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United States Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2023 Update: Featuring WalMart, Amazon, Target, Costco, Apple & More
United States Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2023 Update: Featuring WalMart, Amazon, Target, Costco, Apple & More
PR Newswire
DUBLIN, March 14, 2023
DUBLIN, March 14, 2023 /PRNewswire…
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United States Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update: Featuring WalMart, Amazon, Target, Costco, Apple & More
PR Newswire
DUBLIN, March 14, 2023
DUBLIN, March 14, 2023 /PRNewswire/ -- The "United States Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
Gift card market in 2022 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.
- In the United States, gift cards are among the most popular payment methods. With the adoption of gift cards high among consumers across different demographics, the market has recorded consistent growth over the last three to four years. Amid the current macroeconomic environment, consumers have been found to hold back on their monthly spending to ensure they remain under the budget.
- As a result, retailers have turned to gift card programs to drive consumer spending and sales, thereby achieving incremental revenue. Consumers often spend more than the value of gift cards. The publisher expects more and more retailers across the United States to adopt and launch gift card programs to keep driving their sales from the short to medium-term perspective.
- Gen Z consumers are expected to drive the sales of gift cards during the 2022 holiday season
- Gen Z consumers are again entering the workforce and unemployment levels have dropped significantly lower in the United States, compared to the global pandemic period. Consequently, Gen Z is expected to drive the sales of gift cards during the 2022 holiday season.
- The demand for physical gift cards seems to be making a comeback after the covid period though digital gift cards continue to outperform in terms of growth rate.
- Starbucks reported US$181 million in unused gift cards and loyalty accounts for FY 2021
- Starbucks has one of the largest gift card and loyalty programs in the world. The firm is generating billions of dollars in revenue each year, and many other brands have also launched their stored-value program seeing the growth achieved by Starbucks. In addition to driving more sales, the gift card program has also resulted in higher unused revenue for the firm.
- For FY 2021, Starbucks reported that its customers did not spend US$181 million, which they have accumulated through gift cards and loyalty programs. This is approximately 1% of its total sales and 4.3% of its net income during the financial year. In FY 2020, Starbucks announced US$145 million in unused gift cards and loyalty credits.
- While the unused gift card has brought in millions of dollars for the firm, Starbucks does not disclose how exactly it is using the revenue. As a result, the Strategic Organizing Center (SOC) filed a complaint with the Securities and Exchange Commission (SEC) in November 2022. Under the complaint, the SOC has asked the SEC to investigate how the firm is utilizing unused gift cards and loyalty credits.
- Online retailers are launching gift card programs amid the growing demand during the holiday season
- With American shoppers expected to increase their spending on gift cards during the 2022 holiday season, online retailers are launching gift card programs to capitalize on the growing trend. For instance,
- In December 2022, iHerb, one of the leading online marketplaces for vitamins, minerals, and supplements, announced the launch of a digital gift card program for its shoppers in the United States. The digital gift cards are redeemable against any product available on the e-commerce marketplace. The platform is also offering customers an option to customize their gift cards by including a message before sending it to the recipient.
- From the short to medium-term perspective, more online retailers are expected to launch gift card programs to cater to the growing demand in the United States. This will keep assisting the overall industry growth.
In value terms, the gift card market in United States has recorded a CAGR of 6.0% during 2018-2022. According to the publisher, gift card industry in the country is expected to grow by 7.0% on annual basis to reach US$ 198,373.6 million in 2023.
The gift card industry in United States will continue to grow over the forecast period and is expected to record a CAGR of 5.7% during 2023-2027. Gift card market in the country will increase from US$ 185,406.3 million in 2022 to reach US$ 247,990.1 million by 2027.
This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.
