Global Gift Card and Incentive Card Market Report 2021 - Economic Slowdown Due to COVID-19 is Changing Consumer's Gifting Pattern

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Mar 01, 2021, 14:15 ET

DUBLIN, March 1, 2021 /PRNewswire/ -- The "Global Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook): Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.

According to Q4 2020 Global Gift Card Survey, integrating gift card into mobile apps is expected to record increased investment over the next 4-8 quarters.

Leading retailers are focusing on creating a digital gift card program that can help them to increase traffic, boost sales and cultivate brand loyalty. It has become critical for retailers to embrace the new generation of mobile integrated digital/e-gift cards. Given the increasing self-use, retailers need to start viewing gift card as payment tool and enhance the value proposition with loyalty programs and option to reload.

Globally, the adoption of gift cards has seen a steady increase over the years. Consumers have been using gift cards for various transactional purposes such as exchanging it for cash, buying cryptocurrencies, and using it for regifting. The growth in adoption of gift cards is due to increase in use of gift cards for self-gifting, supported by discounts offered by retailer; as well as growth in online shopping.

Moreover, customers are becoming more cautious about their spending due to the economic slowdown - as an effect of the COVID-19. Consequently, gift cards are also offering a way to manage financial spending. Traditionally, general purpose prepaid cards have occupied this space, but ease of procurement is helping gift card gain share.

The demand for e-gift cards is showing significant growth owing to increase in acceptance of digital ecosystem which is leading consumers towards alternative gifting solutions such as e-gift cards. The trend is also supported by the current coronavirus pandemic. The fear of spreading the virus has forced individuals to become more cautious about what they touch, making them choose e-gifts over physical ones. Furthermore, the global economic slowdown due to COVID-19 is also changing consumer's gifting pattern.

Moreover, rising mobile commerce and proximity payment is making it essential for retailers and fintech companies to introduce gift cards that can be integrated into mobile apps for making payment. This becomes more relevant as more consumers adopt contactless mobile payment due to COVID-19.

In addition, mobile wallet providers are also offering various cashback offers on purchase of gift cards on their mobile application. All these factors along with convenience are driving the growth of mobile gift cards.

This report details the impact of economic slowdown along with change in business and consumer sentiment due to disruption caused by the COVID-19 outbreak on the gift card industry.

Though growth of gift card industry has been impacted due to pandemic, there are certain segments which will gain market share. There are interesting trends emerging across various segments, which are expected to fundamentally reshape gift card industry dynamics. Despite near-term challenges, medium to long term growth story of gift cards remains strong.

Scope

This bundled offering provides the following detailed gift card market opportunity at country level

Total Spend on Gifts

By Consumer Segment (Retail and Corporate)
By Product Categories (13 Segments)
By Retail Sectors (7 Segments)

Gift Card Market Size by KPIs across Consumer Segments

Gross Load Value
Transaction Value
Unused Value
Average Value Per Transaction
Transaction Volume
Average Value of Card Purchased
Number of Cards

Gift Card Market Size by Consumer Segment

Retail Consumer
Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size

By Retail Consumer
By Retail Purchase Occasion
By Corporate Consumer
By Corporate Purchase Occasion
By Company Size

Gift Card Market Size by Retail Consumer

By Functional Attribute
By Occasion
Festivals & Special Celebration Days
Milestone Celebration
Self-Use
Other
Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics

Consumer Purchase Behaviour
Gift Card Buyer by Age Group
Gift Card Buyer by Income Level
Gift Card Buyer by Gender

Gift Card Market Size by Corporate Consumer

By Functional Attribute
By Occasion
Employee Incentive
Sales Incentive
Consumer Incentive
By Scale of Business
Budget Allocation Trend for 2021

Gift Spend by Product Categories (Split by Retail and Corporate Consumers)

Food & Beverage
Health, Wellness & Beauty
Apparel, Footwear & Accessories
Books & Media Products
Consumer Electronics
Restaurants & Bars
Toys, Kids, and Babies
Jewelry
Sporting Goods
Home & Kitchen Accessories & Appliances
Travel
Entertainment & Gaming
Other

Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)

Ecommerce & Department Stores
Restaurants & Bars
Supermarket, Hypermarket, Convenience Store
Entertainment & Gaming
Specialty Stores
Health & Wellness
Travel

Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)

Gift Card Online Sales
Gift Card Offline Sales
1st Party Sales
3rd Party Sales
Sales Uplift

Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:

Cencosud SA
Carrefour SA
Coto CICSA
MercadoLibre Inc
Importadora y Exportadora de la Patagonia SA
Wal-Mart Stores Inc
Garbarino SA
Wesfarmers Ltd
Woolworths Ltd (Australia)
Metcash Ltd
Aldi Group
Harvey Norman Holdings Ltd
JB Hi-Fi Ltd
Apple Inc
Casino Guichard-Perrachon SA
Natura Cosmeticos SA
Lojas Americanas SA
Adeo Groupe
Magazine Luiza SA
George Weston Ltd
Empire Co Ltd
Costco Wholesale Corp
Metro AG
Canadian Tire Corp Ltd
Home Depot Inc, The
Liquor Control Board of Ontario
Hudson's Bay Co
Home Hardware Stores Ltd
Best Buy Co Inc
Alibaba Group Holding Ltd
JD.com Inc
Auchan Group SA
Bailian Group Co Ltd
Yonghui Superstores Group
E Leclerc
ITM Enterprises SA
Systeme U Centrale Nationale Sa
Schwarz Beteiligungs GmbH
Amazon.com Inc
Edeka Zentral AG & Co KG
Rewe Group
dm-Drogerie Markt GmbH & Co KG
Tengelmann Group, The
Dirk Rossmann KG
Globus Holding GmbH & Co
Inter Ikea Systems BV
H&M Hennes & Mauritz AB
Flipkart Online Services Pvt Ltd
Tata Group
Future Group
Reliance Group
Aditya Birla Group
K Raheja Corp
Salim Group
Trans Retail Indonesia PT
Matahari Putra Prima Tbk PT
Sumber Alfaria Trijaya Tbk PT
Delhaize Group Sa
Kompas Gramedia Group
Ace Hardware Corp
Coop Italia scarl
CONAD - Consorzio Nazionale Dettaglianti Scrl
Esselunga SpA
Selex Gruppo Commerciale SpA
Gruppo Eurospin
Crai Secom SpA
Organizacion Soriana SAB de CV
Grupo Comercial Chedraui Sa de CV
Controladora Comercial Mexicana SAB de CV
Farmacias Similares SA de CV
Corporativo Fragua Sa de CV
SM Retail Inc
Puregold Price Club Inc
Rustan Group of Cos
Seven & I Holdings Co Ltd
Hutchison Whampoa Ltd
San Miguel Corp
Magnit OAO
X5 Retail Group NV
Dixy Group OAO
Lenta OOO
M Video OAO
DNS Group
Shoprite Holdings Ltd
Pick 'n' Pay Stores Ltd
Internationale Spar Centrale BV
Woolworths Holdings Ltd (South Africa)
Tesco Plc
Central Retail Corp
Home Product Center PCL
Mall Group Co Ltd, The
Charoen Pokphand Group
Consumer Co-operative Union (CCU)
Landmark Group
Emke Group
Damas International Ltd
T Choithram & Sons
Sharaf DG LLC
Associated British Foods Plc
Next Plc
J Sainsbury Plc
TJX Cos Inc, The
Wm Morrison Supermakets Plc
Kroger Co
Target Corp
Albertson's Inc

For more information about this report visit https://www.researchandmarkets.com/r/3gn3t2

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