India Gift Cards Market Likely to Grow at a CAGR of 18% During 2024-2032, Aided by the Rapid Digitalisation Across the End-Use Sectors

The India gift cards market is anticipated to rise significantly in the forecast period due to rapid digitalisation in the corporate and retail sectors. The growing reach of electrical and electronic devices such as mobile phones, tablets, and other smart devices will likely propel the demand for digital gift cards. Over the forecast period, the rising awareness about the benefits of gift cards, which include security from fraud, theft and duplication, and increasing disposable incomes, is likely to bolster the market growth. The rising penetration of e-gift cards will further propel the market in the business strategy of the corporate sector. Gift cards have proven to be an effective method of building company-client relations by enhancing customer engagement. In terms of region, the tier-1 cities of India, such as Bangalore, Mumbai, Delhi, Chennai, and Hyderabad, are likely to witness a rise in the sales of the gift cards, owing to the thriving food and beverage, health, wellness and beauty, books and media products sectors, among others.

The diversified gift cards from Amazon (NASDAQ: AMZN) have attracted several corporate giants. These gift cards include e-gift cards with instant delivery, physical gift cards with a pre-loaded balance, brand vouchers for travelling, shopping, corporate/bulk gift cards targeted towards employee, and partner gifting, and many more. The e-gift cards have gained significant popularity due to the growing digitalisation and the increasing penetration of electronic devices ranging from mobile phones, tablets, computers, and laptops.

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Market Breakup by Card Types, Products, Business Types, Application, Distribution Channels, and Region:

• The market is segmented on the basis of card types into closed-loop card and open-loop cards.

• The products in the market include digital gift cards and physical gift cards.

• The industry, on the basis of business type, can be segmented into Business to Business (B2B) and Business to Consumer (B2C).

• The significant applications of the product include food and beverages, health, wellness and beauty, apparel, footwear and accessories, books and media products, consumer electronics, kid products, restaurants and bars, among others.

• The distribution channels of the product include retail and corporate, among others.

Key Findings of the Report:

• Rapid digitalisation drives the India market for gift cards in the corporate and retail sectors.

• The growing reach of electrical and electronic devices such as mobile phones, tablets, and other smart devices will further aid the market growth.

• Over the forecast period, the rising awareness about the benefits of gift cards, which include security from fraud, theft and duplication, and increasing disposable incomes, is likely to bolster the market growth.

• The rising penetration of e-gift cards will further propel the market in the business strategy of the corporate sector.

Key Offerings of the Report:

• The EMR report gives an overview of the Indian gift cards industry for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the card types, products, business types, applications, distribution channels and significant regions of India gift cards.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Indian gift cards industry include Plasto Cards Private Limited, Creative Cards & Solutions, Creation Technics India Private Limited, Plastic Loyalty Cards, and Arahan Infotech, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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