India Gift Card and Incentive Card Market Report 2021

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Sep 22, 2021, 16:00 ET

DUBLIN, Sept. 22, 2021 /PRNewswire/ -- The "India Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2016-2025) - Q2 2021 Update" report has been added to ResearchAndMarkets.com's offering.

According to the Q2 2021 Global Gift Card Survey, gift card industry in India is expected to grow by 22.1% on annual basis to reach US$ 5533.7 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in India remains strong.

The gift card industry in India is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 18.4% during 2021-2025. The gift card market in the country will increase from US$ 4533.7 million in 2020 to reach US$ 10869.3 million by 2025.

The Indian gift card market has recorded a strong growth in the recent years across retail and corporate consumer segments. There is participation across various retail sectors and increased adoption has attracted travel companies, OTT and content platforms, as well as mobile payment providers.

The country has faced strict lockdown since March 2020 due to coronavirus outbreak. The socio-economic environment was negatively impacted due to COVID-19, which has led to fewer celebrations and gifting. However, the pandemic had a positive impact on e-commerce, a trend which is expected to remain the same over the coming quarters. This has also positively impacted the gift card market.

Moreover, amidst the pandemic, digital gift cards are gaining popularity in India as consumers are looking for safe and convenient gifting options. The sales of digital gift cards improved significantly in 2020, as compared to 2019 with gift cards from e-commerce ventures recording strong growth. As per Qwikcilver, an end-to-end gift card service provider, e-gift cards have seen massive adoption in India in the recent times, with corporates choosing e-gifting to engage with partners and employees in the COVID times. According to the Q2 2021 Global Gift Card Survey, e-gift cards accounted for nearly half the market share in 2020, indicating consumer preference towards digital gift cards. Moreover, in terms of segment-wise average load value of gift cards, jewellery gift cards held the most amount of value.

Also, OTT and content platforms such as SonyLiv and Zee5 have been offering discount of about 50% & 25%, respectively, on gift cards. The trend is visible across OTT and content platforms. Moreover, travel companies such as Makemytrip, and Yatra are also strongly focusing on sale digital gift cards. Apart from gift cards, Cleartrip, Thomas Cook, and Ola are offering discounts of upto 10% for staycations, short trips, and workations. In the food and beverage space, to attract customers, Pizza Hut, Starbucks, Dominos, Chaayos, and KFC in metro cities are offering gift cards with attractive discounts.

Online payment systems and digital wallet platforms such as Google Pay launched Woohoo digital gift card store in December 2020, a marketplace for users to send and receive gift cards. As an opening offer, Woohoo is providing up to INR 500 cashback for users buying gift cards via Google Pay. In the corporate segment, the demand for gift cards have risen as employees prefer to receive incentives and rewards in form of digital gift cards instead of traditional merchandise due to the flexibility it offers.

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 India. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.

Scope

Total Spend on Gifts in India

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 in India

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 in India

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

Digital Gift Card Market Size in India

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

Gift Card Market Size by Retail Consumer in India

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 in India

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 in India

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) in India

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) in India

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) in India

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:

Flipkart Online Services Pvt Ltd
Tata Group
Future Group
Reliance Group
Amazon.com Inc
Aditya Birla Group
K Raheja Corp

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

Media Contact:

Research and Markets
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SOURCE Research and Markets