{"id":289,"date":"2023-09-02T02:49:46","date_gmt":"2023-09-02T02:49:46","guid":{"rendered":"https:\/\/savemycent.com\/?p=289"},"modified":"2024-02-16T14:28:33","modified_gmt":"2024-02-16T14:28:33","slug":"gift-card-statistics","status":"publish","type":"post","link":"https:\/\/savemycent.com\/gift-card-statistics\/","title":{"rendered":"25 Essential Gift Card Statistics You Should Know in 2024"},"content":{"rendered":"\n
Prepaid gift cards have been around for more than two decades and were an instant success with budget-conscious shoppers from all walks of life. They were physical at first, but with the growing popularity of the internet, retailers started offering digital gift cards for online shopping.<\/p>\n\n\n\n
With the onset of the global pandemic in 2020, many feared the industry would suffer. But as you\u2019ll learn from this gift card statistics overview, it was a successful year \u2014 against all odds.<\/p>\n\n\n\n
In this article, we\u2019ll take a closer look at the industry and examine the most recent sales data. We\u2019ll also discuss the current market trends and see how the holiday season impacted sales.<\/p>\n\n\n\n
(MarketWatch)<\/p>\n\n\n\n
Although initially projected to exceed $380 billion, the global gift cards market ended 2020 with a value of $295.2 billion. In light of the pandemic, experts also adjusted their future predictions. Their latest projections see the worldwide market reaching $440.7 billion by the end of 2027, growing at a compound annual rate of 5.9% between 2021 and 2027. Throughout this period, the key players will be ecommerce giants like Amazon<\/a>, Japan\u2019s Rakuten, and China\u2019s Alibaba.<\/p>\n\n\n\n