Europe Gift Card and Incentive Card Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players.webp "Europe Gift Card and Incentive Card Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Gift Card and Incentive Card Market Analysis
The COVID-19 outbreak has completely transformed the gift card industry. The gap between the penetration of physical gift cards and virtual gift card sales is narrowing. Sighting this, innovation is now focused on digital cards or e-cards. Amid the COVID-19 outbreak, store closures across regions impacted the sales of physical gift cards. This impacted the industry's growth, as physical gift cards continue to hold a notable share in the overall market.
In Europe, the Gift card market in 2021 was driven by a wide range of factors, which supported growth across retail and corporate segments. The primary factors included the growth of e-commerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by the government, hospitality, and travel industries to revive growth. E-Gift cards are parallelly referred to as digital cards, virtual cards, and mobile gift cards. The prominence of these digital cards over plastic cards is increasing significantly. Many retailers have now adopted e-gifting, on realizing that, if their consumers are online, they should also be there. Virtual cards are highly rated when it comes to operational and usage flexibility, as these cards are delivered directly to the beneficiary through an e-mail or SMS in the form of a code and link. Rapid penetration of online payment systems is another factor that is significantly contributing to the adoption of virtual cards across geographies.
Many brand owners and retailers in the Europe Market use gift cards to strengthen their customer loyalty programs and enhance the value proposition of consumers, increase referrals, and retain customers. Adoption of gift cards for consumer loyalty programs is increasing, as brand owners and retailers have now started to believe that it is this that is attracting consumer interest and participation. Many retailers and brand owners have now realized that offering a best mix of rewards can help appeal consumers across different demographics and income groups. Such efforts to move second-best potential consumers to being the most loyal are expected to further positively impact the adoption of gift cards.
Europe Gift Card and Incentive Card Market Trends
This section covers the major market trends shaping the Europe Gift Card & Incentive Card Market according to our research experts:
Increase in the Sales of Smart Phones in Europe helps in Gift card Growth
The rise in smartphone penetration is likely to increase the gift card market by providing customers with more flexible and convenient payment options. One of the most popular solutions, for example, is Gyft, which is available on iPhone and Android. The software allows users to load their gift cards and spend them whenever they go shopping. In recent years, there has been an increase in the demand for improved products and technology improvements linked with payment solutions. This expansion is fueled by unmet needs and a spike in demand for improved transactional solutions. The gift card market is shifting from plastic to digital gift cards as the use of mobile phones and internet penetration grow globally. The market is predicted to rise as a result of an increase in the number of such integrations.
Increase in Online Pyrchase boosts the E-Gift Card Market
With increasing preference for online purchases by millennials, e-gift cards are becoming a big business. The number of online customers are increasing over the years. With internet-savvy at ease with online purchasing, wedding e-gift cards are rising in demand. Selling gift cards is emerging to become an online retail business with consumers widely appreciating a large number of benefits of gift cards. The benefits of having gift cards in the e-commerce business are numerous including increased sales and customer loyalty. Integrated gift card systems help customers make payments for purchases using the gift cards while simultaneously helping retailers track and analyze customer behavior. These factors are accounting for the increase in the Gift Card and Incentive Card Market in Europe.
Europe Gift Card and Incentive Card Industry Overview
The report includes an overview of the top players in the Gift Card and Incentive Card Market operating across the European continent. The Europe Gift Card and Incentive Card Market are characterized by moderately consolidated players along with some other local players. Although the major players make up a significant portion of the market, it can be inferred that the market is moderately concentrated and another significant portion is occupied by the new players.
Europe Gift Card and Incentive Card Market Leaders
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WeGift
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OptioPay GmbH
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Swile
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Amazon
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Tango Card
*Disclaimer: Major Players sorted in no particular order
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Europe Gift Card and Incentive Card Market News
- In September 2021, Amazon One has expanded beyond retail with its first third-party customer, ticketing company AXS. Amazon One from then was available on AXS's mobile ticketing pedestals, giving Red Rocks Amphitheatre event goers the option to enter using just their palms. This was made available across the globe including Europe.
- In August 2021, Hub Engage and Tango Card have launched a strategic partnership to bring Gift Card Incentives to companies seeking to enhance employee engagement and rewards. This collaboration will allow both company's existing and future customers access to an enhanced employee communications platform with the power of automated and convenient fulfillment of a bigger Gift Card catalog across the European region.
Europe Gift Card and Incentive Card Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. INDUSTRY DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porters 5 Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
- 4.5 Insights on Impact of Technology and Innovation in Gift Card and Incentive Card
- 4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Consumer
- 5.1.1 Individual
- 5.1.2 Corporate
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5.2 By Distribution Channel
- 5.2.1 Online
- 5.2.2 Offline
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5.3 By Product
- 5.3.1 E-Gift Card
- 5.3.2 Physical Card
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5.4 By Geography
- 5.4.1 UK
- 5.4.2 France
- 5.4.3 Germany
- 5.4.4 Italy
- 5.4.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Market Competition Overview
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6.2 Company Profiles
- 6.2.1 WeGift
- 6.2.2 OptioPay GmbH
- 6.2.3 Swile
- 6.2.4 Amazon
- 6.2.5 Tango Card
- 6.2.6 HUBUC
- 6.2.7 MyBeezBox
- 6.2.8 Bitrefill
- 6.2.9 Buybox
- 6.2.10 Retailo*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Gift Card and Incentive Card Industry Segmentation
Gift Cards and Incentive Cards are used as a developmental strategy for promoting businesses, attracting new customers, increasing brand awareness, reducing fraud, and improving business sales. Europe Gift Card and Incentive Card Market is segmented By Consumer (Individual and Corporate), By Distribution Channel (Online and Offline), By Product (E-Gift Card and Physical Card), and By Geography (UK, France, Germany, Italy, and Rest of Europe)
| By Consumer | Individual |
| Corporate | |
| By Distribution Channel | Online |
| Offline | |
| By Product | E-Gift Card |
| Physical Card | |
| By Geography | UK |
| France | |
| Germany | |
| Italy | |
| Rest of Europe |
Europe Gift Card and Incentive Card Market Research FAQs
What is the current Europe Gift Card and Incentive Card Market size?
The Europe Gift Card and Incentive Card Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Europe Gift Card and Incentive Card Market?
WeGift, OptioPay GmbH, Swile, Amazon and Tango Card are the major companies operating in the Europe Gift Card and Incentive Card Market.
What years does this Europe Gift Card and Incentive Card Market cover?
The report covers the Europe Gift Card and Incentive Card Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Gift Card and Incentive Card Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Gift Card and Incentive Card Industry Report
Statistics for the 2024 Europe Gift Card and Incentive Card market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Gift Card and Incentive Card analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
