Share this article
Share this article
NEW YORK, May 4, 2021 /PRNewswire/ The global gift card market by type (e-gift cards and physical gift cards) and geography (North America, Europe, APAC, MEA, and South America) has been added to Technavio s offering. The global gift card market is expected to grow by USD 527.11 billion, at a CAGR of over 14% during 2020-2024.
Technavio has announced its latest market research report titled Gift Card Market by Type and Geography - Forecast and Analysis 2020-2024
The rapid surge in the number of COVID-19 cases led to the temporary closure of various businesses in 2020. To help such businesses, several governments have designed gift card programs that can provide immediate cash flow to ensure businesses run smoothly. For instance, the Government of Prince Edward Island, Canada, has partnered with Sobeys on the PEI Employee Gift Card Program. The temporary program offers a USD 100 Sobeys gift value to every employee, living and working on Prin
(2)
Technavio has been monitoring the gift card market and it is poised to grow by 527.11 bn during 2020-2024, progressing at a CAGR of over 14% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201221005635/en/
Technavio has announced its latest market research report titled Global Gift Card Market 2020-2024 (Graphic: Business Wire) Click Get Free sample report in minutes
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the gift card market. The market growth in 2