40+ Gift Card Statistics You Can’t Miss (+ Key Trends)

The gift card market has reached $474 billion by 2024 and is projected to grow to $510 billion by 2025. That sounds like a huge opportunity, especially for businesses to include them in their marketing strategy. 

The gift card market surged due to online shopping and e-gift card services.

In this piece, we’ve gathered several key statistics that will help you better understand the gift card industry. We’ll explore key trends and break down these stats to give you a detailed analysis of what’s shaping it.

Gift Card Statistics – Key Highlights 

Gift cards will continue to grow, and there seem to be many business opportunities. Here are some of the most important statistics that will quickly give you a gist of it. 

Gift Cards Market & Growth Statistics

The gift card market is booming, but let’s understand them deeply using statistics. 

1. The global market size of the gift card industry is  $474 billion in 2024, projected to be  $510 billion. 
2. $183.49 billion worth of corporate gift cards will be purchased by 2032. Businesses favor these cards over other ways to incentivize.
3. The digital gift card market will grow to $932.11 billion in 2028, with a growth rate of 17.1%. 
4. The USA, UK, China, Germany, and Japan are the leaders in purchasing and using gift cards.
5. 60% of all gift card purchases are made online, which reflects the growing trend of e-commerce and digital transactions. 

Gift Card Demographic & Preference Statistics 

Now, let’s look at some of the stats based on consumer behavior and preferences regarding the use of gift cards.

6. Around 57% of women use gift cards, which is higher than that of men. 
7. 43% of men use gift cards. 
8. 71% of consumers prefer gift cards due to their flexibility. 
9. 52% of people purchase gift cards for themselves. 
10. The average value consumers choose a gift card is $60. 
11. Millennials are the ones who use the gift card, around 37%, then Gen X at 28%, Gen Z at 18%, and Baby Boomers at 17%. 
12. 64% of purchases use a gift card during Christmas and holiday seasons. 
13. 43% of consumers purchase gift cards for birthday gifts. 
14. 54% of consumers prefer physical gift cards to digital ones. 
15. 71% of customers report higher brand loyalty after receiving a gift card from a brand. 
16. 51% of consumers said they would revisit the same store after receiving a gift card. 

Gift Card Statistics – Country & Companies

Gift card usage and preferences also vary significantly between countries. Here are the statistics country-wise.

17. The top 10 countries that use gift cards are the USA, the UK, Germany, Canada, Japan, Australia, China, France, Brazil, and India. 
18. The top 10 companies that use gift cards are Amazon, Walmart, Apple, Starbucks, Target, Best Buy, Google Play, Nike, Home Depot, and eBay. 
19. The United States has the biggest gift card usage and will generate $324.5 billion in revenue in 2024. (source: Capital One Shopping)
20. Germany and the United Kingdom also feature high gift card usage levels, with a market share of 27.50%, respectively. 

Gift Card Statistics – Industry-wise

Here are some statistics on how gift cards are used in different industries. 

21. Retail gift cards represent around 86% of all purchases, making them the most popular category. 
22. The retail gift card market is also expected to grow over 14.5% growth till 2036. 
23. Retailers offering discounted gift cards, like Black Friday or Christmas, have seen 54% higher purchases compared to non-discounted periods. 
24. 30% of gift card sales in the food & beverage sector were for restaurants. 
25. 78% of gift cards contribute majorly from the food & beverage industries. The subscription-based services industry will grow to $932.11 billion at a growth rate of 17.1% by 2028. 
26. In 2022, 47% of all gift card purchases in the subscription sector were for streaming services like Netflix and Spotify.
27. Sales of the gaming industry have contributed to a 40% growth in sales for in-game purchases (in platforms like PlayStation, Xbox, and Steam). 
28. Small businesses have seen a 15% increase in sales with the use of gift cards. 

Gift Card Usage & Redemption Statistics

Let us know how many gift cards get redeemed and stay unredeemed after receiving a gift card. 

29. 76% of consumers report redeeming gift cards within the first months of receiving them. 
30. Around $23 billion worth of gift cards are left unredeemed annually in the United States, covering 47% of American adults. 
31. About 25% of gift cards go unused within a year of purchase, an estimate suggesting that up to 29% remain unredeemed for extended periods. 
32. E-gift cards now account for 48% of all gift card spending. 
33. 40% of gift cards are delivered instantly via email or text message, making them an attractive option. 
34. 56.11% of gift cards are redeemed within the first 180 days of purchase. 
35. Digital cards have a slightly faster redemption rate, redeemed in 16.8 days, while physical cards purchased took 35.3 days on average to redeem. 

Gift Card Statistics on Fraud & Security

There has been a significant increase in the usage of gift cards, but there has also been a point of fraud, so let’s check them out.

36. From January and September 2021, reports have reported a loss of $148 million in fraud. 
37. 15% of fraud cases are followed by a common tactic where they claim to charge a fee from consumers in a large prize, sweepstakes, or lottery. 

Gift Card Special Programs & Initiatives

38. 11% of consumers use gift cards to donate to charitable causes.
39. The global market for resale gift cards is expected to grow by 2.3x, reaching over 2023 – 2030. 
40. 24% of people prefer to re-gift gift cards, while 9% of people resold. 

Key Trends in Gift Cards in 2024

41. Digital gift cards now account for 48% of the digital gift card share, and it’s rapidly growing. 
42. The digital gift card market is projected to grow by 17.1% annually through 2028. 
43. 48.5% of major brands now accept gift cards as a payment method. 
44. Personalized gift cards have become increasingly popular among consumers, contributing to a 62% increase in customer loyalty and repeat purchases. 
45. 71% of consumers now prefer to store their gift cards digitally in their mobile wallets, making them more accessible and secure.

Wrapping Up

Now that you know, the gift card industry isn’t just a way of gifting to customers. It also has many uses and is rapidly evolving in e-commerce, particularly in service businesses.

Now is the time for businesses to adopt these trends, integrate gift cards into their strategies, and enjoy competitive market growth.

If you are a Magento 2 store owner, you can easily create a gift card without coding a single word. 

Source: Statista, Precedence Research, Technavio, Next Move Strategy Consulting, Data Bridge Market Research, Global Market Insights, Black Hawk Network