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.

The gift card market in Australia has recorded steady growth amid rising popularity among consumers and brands. In 2023, the rising cost of living is expected to further drive the demand among consumers in Australia. The ecosystem has become increasingly competitive as more and more brands are leveraging gift card programs to drive their sales and revenue, owing to the popularity of payment methods among consumers in Australia.

Furthermore, to offer consumers an innovative gift card, providers are launching multi-brand solutions in the country. Such gift card solutions are expected to accelerate the growth of the gift card industry from the short to medium-term perspective. Moreover, global gift card providers are also entering into mergers and acquisition deals to strengthen their position in the growing Australian gift card market.

Shoppers are turning to gift card solutions to combat the surging product prices in Australia

With inflation and cost of living pressures, Australian shoppers are seeking safe haven in gift cards. Many retailers have launched discounted gift card program, which allows shoppers to shop for anything from groceries to fuel and more.

  • Coles, one of the leading supermarkets in the country, launched a discounted gift card program in its effort to ease the consumer burden who are struggling with rising inflation and cost of living. Shoppers can use the gift cards wherever Mastercard is accepted, thereby allowing them to buy anything from groceries to power bills and fuel.
  • NRMA, the Australian organization that offers roadside assistance, also launched a discounted gift card program. Cardholders can use the gift cards to several retailers including Big W, Rebel, and JB Hi-Fi. The firm has experienced an uptake of 45% for these gift cards, as the payment solution offers them savings ranging from 3% to 10% at times when Australians are struggling with inflation.
  • Woolworths, another Australian supermarket retailer, has a gift card promotion for consumers. The firm provides shoppers with bonus points, which they can use at a later date for shopping.


These gift card programs are expected to gain more popularity over the next few quarters, thereby driving the growth of the industry in Australia from the short to medium-term perspective.

Gift card providers are entering into mergers and acquisition deals to strengthen their position in the Australian market

Amid the surging gift card industry landscape and growing competitiveness in the market, global gift card providers are buying out domestic firms to further strengthen their position in Australia. For instance,

  • In October 2022, InComm Payments, a leading global payments technology firm, announced that the firm had acquired The Card Network, a domestic gift card provider. This acquisition will assist InComm Payments to offer a customizable and personable gift card solution to consumers in the country. With a proven record in the multi-brand gift card category, The Card Network has a strong network of retailers offering in-store gift card shopping capabilities. Furthermore, consumers can also purchase gift cards online.


With the industry becoming increasingly competitive amid the presence of several domestic and global players, PayNXT360 expects more such acquisition deals from the short to medium-term perspective.

Providers are launching multi-brand gift card solutions to drive popularity among Australian shoppers

To capture more share in the growing Australian gift card industry, firms are launching innovative solutions, including gift card payment tools that can be used at a variety of different retailers.

  • In October 2022, Blackhawk Network, one of the leading global players in the segment, announced the launch of its multi-brand gift card program for Australian shoppers. Dubbed the Ultimate Gift Card for Everyone, the gift card solution can be used at 64 brands across different categories, including sports, travel, food, gaming, and wellness. The firm has made the multi-brand gift card available both online and offline. Retailers such as Woolworths, Coles, and Big W, are offering gift cards at their stores in Australia.


With more and more Australian shoppers planning to buy multi-brand gift cards, PayNXT360 expects more providers to launch such solutions in the country from the short to medium-term perspective. This will keep assisting the overall industry growth over the next three to four years, while also driving the competitive landscape in Australia.

In value terms, the gift card market in Australia has recorded a CAGR of 11.1% during 2018–2022. According to PayNXT360, gift card industry in the country is expected to grow by 10.0% on annual basis to reach US$ 6606.8 million in 2023.

The gift card industry in Australia will continue to grow over the forecast period and is expected to record a CAGR of 9.1% during 2023-2027. Gift card market in the country will increase from US$ 6007.8 million in 2022 to reach US$ 9372.9 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.