Gift Card Market Trends: Changing Consumer Behaviors and E-commerce Drive Growth

According to recent reports, the global gift card market is expected to experience a significant growth rate of 16.2% between 2021 and 2029. This growth is driven by several factors, including the increasing popularity of gift cards, the rise of e-commerce, and changing consumer behaviors. In this blog post, we'll explore the factors driving the growth of the gift card market, the benefits of gift cards, and what this growth means for businesses and consumers. Why is the Gift Card Market Growing? Increasing Popularity of Gift Cards: Gift cards have become increasingly popular over the years, with more and more people opting to give and receive gift cards for various occasions. They offer a convenient gifting solution that allows the recipient to choose what they want, making them a highly preferred choice for gift-givers. Rise of E-commerce: The COVID-19 pandemic has accelerated the shift towards online shopping, and gift cards are no exception. With the increasing popularity of