Colombia Gift Cards Market Report and Forecast 2025-2034

Colombia Gift Cards Market Outlook

The Colombia gift cards market size reached approximately USD 1,090.23 million in 2023. The market is assessed to grow at a CAGR of 13.4% between 2024 and 2032 to attain a value of around USD 3,380.92 million by 2032.

Key Trends in the Market

Gift cards refer to prepaid cards that are preloaded with a certain amount of money. They can be used to make financial transactions and purchases in e-commerce and retail stores and restaurants, among others. They typically have a minimum and maximum loading amount and offer customers enhanced purchasing convenience.

• Gift cards are popular gifting items at festivals and occasions like birthdays as they are convenient, easy to use, and offer recipients the freedom to choose gifts.

• One of the key Colombia gift cards market trends include the increasing popularity of e-gift cards that can be sent directly to recipients, offering them enhanced convenience. Such cards can also be used for diverse applications, including wellness, travel, restaurants, and apparel, among others.

• Businesses are increasingly using gift cards as marketing tools to create brand awareness, promote new products, and enhance the appeal of their offerings among the targeted group. They are also offering personalised gift cards through diverse channels such as emails, SMS, and social media, among others, to enhance their return on investment (ROI).

Market Analysis

Based on type, the market is segmented into virtual card and physical card. By functional attribute, the market can be bifurcated into closed-loop card and open-loop card. On the basis of business type, the Colombia gift cards market segmentation includes B2B and B2C.

The market, based on application, is segmented into apparel, footwear and accessories, consumer goods, health, wellness, and beauty, restaurants, café, and bars, travel, tourism, and hospitality, books, media, and entertainment, grocery, and e-commerce stores, among others. By end user, the market segments include retail and corporate institutions.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Colombia gift cards market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Amazon.com Inc.

• Apple Inc.

• MercadoLibre Colombia LTDA.

• Bixxus Colombia

• AIRFILL PREPAID AB

• Éxito

• Payless ShoeSource PSS de Colombia S.A.S

• Falabella.com SAS

• El Kiosco del Regalo

• Columbia Sportswear Company

• El Corral Gourmet

• Gift Card Colombia SAS

• ARTURO CALLE SAS

• Others

Market Share by Type

According to the Colombia gift cards market analysis, physical gift cards enjoy substantial popularity as they are used by businesses to enhance brand exposure and awareness among consumers. Moreover, the emotional connection associated with physical gift cards is adding to their appeal.

Such cards go through the same POS system used for credit cards, are easier for businesses to process, and are more secure than digital cards. Meanwhile, virtual cards are eco-friendly, versatile, convenient, and enhance customer loyalty, due to which they are likely to hold a considerable portion of the Colombia gift cards market share in the forecast period.

Market Share by End User

Retailers use gift cards to increase their brand awareness, gain new customers, and enable customers to conveniently purchase products through different distribution channels. Such cards can also be used to enhance customer engagement and generate valuable data insights for retailers. Hence, the Colombia gift cards market demand is being aided by the surging attempts by retailers to improve customer loyalty, gain a competitive edge, and increase revenue.

Competitive Landscape

Columbia Sportswear Company, established in 1938, is a company that designs, markets, and sells outdoor footwear, accessories, and apparel. Some of its most popular brands include SOREL, prAna, and Mountain Hardwear, among others.

Amazon.com Inc. is a leading multi-technology company, based in Washington, the United States. The company sells around every digital and physical retail item with a third-party ecosystem. It offers personalised shopping experiences, operates cloud platform services, and is traded on NASDAQ.

Apple Inc. is one of the largest technology companies in the world. Its flagship products like iPad and iPhone as well as its software platform such as macOS and iOS enjoy enormous popularity. Some of its leading consumers are governments, organisations, customers, and small and mid-sized businesses, among others.

Other Colombia gift cards market players include MercadoLibre Colombia LTDA., Bixxus Colombia, AIRFILL PREPAID AB, Éxito, Payless ShoeSource PSS de Colombia S.A.S, Falabella.com SAS, El Kiosco del Regalo, El Corral Gourmet, Gift Card Colombia SAS, and ARTURO CALLE SAS, among others.

Key Highlights of the Report