Market Trends of Europe Gift Card and Incentive Card Industry
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.