Scope
Total Spend on Gifts in United States
- By Consumer Segment (Retail and Corporate)
- By Product Categories (13 Segments)
- By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments in United States
- Gross Load Value
- Transaction Value
- Unused Value
- Average Value Per Transaction
- Transaction Volume
- Average Value of Card Purchased
- Number of Cards
Gift Card Market Size by Consumer Segment in United States
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in United States
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer in United States
- By Functional Attribute
- By Occasion
- Festivals & Special Celebration Days
- Milestone Celebration
- Self-Use
- Other
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in United States
- Consumer Purchase Behaviour
- Gift Card Buyer by Age Group
- Gift Card Buyer by Income Level
- Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer in United States
- By Functional Attribute
- By Occasion
- Employee Incentive
- Sales Incentive
- Consumer Incentive
- By Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in United States
- Food & Beverage
- Health, Wellness & Beauty
- Apparel, Footwear & Accessories
- Books & Media Products
- Consumer Electronics
- Restaurants & Bars
- Toys, Kids, and Babies
- Jewelry
- Sporting Goods
- Home & Kitchen Accessories & Appliances
- Travel
- Entertainment & Gaming
- Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in United States
- Ecommerce & Department Stores
- Restaurants & Bars
- Supermarket, Hypermarket, Convenience Store
- Entertainment & Gaming
- Specialty Stores
- Health & Wellness
- Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in United States
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
- Wal-Mart Stores Inc
- Kroger Co
- Amazon.com Inc
- Target Corp
- Costco Wholesale Corp
- Albertson's Inc
- Home Depot Inc, The
- Apple Inc
Reasons to buy
- In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2018-2027) for gift cards and incentive cards in the United States.
- Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
- Get insights into consumer attitude and behaviour in the United States: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
- Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
- Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
For more information about this report visit https://www.researchandmarkets.com/r/dzkgl1
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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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“What’s More Tragic Is Capitalism”: BLM Faces Bankruptcy As Founder Cullors Is Cut By Warner Bros
"What’s More Tragic Is Capitalism": BLM Faces Bankruptcy As Founder Cullors Is Cut By Warner Bros
Authored by Jonathan Turley,
Two years…
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Two years ago, I wrote columns about companies pouring money into Black Lives Matter to establish their bona fides as “antiracist” corporations. The money continued to flow despite serious questions raised about BLM’s management and accounting. Democratic prosecutors like New York Attorney General Letitia James showed little interest in these allegations even as James sought to disband the National Rifle Association (NRA) over similar allegations. At the same time, Black Lives Matter co-founder Patrisse Cullors cashed in with companies like Warner Bros. eager to give her massive contracts to signal their own reformed status. It now appears that BLM is facing bankruptcy after burning through tens of millions and Warner Bros. cut ties with Cullors after the contract produced no — zero — new programming.
Some states belatedly investigated BLM as founders like Cullors seemed to scatter to the winds.
Gone are tens of millions of dollars, including millions spent on luxury mansions and windfalls for close associates of BLM leaders.
The usual suspects gathered around the activists like former Clinton campaign general counsel Marc Elias, who later removed himself from his “key role” as the scandals grew.
When questions were raised about the lack of accounting and questionable spending, BLM attacked critics as “white supremacists.”
Warner Bros. was one of the companies eager to grab its own piece of Cullors to signal its own anti-racist virtues. It gave Cullors a lucrative contract to guide the company in the creation of both scripted and non-scripted content, focusing on reparations and other forms of social justice. It launched a publicity campaign for everyone to know that it established a “wide-ranging content partnership” with Cullors who would now help guide the massive corporation’s new programming. Calling Cullors “one of the most influential thought leaders in American public life,” Warner Bros. announced that she was going to create a wide array of new programming, including “but not limited to live-action scripted drama and comedy series; longform/event series; unscripted docuseries; animated programming for co-viewing among kids, young adults and families; and original digital content.”
Some are now wondering if Warner Bros. ever intended for this contract to produce anything other than a public relations pitch or whether Cullors took the money and ran without producing even a trailer for an actual product. Indeed, both explanations may be true.
Paying money to Cullors was likely viewed as a type of insurance to protect the company from accusations of racial insensitive. After all, the company was giving creative powers to a person who had no prior experience or demonstrated talent in the area. Yet, Cullors would be developing programming for one of the largest media and entertainment companies in the world.
One can hardly blame Cullors despite criticizism by some on the left for going on a buying spree of luxury properties.
After all, Cullors was previously open about her lack of interest in working with “capitalist” elements. Nevertheless, BLM was run like a Trotskyite study group as the media and corporations poured in support and revenue.
