Consumers and businesses are increasingly giving gift cards, which are much more likely to be used and have rocketed in popularity in recent years. In fact, the U.S. gift card market is projected to continue its significant growth over the next decade, jumping to $1.4 billion by 2033. That represents an annual growth of nearly 18%. Driving the appeal? Purchasers opting for an alternative to giving cash and allowing recipients to choose their own gifts.

As they increasingly become part of the operational strategy, here are three trends emerging in the gift card market that will shape the path forward.