North America Digital Gift Card Market Size, Share & Industry Trends Analysis Report By Functional Attribute (Closed-loop Card and Open-loop Card), By End User (Retail and Corporate), By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Digital Gift Card Market would witness market growth of 12.7% CAGR during the forecast period (2022-2028).
A digital card that customers may use to make purchases from you. Digital gift cards, also known as e-gift cards or electronic gift cards, are distributed through email and include a gift code given to them by the retailer. When an unsure customer enters your business, these cards are incredibly effective. Many companies provide digital gift cards in a range of denominations.
The range and criteria for the card's validity and usage are set by the sellers. When the email address of the receiver is provided, they may use the gift card to make purchases on the brand's website by entering the gift code at Checkout or adding the value to their store wallet. The product amount that falls beneath the gift card amount is then reduced after application. Anyone, wherever in the globe, may get an e-gift card.
American citizens' Gift cards remain to be the most popular payment method when customers report losing money to the majority of fraudsters, according to a recent data study by the Federal Trade Commission. According to data research, customers have reported spending close to $245 million on gift cards since 2018. To combat consumer exploitation, the Federal Deposit Insurance Corporation has established a number of statutes.
The US market dominated the North America Digital Gift Card Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $171,686.2 Million by 2028.The Canada market is anticipated to grow at a CAGR of 14.9% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 14.6% during (2022 - 2028).
Based on Functional Attribute, the market is segmented into Closed-loop Card and Open-loop Card. Based on End User, the market is segmented into Retail and Corporate. Based on Application, the market is segmented into Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Digital Gift Card Market is Estimated to reach $724.3 Billion by 2028, at a CAGR of 14.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Fiserv, Inc., PayPal Holdings, Inc., Walmart, Inc., Amazon.com, Inc., Target Corporation (Target Brands, Inc.), Loop Commerce, Inc (Synchrony Financial), InComm Payments, and Blackhawk Network Holdings, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Functional Attribute
- Closed-loop Card
- Open-loop Card
By End User
- Consumer Goods
- Health & Wellness
- Restaurants & Bars
- Travel & Tourism
- Media & Entertainment
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Apple, Inc.
- Fiserv, Inc.
- PayPal Holdings, Inc.
- Walmart, Inc.
- Amazon.com, Inc.
- Target Corporation (Target Brands, Inc.)
- Loop Commerce, Inc (Synchrony Financial)
- InComm Payments
- Blackhawk Network Holdings, Inc.
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