Throughout this period, the key players will be ecommerce giants like Amazon, Japan’s Rakuten, and China’s Alibaba. Their latest projections see the worldwide market reaching $440.7 billion by the end of 2027, growing at a compound annual rate of 5.9% between 20. In light of the pandemic, experts also adjusted their future predictions.

The global gift certificate market was worth $295.2 billion in 2020.Īlthough initially projected to exceed $380 billion, the global gift cards market ended 2020 with a value of $295.2 billion. 51% of US adults forget to redeem their gift cards.17% of Americans would want to receive a gift card for the holidays.48.28% of all digital gift cards in 2020 were sold in December.Millennials make up 37% of gift card buyers.46% of US consumers bought a gift card on social media in 2020.Restaurant gift card sales dropped by 31.8% in 2020.In-store gift card loads saw a 7% year-over-year decrease in 2020.Sales of open-loop gift cards rose by 31.5% amid the COVID-19 pandemic.The US gift cards market size is projected to reach $170.78 billion by the end of 2021.The global gift certificate market was worth $295.2 billion in 2020.Top Gift Card Statistics (Editor’s Choice) We’ll also discuss the current market trends and see how the holiday season impacted sales. In this article, we’ll take a closer look at the industry and examine the most recent sales data. But as you’ll learn from this gift card statistics overview, it was a successful year - against all odds. With the onset of the global pandemic in 2020, many feared the industry would suffer. They were physical at first, but with the growing popularity of the internet, retailers started offering digital gift cards for online shopping. Prepaid gift cards have been around for more than two decades and were an instant success with budget-conscious shoppers from all walks of life.

Holiday market gift card balance