Gift Cards are a Popular Gift This Season

December 29, 2020 at 7:10 PM in Cheapdigitaldownload update, Gaming News, GNews with no comments

Because of the current situation, digital sales are at a record high whether it be for video games, merch, movies, e-books and more.

With all the online purchases, platforms, and services, the perfect gift to give right now are digital gift cards.

By  Author Ingo  Ingo  |  Author Daniel Burrows  Windfell

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2020 has been a strange year for a lot, but the gift card industry has seen some steady growth both in digital and physical form.

Gift card sales became lucrative because of the lockdown measures of COVID-19. The analysis of Gift Card & Voucher Association and KPMG UK resulted in a 50% increase in sales for the digital gift cards.

Mageplaze.com suggests that the trend will likely continue and by 2025 it could possibly reach more than $500 billion

Gift Card Stats

When shoppers were asked why they buy giftcards, the two biggest reasons are that it is easier and faster. Also, the person given the gift card would get the chance to choose a gift they actually like.

Why Buy Gift Cards

here are two kinds of gift cards. One is close-loop and the other is open loop.

Closed-loop gift cards are cards that are sold in a particular store only and can only be used in that store.

Open-loop gift cards are like credit cards where you are able to use them in different stores that accept them.

We have a comparison in the sales of gift cards from 2018 up until the lockdown of 2020 and you can see a huge jump.

Gift Card Purchase Graph

Right now the digital sales of the gaming industry is at a record high because of the shops being closed due to the coronavirus restrictions.

This is the same with the gift cards according to game CEO Felix Falk who said, “enable good and sage entertainment…”

     
Author Ingo

Ingo

Ingo is fast! Studied e-commerce and has his roots for now in lively Germany. At the same time, as an ambitious influencer consultant, he is close to gaming communities & game developers. He often knows what trends are currently going on. Ingo has a special fascination as game review editor.