It was glaringly ironic to see companies like Warner Bros. falling over each other to grab their own front person as the group continued boycotts of white-owned businesses. Indeed, if you did not want to be on the wrong end of one of those boycotts, you needed to get Cullors on your payroll.
Much has now changed as companies like Bud Light have been rocked by boycotts over what some view as heavy handed virtue signaling campaigns.
It was quite a change for Cullors and her BLM co-founder, who previously proclaimed “[we] are trained Marxists. We are super versed on, sort of, ideological theories.” She denounced capitalism as worse than COVID-19. Yet, companies like Lululemon rushed to find their own “social justice warrior” while selling leggings for $120 apiece.
When some began to raise questions about Cullors buying luxury homes, Facebook and Twitter censored them.
With increasing concerns over the loss of millions, Cullors eventually stepped down as executive director of the Black Lives Matter Global Network Foundation, as others resigned. At the same time, the New York Post was revealing that BLM Global Network transferred $6.3 million to Cullors’ spouse, Janaya Khan, and other Canadian activists to purchase a mansion in Toronto in 2021.
According to The Washington Examiner, BLM PAC and a Los Angeles-based jail reform group paid Cullors $20,000 a month. It also spent nearly $26,000 on meetings at a luxury Malibu beach resort in 2019. Reform LA Jails, chaired by Cullors, received $1.4 million, of which $205,000 went to the consulting firm owned by Cullors and her spouse, according to New York magazine.
Once again, while figures like James have spent huge amounts of money and effort to disband the NRA over such accounting and spending controversies, there has been only limited efforts directed against BLM in New York and most states.
Cullors once declared that “while the COVID-19 illness is tragic, what’s more tragic is capitalism.” These companies seem to be trying to prove her point. Yet, at least for Cullors, Warner Bros. fulfilled its slogan that this is all “The stuff that dreams are made of.”
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Biden reaches ‘tentative’ US debt ceiling deal: Report
United States President Joe Biden has urged the United States Congress to “pass the agreement right away.“
Amid growing concerns…
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United States President Joe Biden has urged the United States Congress to “pass the agreement right away.“
Amid growing concerns of a potential default by early June, United States President Joe Biden and House majority leader Representative Kevin McCarthy have reportedly reached an “agreement in principle” to raise the federal government’s multitrillion-dollar debt ceiling.
According to a May 28 report from Reuters citing two sources familiar with the negotiations, the “tentative” agreement to raise the $31.4 trillion debt ceiling was reached after a 90-minute phone call between Biden and McCarthy on May 27.
Since publication time, Biden has confirmed via Twitter the existence of an “agreement in principle," explaining that it will prevent the U.S. from facing a “catastrophic default.“
Biden noted that “over the next day,” the agreement would go to the U.S. House of Representatives and Senate. He urged both chambers to “pass the agreement right away.“
Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle.
— President Biden (@POTUS) May 28, 2023
It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. And, the agreement protects my and…
Meanwhile, McCarthy also took to Twitter to confirm the agreement in principle, alleging that Biden “wasted time and refused to negotiate for months.“
Reuters reported that while “the exact details of the deal were not immediately available,” an agreement has been made to limit the U.S. government’s spending for the next two years, excluding expenses related to national security.
“Negotiators have agreed to cap non-defense discretionary spending at 2023 levels for one year and increase it by 1% in 2025,” a source familiar with the deal said.
Related: Debt ceiling crisis: Best practices to navigate this market
This comes only weeks after U.S. Treasury Secretary Janet Yellen warned of a default risk as soon as June 1 if the debt limit isn’t suspended or raised, urging Congress to “act as soon as possible.“
Additionally, The U.S. Congressional Budget Office published a report on May 12, emphasizing that if the debt limit remains unchanged, there is a significant risk “that at some point in the first two weeks of June, the government will no longer be able to pay all of its obligations.“
In recent times, several analysts have shared a similar view that raising the debt ceiling could see more capital inflow into Bitcoin (BTC).
