US Digital Gift Card Market Size, Trends and Insights By Channel (Brick and Mortar, Digital), By Application Area (Consumer Goods, Health and Wellness, Restaurants and Bars, Travel and Tourism, Media and Entertainment, Others), By Card Type (Closed Loop, Open Loop), By End User (Retail Establishments, Corporate Institutions), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI39131

Published Date: January 2024

Pages: 320+

Category: USA

Report Snapshot

CAGR: 14.4%
116.1M
2022
130.4M
2023
438M
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: USA
Largest Market: USA

Major Players

  • PayPal Holdings Inc.
  • Sephora USA Inc.
  • Best Buy Co. Inc.
  • Home Depot Inc.
  • Amazon com Inc.
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the US Digital Gift Card Market is expected to record a CAGR of 14.4% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 130.4 Million. By 2032, the valuation is anticipated to reach USD 438 Million.

The US Digital Gift Card market represents a dynamic sector within the retail landscape, characterized by electronic vouchers or prepaid cards redeemable for goods and services online. Shaped by industry leaders like Amazon, Apple, and Google, the market reflects a consumer shift toward e-commerce, contactless transactions, and personalized gifting experiences.

With a tech-savvy consumer base and innovative initiatives, digital gift cards offer convenience, security, and versatility. The market’s resilience during the pandemic underscores its importance in the evolving retail ecosystem, providing a seamless and tech-forward solution for gifting in the United States.

US Digital Gift Card Market – Significant Growth Factors

The US Digital Gift Card Market presents significant growth opportunities due to several factors:

  • Mobile Wallet Integration: Integration with popular mobile wallets and payment apps enhances accessibility and convenience for users. This integration aligns with the rising trend of mobile payments, further driving the demand for digital gift cards in the US.
  • Gift Card Incentive Programs: The implementation of gift card incentive programs by businesses fuels the US Digital Gift Card market. These programs, often tied to loyalty schemes or employee rewards, drive increased adoption as consumers appreciate the added value and flexibility offered by digital gift cards.
  • Strategic Partnerships: Strategic collaborations between digital gift card providers and retailers amplify market reach. Partnerships create synergies, expanding the availability and visibility of digital gift cards across various platforms, thus attracting a broader consumer base.
  • Personalization and Customization: The demand for personalized gifting experiences is shaping the market. Digital gift cards with customization options, such as personalized messages and designs, resonate well with consumers, adding a personal touch to the gifting process.
  • Tech-Savvy Consumer Base: The US market benefits from a tech-savvy consumer demographic. With a high level of digital literacy and widespread smartphone usage, consumers are more inclined to adopt digital solutions like digital gift cards, further contributing to market growth and innovation.
  • Blockchain Integration: Integrating blockchain technology presents an opportunity to enhance security and transparency in digital gift card transactions. This can mitigate fraud risks and instil greater trust among users, contributing to the market’s long-term sustainability.
  • Sustainability Initiatives: Growing environmental awareness influences the market as sustainability becomes a key consideration. Digital gift cards, by reducing the need for physical production and delivery, align with eco-friendly practices, attracting environmentally conscious consumers and contributing to the market’s ongoing growth.

US Digital Gift Card Market – Mergers and Acquisitions

The US Digital Gift Card Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the US Digital Gift Card Market include:

  • In 2023, Starbucks intensified its partnerships with tech giants Apple, Microsoft, and Amazon, aiming to double its 75 million Rewards members within five years. Leveraging these collaborations, Starbucks seeks to enhance its customer engagement and loyalty programs by tapping into the vast user bases and technological ecosystems of these industry leaders.
  • In 2020, PayPal officially introduced its digital gift card platform. This new initiative expands PayPal’s offerings, allowing users to conveniently purchase and send digital gift cards. The platform aims to enhance user experience and provide a seamless way for customers to engage in digital gifting.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the US Digital Gift Card Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

