2 months ago
ResearchAndMarkets.com’s offering.
The gift card market in the US is expected to record steady growth over the forecast period, driven by increased adoption of digital or e-gift cards.
The ongoing pandemic has changed consumer behavior in 2020. Online purchases of gift cards more than doubled in 2020, outperforming the YoY growth recorded in 2019. Though online purchase of gift cards has increased in the last few years, the growth has been rapid in 2020 due to the COVID-19. Moreover, gift cards are increasingly being purchased by consumers for digital content including streaming and gaming services.
The open and closed loop gift cards were mostly spent on online shopping in 2020. Among various categories, gift card spending increased especially in electronics and grocery categories. Rise in spending on electronics was due to the work from home trend and rise in spend on home entertainment options such as gaming and online streaming.
United States Gift Card and Incentive Card Market Intelligence Report 2021 – ResearchAndMarkets.com
By
Staff
2 months ago
ResearchAndMarkets.com’s offering.
The gift card market in the US is expected to record steady growth over the forecast period, driven by increased adoption of digital or e-gift cards.
The ongoing pandemic has changed consumer behavior in 2020. Online purchases of gift cards more than doubled in 2020, outperforming the YoY growth recorded in 2019. Though online purchase of gift cards has increased in the last few years, the growth has been rapid in 2020 due to the COVID-19. Moreover, gift cards are increasingly being purchased by consumers for digital content including streaming and gaming services.