Australian Gift Card and Incentive Card Market Forecast to Record a CAGR of 10.8% During 2020-2024

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Jun 12, 2020, 10:15 ET

DUBLIN, June 12, 2020 /PRNewswire/ -- The "Australia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2015-2024) - Covid-19 Update Q2 2020" report has been added to ResearchAndMarkets.com's offering.

Australia has done well to contain the spread of Covid-19. As a result, the overall spend on gifting and gift card is likely to be less impacted, when compared with other similar economies. Gift cards have grown in popularity, use, and sophistication in Australia since first appearing in the country in the mid-1990s.

In value terms, the gift card market in Australia has recorded a CAGR of 15.9% during 2015-2019.The gift card industry in Australia will continue to grow over the forecast period and is expected to record a CAGR of 10.8% during 2020-2024. Gift card market in the country will increase from US$ 4,174.1 million in 2019 to reach US$ 6,698.6 million by 2024.

While the adoption of gift cards, especially digital gift cards or e-gift cards has been increasing in Australia over the last few years, the current economic and social scenario is expected to help the segment gain market share at a higher rate.

During the 2020 holiday season, Australian consumers spend on gift cards (as percentage of total spend on gifts) is expected to increase significantly, compared to same time last year. Online gift card sellers such as Prezee and the shopping centers are expected to record spikes in gift card sales.

This report provides a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in Australia. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics. The report includes raw data along with structured dashboards, charts, and tables in an interactive Excel format.

Below is a summary of country level trend analyses covered across gift card segments:

Total gift market: This report provides detailed view of overall spend on gifts, broken down by retail and consumer segments. For both retail and consumer segments, this report provides a breakdown of spend on gifts by product categories (13 segments) and retail sectors (7 segments).
Gift cards: Drawing from proprietary survey results, this report provides in-depth analysis of opportunities in both open loop and closed loop prepaid gift card categories. Assesses consumer behaviour by type of consumer (retail and corporate - SMB, Mid-Tier, Large Enterprise), gifting occasion, digital gift card (e-gift card), and market share by retail sectors.
Details six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
Corporate incentive & loyalty cards: This report provides detailed market dynamics of corporate incentive cards, broadly segmented in three categories - consumer incentive card, employee incentive card, and sales/partner incentive card. It details market size and forecast at category level, by functional attribute (open loop and closed loop), and by corporate consumer segments (small scale business, mid-size business, and enterprise business).
Digital gift card (e-gift card) analysis: Provides market size and forecast for digital gift cards, broken down by retail and corporate buyers. It also includes gift card spend by occasion (retail - festivals & special celebration days, milestone celebration, self-use, other; Corporate incentive cards -consumer incentive card, employee incentive card, and sales/partner incentive card). The report also includes digital gift card adoption by company size.
Open loop and closed loop: Provides market estimates and forecasts to assess opportunities in open loop and closed loop gift and incentive card segments across consumer segments.
Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key KPIs related to gift card dynamics including spend by age, gender, and income level.
Retail spend: Breaks down retail spend across retail sectors (7 segments) to provide detailed insights on consumer behaviour and changing dynamics of gift card spend.
Market share by retailer: Provides market share of closed loop gift cards by key retailers in Australia.
Distribution channel analysis: Provides market share by distribution channel - online vs offline sales and 1st party vs 3rd party sales (sales through outlet of other retailers).

Companies Mentioned

Wesfarmers Ltd
Woolworths Ltd (Australia)
Metcash Ltd
Aldi Group
Harvey Norman Holdings Ltd
JB Hi-Fi Ltd
Myer LTd
Chemist Warehouse Ltd
Good Guys Inc, The
Apple Inc
Australian United Retailers Ltd
Dick Smith Electronics Pty Ltd
Australian Pharmaceutical Industries Ltd
Super Retail Group Ltd
Costco Wholesale Corp
Chevron Corp

For more information about this report visit https://www.researchandmarkets.com/r/u98fcl

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