GIFT CARD MARKET ANALYSIS

Gift Card Market, By Type (Universal accepted open loop, Restaurant closed loop, Retail closed loop, Miscellaneous closed loop, E-Gifting), By Merchant (Restaurant, Department store, Grocery stores/food supermarket, Discount store, Coffee shop, Entertainment, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Recent Developments:

In April 2021, Thoughtworks, a global technology company that provides software design and delivery, and tools and consulting services, launched a gift card. According to that, for retailers, gift cards have become potential entry points to guide the customers into the closed loop of payment, membership and ordering system. They can cultivate users to generate new expenditure habits.
In July 2020, Apple Inc. launched universal gift card for hardware, software, and services. This card is promoted as being "for everything and everyone," and it can be used for products, accessories, apps, games, music, movies, TV shows, cloud, and more. Apple Inc is a leading designer, developer, and seller of consumer electronics, computer software, and online services. The company's product line includes the iPhone, iPad, Mac, Apple Watch, and Apple TV, with operating systems such as iOS and macOS.

Mergers and Acquisition:

In June 2020, Target Corporation acquired technology assets from Deliv, a crowd sourced, last-mile logistics company. The acquisition included Deliv's proprietary technology that assists in the batching and routing of deliveries. Target Corporation is a retail corporation that operates a chain of discount department stores and hypermarkets.