$ONCI: Gift cards market set to witness an unprece

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Gift cards market growth has been phenomenal since the past few years due to the fact that it facilitates the recipient to make a purchase of his/her choice. Gift cards market expected to reach US$ 750.31 Bn by 2026, with 10.1% CAGR during the forecast period from 2018 to 2026. This growth is by large contributed by the growing popularity of gift cards in the corporate sector. Moreover, growing internet penetration supporting e-gifting is an important factor influencing the market growth positively. Gift card, also referred to as gift voucher or gift certificate or gift token, is usually issued by a bank or a retailer and stores as a prepaid money value to be used as an alternative to real cash. Marketers or retailers issue gift cards to customers in order to entice them to return to the store for future purchase. This further acts as promotional strategy for retailers and marketers. In general, gift cards does not facilitate cashing out and may have an expiry date. Gift cards have become popular considering the fact that giving cash as a gift is usually regarded socially inappropriate.

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