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IndustryUpdate

carefully to avoid the long-term ripple effects of debt.
Unlock Your Global gift card market headed for more growth

The global gift card market, driven by ecommerce
Growth Potential growth and AI-powered innovations, is projected to
grow by $1.1 billion from 2024 to 2028, at a CAGR
of 14.46 percent. Key trends include a shift to open-
With a BCP Loan loop gift cards and rising demand for digital options
among millennials and Gen Z. Popular across retail,
corporate and digital sectors, gift cards can enhance
customer loyalty and streamline gifting. However,
challenges like expiration and leftover balances
remain. Major players include Blackhawk Network,
Fiserv and InComm Payments, with strategic alliances
fueling growth in both physical and digital spaces.
Millennials, Gen Z to SMBs:
Get online or be left behind
A recent GoDaddy survey revealed that 80 percent
of Gen Z and millennial respondents research small
businesses online before purchasing, emphasizing the
importance of a strong digital presence. Key deciding
factors include reviews, secure payment options, and
updated websites or social media. A lack of online
credibility—such a lack of reviews, incomplete web-
sites or outdated content—can deter shoppers. Social
media expectations differ by generation, with Gen
Z favoring Instagram and TikTok, while millennials
prefer Facebook. Entrepreneurs, researchers advised,
can enhance credibility and sales by leveraging tools
for SEO, branding and content creation to meet these
consumer preferences effectively.

SMBs bullish on future growth
The latest Small Business Cash Flow Trend Report from
OnDeck and Ocrolus, which surveyed 525 businesses
nationwide, found optimism among small businesses,
with 92 percent expecting growth in the next six
months. Many family-owned businesses (58 percent)
aim to pass ownership to the next generation, while 62
percent have adopted alternative payment methods
BOCA like Zelle and Venmo.
CAPITAL A notable shift sees 73 percent of businesses bypass-
PARTNERS ing traditional banks for non-bank lenders. Business
leaders emphasized the importance of accessible
capital and cash flow insights in driving small busi-
Get a loan from $100,000 to ness success, especially amid seasonal and economic
challenges.
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PARTNERSHIPS

Call Now: 844-531-4957 Two powerhouses team up to dump plastic
bocacapitalpartners.com Blackhawk Network and Mastercard are advancing
environmental sustainability by transitioning open-
loop prepaid cards from plastic to paper-based mate-

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