US Gift Card and Incentive Card Market Size

Statistics for the 2023 & 2024 US Gift Card and Incentive Card market size, created by Mordor Intelligence™ Industry Reports. US Gift Card and Incentive Card size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of US Gift Card and Incentive Card Industry

US Gift Card and Incentive Card Market Overview
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 8.00 %
Market Concentration Medium

Major Players

US Gift Card and Incentive Card Market Key Players

*Disclaimer: Major Players sorted in no particular order


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US Gift Card & Incentive Card Market Analysis

The rise of the US Gift and Incentive Card market, which has been steadily increasing, has accelerated in the aftermath of the pandemic. The digital gift card segment had a significant gain in 2021 as a result of the Covid-19-induced lockout and movement limitations and is likely to continue on its upward trajectory in 2022. Despite the short-term hurdles posed by the epidemic, the medium- to the long-term growth story of gift and incentive cards in the United States continues to be positive.

Due to rising millennial use of gift cards, the development of digital gift cards, and increased e-commerce activity, the Gift Card and Incentive Card Market in the United States is seeing tremendous growth. According to the survey, the gift card market in the United States is being driven by millennials and Gen Z customers. Gift cards for self-use and gifting are becoming more popular as these demographic segments' purchasing power grows. Furthermore, digital gift cards are more popular among these customer demographics than physical gift cards. This is largely due to rising smartphone adoption and the simplicity with which digital gift cards can be managed via digital wallets and mobile apps. As a result, top gift card companies are concentrating their efforts on providing digital gift cards to these customers. Another new trend is for freelancers to take gift cards as payment for their services, which is predicted to help the country's gift card market flourish.

Consumers in the United States are increasingly interested in using gift cards in stores, on websites, and on mobile devices. Consumers' increasing preference for omnichannel gift cards is leading to more strategic alliances in the gift card industry. Several new and imaginative uses for gift cards have emerged in recent years. Innovative program launches, ranging from regional governments providing gift cards for immunization to offering gift cards to assist local businesses, have aided the expansion of the gift card market in the United States and are predicted to continue to do so.

US Gift Card and Incentive Card Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)