Global Gift Cards Market is Expected to Reach US$ 510 Million by 2025

According to the latest market report published by QY Research titled "Gift Cards Market: Global Industry Analysis, Breakdown Data by Manufacturers, Key Regions, Types and Application and Forecast 2018-2025." The global Gift Cards market was 320 million US$ in 2017 and is expected to 510 million US$ by the end of 2025, growing at a CAGR of 5.8% between 2018 and 2025. A gift card (also known as gift certificate in North America, or gift voucher or gift token in the UK) is a prepaid stored-value money card usually issued by a retailer or bank to be used as an alternative to cash for purchases within a particular store or related businesses. Gift cards are also given out by retailers and marketers as part of a promotion strategy, to entice the recipient to come in or return to the store, and at times such cards are called cash cards. Gift cards are generally redeemable only for purchases at the relevant retail premises and cannot be cashed out, and in some situations may be subject to an expiry date or fees. There is an increasing demand for gift cards in the corporate sector across the globe. Companies are offering incentives to employees in the form of gift cards to recognize employees' contributions and achievements. Approximately 25% to 35% of a merchant's gift card revenue is driven by B2B sales of gift cards.