Sweden’s Gift Card Market: A Growing Trend and Its Implications
The gift card market in Sweden is experiencing steady growth, with a projected CAGR of 6.9% from 2025 to 2029. According to a recent report by ResearchAndMarkets.com, the market is expected to reach US$2.48 billion by 2029, up from its 2024 value of US$1.76 billion.
Market Growth and Trends
The Swedish gift card market has been on an upward trajectory since 2020, with a CAGR of 8.5% during the period 2020-2024. This growth can be attributed to several factors, including the increasing popularity of digital and e-gift cards, the convenience they offer, and the wide acceptance by retailers across various sectors.
Consumer Segments and Product Categories
The report provides a detailed analysis of the Swedish gift card market, segmented by consumer segments (retail and corporate), product categories (closed-loop and open-loop), and retail sectors (supermarkets, hypermarkets, department stores, specialty stores, and others).
Distribution Channels and Key Occasions
The report also covers the distribution channels of gift cards, including physical stores, e-commerce platforms, and mobile applications. Furthermore, it provides insights into the key occasions that drive gift card sales, such as festive seasons, birthdays, and anniversaries.
Demographic Trends and Market Share Statistics
The report offers a snapshot of consumer behavior and retail spending dynamics, including demographic trends and market share statistics of leading retailers. This information is essential for businesses looking to tap into the Swedish gift card market.
Impact on Individuals
For individuals, the growth of the Swedish gift card market means more options and convenience when it comes to gifting. Digital and e-gift cards offer the flexibility to purchase and send gifts instantly, making them an ideal choice for last-minute gifts or those living far away.
- Easier and more convenient gifting
- Increased options for gift card designs and brands
- More opportunities to save money through discounts and promotions
Impact on the World
The growth of the Swedish gift card market is not just an isolated trend but a reflection of the global shift towards digital and contactless payments. As more countries adopt similar trends, the gift card market is expected to expand further.
- Increased competition among retailers to offer gift cards
- Increased adoption of digital and e-gift cards globally
- More opportunities for startups and fintech companies in the gift card sector
Conclusion
The Swedish gift card market is expected to continue its growth trajectory, reaching US$2.48 billion by 2029. This growth is driven by several factors, including the increasing popularity of digital and e-gift cards, the convenience they offer, and the wide acceptance by retailers across various sectors. For individuals, this trend means more options and convenience when it comes to gifting. For the world, it is a reflection of the global shift towards digital and contactless payments, with increased competition among retailers, more opportunities for startups and fintech companies, and the adoption of digital and e-gift cards on a larger scale.
The report provides a comprehensive analysis of the Swedish gift card market, covering market opportunities and risks across consumer segments, product categories, retail sectors, and distribution channels. It offers valuable insights into consumer behavior and retail spending dynamics, making it an essential resource for businesses looking to tap into the Swedish gift card market.
