As we wrap up 2024, it’s clear that gift cards have cemented their place as a vital force in retail, eCommerce, and corporate incentives. From driving customer loyalty to capturing holiday shopping sprees, gift cards have been the unsung heroes of the year. Let’s dive into the standout trends, innovations, and milestones that made 2024 a remarkable year for gift cards.
Gift cards: the powerhouses of 2024
This year, gift cards proved once again why they’re more than just a convenient present. They became key players in customer retention strategies, self-use habits, and corporate gifting programs. Retailers who invested in expertly managed gift card programs (hello, Jigsaw partners! 🙌) unlocked revenue growth like never before.
💡 Did you know? In 2024, the UK gift card market grew by over 18.4%, reaching an estimated value of $1,296.06 billion.
Whether it was a consumer snagging a digital gift card during Black Friday or a company rewarding employees with branded cards, the demand soared across every channel.
The rise of omni-channel excellence
Shoppers in 2024 demanded flexibility, and brands that embraced omni-channel gift card strategies reaped the rewards. From physical cards in beautifully designed packaging to instant digital delivery via apps, customers valued seamless redemption and choice.
Brands that partnered with Jigsaw took this a step further, ensuring their gift cards were accessible everywhere their customers shopped—be it online, in-store, or through corporate bulk purchases.
✨ Pro tip for 2025: ensure you’re making the most of EVERY channel!
Holiday peaks hit new heights
If there’s one takeaway from 2024, it’s this: the holiday season remains the king of gift card sales. The last quarter of the year saw unprecedented demand, with some retailers recording a staggering 10.4% increase in sales compared to 2023.
Gift cards aren’t just stocking fillers; they’re the go-to choice for last-minute shoppers and self-gifters alike. Plus, it wasn’t just about convenience—brands that tied gift card promotions to loyalty programmes saw a huge uptick in redemptions and repeat purchases.
Innovation trends shaping the industry
The gift card market wasn’t just about growth in 2024; it was about innovation. Here are some of the trends that defined the year:
- Customisation on demand
Shoppers loved being able to personalise their gift cards with custom messages, designs, and even photos. Retailers who embraced these features saw higher engagement rates and increased sales.
- Self-use gift cards boomed
Consumers increasingly treated themselves with gift cards, whether for budgeting or snagging exclusive discounts. This trend added a new dimension to customer engagement.
- Corporate gifting got smarter
Businesses leaned into gift cards as rewards and incentives, with digital cards becoming the preferred choice for their speed and flexibility.
- Sustainability matters
Many retailers transitioned to eco-friendly physical gift cards or focused on digital-first programmes, reducing waste and appealing to eco-conscious consumers.
Looking ahead: 2025 and beyond
2024 has set the stage for what’s sure to be an exciting future for the gift card industry. As more brands recognise the potential of well-managed gift card programmes, we’ll likely see even greater innovation, from enhanced redemption systems to gamified loyalty integrations.
At Jigsaw, we’re proud to work with so many incredible brands, helping them unlock the full potential of their gift card programmes. From driving record-breaking holiday sales to refining omni-channel strategies - what a year it’s been.
Wrapping up 🎁
As we close the books on 2024, one thing is clear: gift cards are no longer just a product—they’re a strategy. And with the right tools, insights, and expertise, they’re a strategy that can transform your business.
Whether you’re looking to launch a gift card programme or elevate your existing one, Jigsaw is here to help. Here’s to another year of remarkable growth and endless possibilities. 🥂
Ready to make 2025 your best year yet? Talk to us today to find out how!
