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The Ultimate Guide to the B2B Gift Card Market in Lithuania

Discover the latest trends, top brands, and insights into the B2B gift card industry in Lithuania

GENERAL FACTS ON

Lithuania

2.88M

Population

Vilnius 

Capital

Lithuanian

Official language

Euro

Currency

National holidays

16th February (Day of Restoration of the State of Lithuania), 11th March (Day of Restoration of Independence of Lithuania), 24th June (St. John’s Day), 6th July (Statehood Day)

Lithuania gift card market size

Owed to its small size and population, there are no exact numbers on the size of Lithuania’s gift card market. However, as a member of the European Union, it is likely that general EU trends will influence the growth of the gift card market in the country. The gift card industry in Europe will continue to grow over the forecast period and is expected to record a CAGR of 6.4% during 2024-2028. The gift card market in the region will increase from US$ 66.2 billion in 2023 to reach US$ 91.7 billion by 2028.

Lithuania has positioned itself as a leading hub in digital innovation and FinTech in the EU, attracting FinTech companies and granting e-money licenses to several providers, as well as investing in blockchain technology. This has led to a strongly established e-commerce industry and an extremely high e-participation of the population as ranked by the United Nations.

Digitalisation and e-commerce are expected to continue their steady rise, with more people using the internet to purchase goods and make transactions. As seen in other countries, this will likely lead to a widespread adoption of e-gift cards replacing the conventional physical gift card. Moreover, as firms are increasingly using gift cards as part of their employee reward schemes, more local brands will likely try to digitise their presence. 

Country gift card market size

Lithuania gifting traditions

  • Strong Cultural Identity: Lithuania boasts a rich folklore heritage and a long history that deeply influence its modern cultural identity. Lithuanians are known for their hospitality, warmth, and deep respect for traditions. This cultural pride is reflected in their commitment to preserving their language, customs, and national symbols, such as the Lithuanian flag and traditional attire. 


  • Importance of Traditions: Many Lithuanian traditions are closely tied to religious practices, with a significant portion of the population identifying as Roman Catholic. Religious events, such as Easter and All Saints’ Day, are particularly important, and they are often observed with specific ritual. 


  • Celebrations: Lithuania has a rich calendar of festivals, national holidays, and community gatherings, which are central to social life. Celebrations often involve family and community, with gifts exchanged during major holidays like Christmas and on personal occasions such as birthdays, weddings, and christenings. 


  • Art of Gifting: Gift-giving is a common practice when invited to someone's home in Lithuania. Gifts tend to be modest and thoughtful, as expensive and lavish gifting may be seen as excessive. The gesture of giving is often more important than the gift itself, and sincerity is highly valued. Handcrafted or locally made items are particularly appreciated, reflecting a connection to Lithuanian culture and craftsmanship. 


  • Business culture: Lithuania’s business culture is semi-formal, with a strong emphasis on professionalism and respect. While gifts are not customary during the initial business meeting, small tokens of appreciation may be acceptable once a relationship has been established. 


  • Corporate Gifting: It's important to avoid overly personal or expensive gifts in a business context, as these could be misinterpreted. In a business context, when presenting a gift, it is customary to do so with both hands, reflecting respect and consideration. 

Gift card regulations in Lithuania

Here are some general points about gift card regulations in Lithuania as of August 2024: 


  • EU regulations apply 

  • Expiry dates must be displayed  

  • Terms and Conditions have to be clear and transparent 

It's important to note that regulations may change, so always check the latest guidelines with Lithuania's government or appropriate regulatory bodies. Moreover, the specifics and prerequisites might differ based on the gift card type, its provider, and other considerations.

If you're considering buying or utilizing gift cards in Lithuania, ensure you read the issuer's terms and conditions and consult with legal experts if necessary

Popular gift cards in Lithuania

Popular gift card brands
  • Boozt: Wide selection of exclusive brands to form the perfect online shopping destination for all fashion lovers  


  • The Jewellery Room: Give a gift that lasts forever – The Jewellery Room has curated a unique jewellery selection from the world’s best designers 

     

  • H&M: One of the most well-known fashion brands in the world offers stylish clothes at best prices for the whole family 


  • Global Hotel Card: The premier gift card for hotels and vacation rentals worldwide, offering more than 500,000 places to stay – Never has finding the perfect accommodation been any easier  

Benefits of B2B gifting in Lithuania

  • Strengthening Business Relationships: B2B Gifting enhances relationships by showing appreciation, fostering loyalty, and creating long-term partnerships 


  • Cultural Alignment and Personalisation: Tailoring gifts to Lithuanian customs and traditions increases their impact, making recipients feel valued and respected 


  • Enhancing Brand Visibility: Corporate gifts with branding elements increase brand awareness and visibility among key business stakeholders in Lithuania 


  • Boosting Employee Morale: B2B gifts can be used to recognise and reward employees, boosting morale and fostering a positive company culture  

The Global Gift Card 

Looking to strengthen your corporate ties in Lithuania’s innovative and growing market? Thoughtful business gifting for business events or during the holiday season shows professionalism and partnership. With GoGift, you’ll deliver the right message—at the right moment.

Physical and digital versions of The Global Gift Card
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