If you've decided to offer gift cards on your website,
you're not alone. The gift card industry in Europe was valued
at $140.1 billion in 2021 and is expected to grow fourfold by 2032,
a 12.4% compound annual growth rate (see more here).
Closed-loop gift cards, which are limited to purchasing good and
services at the merchant listed on the card, are a terrific way to
gain new business and increase sales. Open-loop gift cards offer
even greater flexibility, as they can be used in a number of
different businesses. Many of us have discovered a new site thanks
to a thoughtful gift card. Not to mention that most of us tend to
spend more than just the value of the gift card.
Irrespective of the gift card type, if you are going to offer
gift cards on your online retail site, you need to communicate
clear, consistent guidelines on the card's value and validity
as required by EU legislation. These are usually set forth in the
terms and conditions. Both seller and purchaser