US Digital Gift Card Market North America Digital Gift Card Market Europe Digital Gift Card Market
CAGR 14.4% (Approx) CAGR 14.7% (Approx) CAGR 15.1% (Approx)
USD 438 Million by 2032 USD 518 Million by 2032 USD 273.9 Million by 2032

US Digital Gift Card Market – Significant Threats

The US Digital Gift Card Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Consumer Privacy Concerns: Growing concerns about privacy and data usage can hinder the adoption of digital gift cards. Consumers may be reluctant to share personal information, impacting the effectiveness of targeted marketing strategies and limiting the potential for personalized digital gift card offerings. Addressing these privacy concerns is crucial to maintaining consumer confidence and market growth.
  • Technological Obsolescence: Rapid technological advancements may render existing digital gift card platforms obsolete. Companies face the constant challenge of staying ahead in terms of technology to meet evolving consumer expectations. Failure to adapt to emerging trends can result in a loss of relevance in the market, posing a threat to the sustainability of digital gift card offerings.
  • Cybersecurity Risks: The US Digital Gift Card market faces significant threats from cybersecurity risks, including data breaches and hacking attempts. As digital transactions increase, malicious actors may target vulnerabilities, potentially compromising sensitive user information and eroding consumer trust.
  • Fraudulent Activities: Various forms of fraud, such as unauthorized use, counterfeiting, or fraudulent redemptions, pose threats to the market. Fraudulent activities can lead to financial losses for both consumers and businesses, undermining the integrity of digital gift card systems.
  • Regulatory Challenges: Evolving regulations and compliance requirements pose a threat to the US Digital Gift Card market. Stricter regulations may impact operations and impose additional costs on businesses, potentially hindering the growth and flexibility of digital gift card offerings.
  • Economic Downturns and Consumer Spending: Economic downturns and fluctuations in consumer spending patterns represent threats to the US Digital Gift Card market. During challenging economic times, consumers may reduce discretionary spending, impacting the demand for digital gift cards and leading to a potential decline in market growth.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 130.4 Million
Projected Market Size in 2032 USD 438 Million
Market Size in 2022 USD 116.1 Million
CAGR Growth Rate 14.4% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Channel, Application Area, Card Type, End User and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope US
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Channel

  • Brick and Mortar: Brick and Mortar channels in the US Digital Gift Card market refer to physical retail locations. Despite facing challenges, traditional stores integrate digital gift cards, enhancing customer experience. Trends include in-store displays for digital cards, encouraging impulse purchases, and the blending of online and offline shopping experiences.
  • Digital: Digital channels involve online platforms facilitating digital gift card transactions. Dominating the US market, digital channels offer convenience and rapid delivery. Trends encompass mobile wallet integration, personalized gifting options, and collaborations between digital gift card providers and e-commerce platforms, expanding accessibility and choice.

By Application Area

  • Consumer Goods: Digital gift cards in the US Consumer Goods sector offer personalized and contactless gifting options, integrating loyalty rewards, and showcasing trends like sustainable product choices and curated online shopping experiences.
  • Health and Wellness: In Health and Wellness, US digital gift cards encompass fitness memberships, wellness retreats, and nutrition plans. Emerging trends include virtual wellness consultations, holistic health subscriptions, and eco-friendly wellness product options.
  • Restaurants and Bars: US digital gift cards for Restaurants and Bars emphasize not only contactless dining but also virtual events, curated culinary experiences, and exclusive chef collaborations, reflecting evolving consumer preferences in the dining landscape.
  • Travel and Tourism: Digital gift cards in US Travel and Tourism introduce trends such as customizable travel packages, eco-friendly travel experiences, and virtual reality-based destination previews, providing consumers with immersive and flexible travel options.
  • Media and Entertainment: In Media and Entertainment, US digital gift cards extend to virtual concerts, gaming add-ons, and premium content subscriptions. Trends include exclusive artist collaborations, augmented reality gaming experiences, and personalized content curation.
  • Others: The “Others” category in US digital gift cards showcases innovative trends, such as personalized charity donations, virtual reality experiences, and unique niche offerings, meeting the diverse and evolving preferences of modern consumers.

