Australia Gift Card Market Introduction
Over the past few years, gift cards have gained huge popularity as a gift option especially for holiday, birthday, and other occasions. The gift card concept has proven its worth and becomes an important tool and cash flow generator for businesses operating across various industries. Further, gift cards are enriched with advanced security features that reduce duplicate usage fraud and provide real-time web-based tracking & reporting which helps businesses to save time. With the increase in a number of consumers willing to purchase gift cards over gift items, retailers have started offering online options i.e. e-gift cards which can be easily shared with the recipient via the mobile device, email, and social networking sites. Gift cards enable enterprises to increase their customer base, build brand visibility, complement customer retention efforts, and increase their revenue margin at a considerable rate.
Availability of multiple brands of gift cards, ease of ordering, competitive offers & discounts on gift cards, and improved support services are some of the key factors that are anticipated to increase the adoption of gift cards among consumers. In addition, streamlined reporting and added security are anticipated to boost the adoption of gift cards in the country during the forecast period. This, in turn, is projected to drive the growth of Australia gift cards market at a healthy rate.
Gift cards issuers are focused towards bringing e-gift in the popular category to cater increased demand from customers. This, in turn, has expanded the Australia gift card market at a substantial rate. Moreover, retailer and merchants—offering gift cards—are inclined towards expanding their sales channels to target a large number of consumers, especially during the holiday shopping season.
The gift cards market is analyzed across various major segments such as types of gift cards, distribution channels, and business type. Based on type, the gift cards market is bifurcated into open loop and closed loop segments. Distribution channel includes specialty retail store, restaurant, supermarket, and other segments. Based on business type, the market is segmented into corporate offices and retailers.
Australia Gift Card Market Competitive Landscape
Key vendors are inclined towards inaugurating gift card stores to enhance customer experience and brand visibility. Moreover, key players are aimed at acquiring other prominent gift cards companies to expand their presence and expertise. Prominent vendors analyzed in the market are Credit Card Processing Specialists, Vii, Blackhawk Network Holdings, Inc., American Express, Amazon.com, Inc., First Data Corporation, Givex Corporation, WEX Australia Pty Ltd, and InComm, Inc.
This research report on australia gift card market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.