Gift card market evolving
From personalization to hyper-personalization
Personalization has always been a major strength of gift cards. Today, offering visual customization, choosing the amount, adding video messages, and other personalized options matter more than ever in the gift card market.
But we’re now entering the era of hyper-personalization.
Augmented reality (AR) and artificial intelligence (AI) are transforming the customer experience. These innovations mark a major step forward, pushing the boundaries of customization in the gift card market.
Nearly one-third of consumers are already interested in the possibilities of generative AI. They’re looking for enhanced offers and unforgettable immersive experiences. Gift recipients can now interact with their gift cards in entirely new ways.
However, technological hurdles remain — especially the still-limited adoption of AR/VR devices. According to Statista Market Insights, around 120 million people globally currently use a virtual or augmented reality headset. While this number is expected to double in the coming years, it will still fall short of 250 million users by 2027 — a relatively small share of the world’s population.
The eco-friendly gift card
Sustainability has become a top priority for retailers. At Global POS, we’ve already taken numerous steps to meet this growing demand — and the evolution is far from over.
Our commitment to sustainability and eco-conscious practices drives us to seek viable and affordable solutions.
Sustainability has become a top priority for retailers. At Global POS, we’ve already taken numerous steps to meet this growing demand — and the evolution is far from over.
Our commitment to sustainability and eco-conscious practices drives us to seek viable and affordable solutions.
However, the main barrier remains the cost of sustainable materials. For instance, a fully biodegradable, plantable physical gift card is still expensive to produce. Additionally, print quality on these eco-cards could still be improved. Retailers may need to pass these costs on to customers — a tough sell in times of inflation.
Despite these challenges, rising consumer demand for eco-friendly products is pushing retail players to constantly innovate. As production technology improves and demand grows, sustainable gift cards will likely become more affordable — and accessible to a wider audience.
The future looks bright for a gift card market that’s both innovative and environmentally responsible!
What about crypto in the gift card market?
Looking ahead, gift cards could incorporate cryptocurrencies for more secure transactions. Blockchain integration into gift card programs could also ensure authenticity and full traceability of these payment methods.
Blockchain promises to revolutionize the gift card market in the coming years. However, to make that happen, consumers need to be reassured — as the crypto space is still perceived as volatile and speculative.
In the meantime, you can already accept crypto payments in your stores!
The gift card market is undergoing major transformation. Personalization, fueled by cutting-edge technology, is booming. Environmental awareness and the integration of cryptocurrencies are bringing exciting new opportunities. Retailers need to move quickly to embrace these trends, meet consumer expectations, and stay competitive!