US Digital Gift Card Market 2023–2032 (By Million)

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By Card Type

  • Closed Loop: Closed Loop digital gift cards are restricted to a specific retailer or brand. These cards can only be used for purchases within the issuing company, fostering brand loyalty. Trends show an increased focus on personalized promotions, exclusive offers, and enhanced customer experiences, deepening consumer engagement within specific brands.
  • Open Loop: Open Loop digital gift cards, often bearing major payment network logos, provide versatility as they can be used across various merchants. A growing trend involves the integration of open-loop gift cards with mobile wallets, expanding accessibility and promoting widespread adoption in the US Digital Gift Card Market.

By End User

  • Retail Establishments: Digital gift cards in the US Retail sector offer consumers a convenient and personalized gifting option. Trends include integration with e-commerce platforms, ensuring seamless online shopping experiences. Customizable features, instant delivery, and promotions enhance the appeal of digital gift cards, driving their popularity in the retail segment.
  • Corporate Institutions: In the US Corporate sector, businesses utilize digital gift cards for employee incentives and rewards. Trends involve integration with employee wellness programs and heightened personalization, catering to the demand for versatile and meaningful corporate gifting solutions.

US Digital Gift Card Market 2023–2032 (By Channel)

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Competitive Landscape – US Digital Gift Card Market

The US Digital Gift Card Market is highly competitive, with a large number of manufacturers and retailers operating. Some of the key players in the market include:

  • PayPal Holdings Inc.
  • Sephora USA Inc.
  • Best Buy Co. Inc.
  • Home Depot Inc.
  • Amazon com Inc.
  • Apple Inc.
  • Google LLC
  • Starbucks Corporation
  • Netflix Inc.
  • Spotify Technology S.A.
  • Walmart Inc.
  • Target Corporation
  • eBay Inc.
  • Uber Technologies Inc.
  • Facebook Inc.
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players entering the US Digital Gift Card market, such as Gyft, Prezzee, and Yiftee, have adopted innovative strategies, leveraging advanced technologies and user-centric approaches. Meanwhile, dominant key players like Amazon, Apple, and Google maintain market leadership through established brand recognition, expansive user bases, and continuous innovation.

These market giants consistently introduce new features, partnerships, and offerings, reinforcing their dominance. Strategic collaborations and seamless integrations across diverse platforms contribute to their stronghold, influencing consumer preferences and solidifying their positions in the competitive US digital gift card landscape.

US Digital Gift Card Market 2023–2032 (By Card Type)

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The US Digital Gift Card Market is segmented as follows:

By Channel

  • Brick and Mortar
  • Digital

By Application Area

  • Consumer Goods
  • Health and Wellness
  • Restaurants and Bars
  • Travel and Tourism
  • Media and Entertainment
  • Others