On May 17, MacroJack, a former Wall Street trader, warned his followers in a tweet that the U.S. debt ceiling talks are “all show.“
He emphasized how important it is to own hard assets as the dollar will be “printed into oblivion,” while stating that Bitcoin is the “fastest horse in the race.“
Meanwhile, Jesse Myers, chief operating officer of investment firm Onramp, reminded his 50,100 Twitter followers of what happened during the COVID-19 pandemic, stating that “Bitcoin was the winner during the last round of stimulus.“
He proposed the idea that history might repeat itself if the debt ceiling were to be raised, as it would prompt the Federal Reserve to print more money.
#7 - When the debt ceiling is lifted & credit-contraction leads to economic crisis...
— Jesse Myers (Croesus ) (@Croesus_BTC) April 25, 2023
They will have to print money on a massive scale.#Bitcoin was the winner during the last round of stimulus pic.twitter.com/DqhuLikQXr
Update on May 28, 2023, at 03:15: This article has been updated to include United States President Joe Biden's tweet.
Magazine: Visa stablecoin plan, debt ceiling’s effect on Bitcoin price: Hodler’s Digest, April 23-29
bitcoin btc pandemic covid-19Uncategorized
Biden reaches ‘tentative’ US debt ceiling deal: Report
United States President Joe Biden has urged both the United States House and Senate to "pass the agreement right away."
Amid growing…
Share this:
United States President Joe Biden has urged both the United States House and Senate to "pass the agreement right away."
Amid growing concerns of a potential default by early June, the United States President Joe Biden and Republican Kevin McCarthy have reportedly reached an "agreement in principle" to raise the federal government's multi-trillion dollar debt ceiling.
According to a May 28 report from Reuters, citing two sources familiar with the negotiations, the "tentative" agreement to raise the $31.4 trillion debt ceiling was reached after a 90-minute phone call between Biden and McCarthy on May 27.
Following the publication of this article, Biden has since confirmed via Twitter the existence of an "agreement in principle," explaining that it will prevent the U.S. facing a "catostrophic default."
Biden noted that "over the next day," the agreement will go the U.S. House and Senate. He urged both chambers to "pass the agreement right away."
Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle.
— President Biden (@POTUS) May 28, 2023
It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. And, the agreement protects my and…
Meanwhile, McCarthy also took to Twitter to confirm the agreement in principle, alleging that Biden "wasted time and refused to negiotate for months."
Reuters reported that while "the exact details of the deal were not immediately available," an agreement has been made to limit the U.S. government's spending for the next two years, excluding expenses related to national security.
"Negotiators have agreed to cap non-defense discretionary spending at 2023 levels for one year and increase it by 1% in 2025" a source familiar with the deal said.
Related: Debt ceiling crisis: Best practices to navigate this market
This comes only weeks after U.S. Treasury Secretary Janet Yellen warned of a default risk as soon as June 1 if the debt limit isn't suspended or raised, urging Congress to "act as soon as possible."
Additionally, The U.S. Congressional Budget Office (CBO) published a report on May 12, emphasizing that if the debt limit remains unchanged, there is a significant risk "that at some point in the first two weeks of June, the government will no longer be able to pay all of its obligations."
In recent times, several analysts have shared a similiar view that raising the debt ceiling could see more capital inflow into Bitcoin (BTC)
MacroJack, a former Wall Street trader, warned his followers in a tweet on May 17 that the U.S. debt ceiling talks are "all show."
He emphasized how important it is to own hard assets as the dollar will be "printed into oblivion," while stating that Bitcoin is the "fastest horse in the race."
Meanwhile, Jesse Myers, chief operating officer of investment firm Onramp reminded his 50,100 Twitter followers of what happened during the Covid-19 Pandemic, stating that "Bitcoin was the winner during the last round of stimulus."
He proposed the idea that history might repeat itself if the debt ceiling were to be raised, as it would prompt the Federal Reserve to print more money.
#7 - When the debt ceiling is lifted & credit-contraction leads to economic crisis...
— Jesse Myers (Croesus ) (@Croesus_BTC) April 25, 2023
They will have to print money on a massive scale.#Bitcoin was the winner during the last round of stimulus pic.twitter.com/DqhuLikQXr
Update on May 28, 2023, at 03:15: This article has been updated to include United States President Joe Biden's tweet.
Magazine: Visa stablecoin plan, debt ceiling’s effect on Bitcoin price: Hodler’s Digest, April 23-29
bitcoin btc pandemic covid-19
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