumer

• 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

• 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

• By Functional Attribute
• By Occasion
• Employee Incentive
• Sales Incentive
• Consumer Incentive
• By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers)

• 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)

• 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)

• Gift Card Online Sales
• Gift Card Offline Sales
• 1st Party Sales
• 3rd Party Sales
• Sales Uplift

For more information about this report visit https://www.researchandmarkets.com/r/b7dk5b

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