By Card Type

  • Closed Loop
  • Open Loop

By End User

  • Retail Establishments
  • Corporate Institutions

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 US Digital Gift Card Market, (2023 – 2032) (USD Million)
    • 2.2 US Digital Gift Card Market: snapshot
  • Chapter 3. US Digital Gift Card Market – Industry Analysis
    • 3.1 US Digital Gift Card Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Mobile Wallet Integration
      • 3.2.2 Gift Card Incentive Programs
      • 3.2.3 Strategic Partnerships
      • 3.2.4 Personalization and Customization
      • 3.2.5 Tech-Savvy Consumer Base
      • 3.2.6 Blockchain Integration
      • 3.2.7 Sustainability Initiatives.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Channel
      • 3.7.2 Market Attractiveness Analysis By Application Area
      • 3.7.3 Market Attractiveness Analysis By Card Type
      • 3.7.4 Market Attractiveness Analysis By End User
  • Chapter 4. US Digital Gift Card Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 US Digital Gift Card Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. US Digital Gift Card Market – Channel Analysis
    • 5.1 US Digital Gift Card Market Overview: By Channel
      • 5.1.1 US Digital Gift Card Market Share, By Channel, 2022 and 2032
    • 5.2 Brick and Mortar
      • 5.2.1 US Digital Gift Card Market by Brick and Mortar, 2023 – 2032 (USD Million)
    • 5.3 Digital
      • 5.3.1 US Digital Gift Card Market by Digital, 2023 – 2032 (USD Million)
  • Chapter 6. US Digital Gift Card Market – Application Area Analysis
    • 6.1 US Digital Gift Card Market Overview: By Application Area
      • 6.1.1 US Digital Gift Card Market Share, By Application Area, 2022 and 2032
    • 6.2 Consumer Goods
      • 6.2.1 US Digital Gift Card Market by Consumer Goods, 2023 – 2032 (USD Million)
    • 6.3 Health and Wellness
      • 6.3.1 US Digital Gift Card Market by Health and Wellness, 2023 – 2032 (USD Million)
    • 6.4 Restaurants and Bars
      • 6.4.1 US Digital Gift Card Market by Restaurants and Bars, 2023 – 2032 (USD Million)
    • 6.5 Travel and Tourism
      • 6.5.1 US Digital Gift Card Market by Travel and Tourism, 2023 – 2032 (USD Million)
    • 6.6 Media and Entertainment
      • 6.6.1 US Digital Gift Card Market by Media and Entertainment, 2023 – 2032 (USD Million)
    • 6.7 Others
      • 6.7.1 US Digital Gift Card Market by Others, 2023 – 2032 (USD Million)
  • Chapter 7. US Digital Gift Card Market – Card Type Analysis
    • 7.1 US Digital Gift Card Market Overview: By Card Type
      • 7.1.1 US Digital Gift Card Market Share, By Card Type, 2022 and 2032
    • 7.2 Closed Loop
      • 7.2.1 US Digital Gift Card Market by Closed Loop, 2023 – 2032 (USD Million)
    • 7.3 Open Loop
      • 7.3.1 US Digital Gift Card Market by Open Loop, 2023 – 2032 (USD Million)
  • Chapter 8. US Digital Gift Card Market – End User Analysis
    • 8.1 US Digital Gift Card Market Overview: By End User
      • 8.1.1 US Digital Gift Card Market Share, By End User, 2022 and 2032
    • 8.2 Retail Establishments
      • 8.2.1 US Digital Gift Card Market by Retail Establishments, 2023 – 2032 (USD Million)
    • 8.3 Corporate Institutions
      • 8.3.1 US Digital Gift Card Market by Corporate Institutions, 2023 – 2032 (USD Million)
  • Chapter 9. US Digital Gift Card Market – Regional Analysis
    • 9.1 US Digital Gift Card Market Regional Overview
    • 9.2 US Digital Gift Card Market Share, by Region, 2022 & 2032 (USD Million)
  • Chapter 10. Company Profiles
    • 10.1 PayPal Holdings Inc.
      • 10.1.1 Overview
      • 10.1.2 Financials
      • 10.1.3 Product Portfolio
      • 10.1.4 Business Strategy
      • 10.1.5 Recent Developments
    • 10.2 Sephora USA Inc.
      • 10.2.1 Overview
      • 10.2.2 Financials
      • 10.2.3 Product Portfolio
      • 10.2.4 Business Strategy
      • 10.2.5 Recent Developments
    • 10.3 Best Buy Co. Inc.
      • 10.3.1 Overview
      • 10.3.2 Financials
      • 10.3.3 Product Portfolio
      • 10.3.4 Business Strategy
      • 10.3.5 Recent Developments
    • 10.4 Home Depot Inc.
      • 10.4.1 Overview
      • 10.4.2 Financials
      • 10.4.3 Product Portfolio
      • 10.4.4 Business Strategy
      • 10.4.5 Recent Developments
    • 10.5 Amazon.com Inc.
      • 10.5.1 Overview
      • 10.5.2 Financials
      • 10.5.3 Product Portfolio
      • 10.5.4 Business Strategy
      • 10.5.5 Recent Developments
    • 10.6 Apple Inc.
      • 10.6.1 Overview
      • 10.6.2 Financials
      • 10.6.3 Product Portfolio
      • 10.6.4 Business Strategy
      • 10.6.5 Recent Developments
    • 10.7 Google LLC
      • 10.7.1 Overview
      • 10.7.2 Financials
      • 10.7.3 Product Portfolio
      • 10.7.4 Business Strategy
      • 10.7.5 Recent Developments
    • 10.8 Starbucks Corporation
      • 10.8.1 Overview
      • 10.8.2 Financials
      • 10.8.3 Product Portfolio
      • 10.8.4 Business Strategy
      • 10.8.5 Recent Developments
    • 10.9 Netflix Inc.
      • 10.9.1 Overview
      • 10.9.2 Financials
      • 10.9.3 Product Portfolio
      • 10.9.4 Business Strategy
      • 10.9.5 Recent Developments
    • 10.10 Spotify Technology S.A.
      • 10.10.1 Overview
      • 10.10.2 Financials
      • 10.10.3 Product Portfolio
      • 10.10.4 Business Strategy
      • 10.10.5 Recent Developments
    • 10.11 Walmart Inc.
      • 10.11.1 Overview
      • 10.11.2 Financials
      • 10.11.3 Product Portfolio
      • 10.11.4 Business Strategy
      • 10.11.5 Recent Developments
    • 10.12 Target Corporation
      • 10.12.1 Overview
      • 10.12.2 Financials
      • 10.12.3 Product Portfolio
      • 10.12.4 Business Strategy
      • 10.12.5 Recent Developments
    • 10.13 eBay Inc.
      • 10.13.1 Overview
      • 10.13.2 Financials
      • 10.13.3 Product Portfolio
      • 10.13.4 Business Strategy
      • 10.13.5 Recent Developments
    • 10.14 Uber Technologies Inc.
      • 10.14.1 Overview
      • 10.14.2 Financials
      • 10.14.3 Product Portfolio
      • 10.14.4 Business Strategy
      • 10.14.5 Recent Developments
    • 10.15 Facebook Inc.
      • 10.15.1 Overview
      • 10.15.2 Financials
      • 10.15.3 Product Portfolio
      • 10.15.4 Business Strategy
      • 10.15.5 Recent Developments
    • 10.16 Others.
      • 10.16.1 Overview
      • 10.16.2 Financials
      • 10.16.3 Product Portfolio
      • 10.16.4 Business Strategy
      • 10.16.5 Recent Developments
List Of Figures

