Local government bodies, around the world, have increasingly used gift cards as a promotional tool to boost the vaccination rate in their respective regions. This trend has further continued in 2023, especially in the United States, where city and health officials are increasingly using gift cards as a tool to increase public awareness about the continued availability of the Covid-19 booster.
Over the last four to six quarters, gift card incentive programs have been successful to encourage individuals to get vaccinated. In 2023, health officials are attempting to further drive vaccination rates through gift cards.
According to a report from the Centers for Disease Control and Prevention, over 80% of the Americans have been vaccinated with the first dose of Covid-19 vaccine. However, less than 20% of the eligible population has received the latest booster dose that was authorized in August 2022. The slow uptake by individuals in receiving the bivalent booster has prompted the launch of many more gift card incentive programs, like the one announced by Cook County Health, around the United States.
All of these gift card incentive programs will not only accelerate the vaccination numbers but will also support individuals who are struggling with the rising cost of living. Over the last few months, many city officials, including in the United States and the United Kingdom, have launched gift card programs to support individuals that are reeling under the pressure of growing inflation and surging cost of living. City Councils in La Habra, Upland, and Portland are among the many that have launched gift card programs for their citizens to alleviate the cost of living pressure.
From the short to medium-term perspective, PayNXT360 expects more such gift card program launches to assist individuals with their monthly budget. This, coupled with the incentive gift card program launches for accelerating vaccination rate in the United States, will aid the growth of the gift card industry in the North American market over the next 12 months in 2023.
In the global market, too, PayNXT360 expects local and central government entities to keep leveraging the growing popularity of gift cards to promote flu and other vaccinations among their citizens from the short to medium-term perspective. Furthermore, gift cards are also expected to be widely used as a disbursement tool in 2023. Amid the rising inflation and cost of living pressures, many government bodies are expected to turn to gift cards in their quest to assist their citizens with monetary aid. All of these factors will keep supporting the gift card industry's growth in 2023.
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