Figures No 1 to 25

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • PayPal Holdings Inc.
  • Sephora USA Inc.
  • Best Buy Co. Inc.
  • Home Depot Inc.
  • com Inc.
  • Apple Inc.
  • Google LLC
  • Starbucks Corporation
  • Netflix Inc.
  • Spotify Technology S.A.
  • Walmart Inc.
  • Target Corporation
  • eBay Inc.
  • Uber Technologies Inc.
  • Facebook Inc.
  • Others

FAQs

The key factors driving the Market are Mobile Wallet Integration, Gift Card Incentive Programs, Strategic Partnerships, Personalization and Customization, Tech-Savvy Consumer Base, Blockchain Integration And Sustainability Initiatives.

The “Closed Loop” category dominated the market in 2022.

The key players in the market are PayPal Holdings Inc., Sephora USA Inc., Best Buy Co. Inc., Home Depot Inc., Amazon.com Inc., Apple Inc., Google LLC, Starbucks Corporation, Netflix Inc., Spotify Technology S.A., Walmart Inc., Target Corporation, eBay Inc., Uber Technologies Inc., Facebook Inc., Others.

The market is projected to grow at a CAGR of 14.4% during the forecast period, 2023-2032.

The US Digital Gift Card Market size was valued at USD 130.4 Million in 2023.

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