Middle East and Africa Gift Card and Incentive Card Intelligence Report 2024: Market to Reach $17.6 Billion by 2028, Driven by Strategic Partnerships to Launch New Gift Card Solutions

News provided by

Mar 27, 2024, 18:00 ET

DUBLIN, March 27, 2024 /PRNewswire/ -- The "Middle East and Africa Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

Gift card industry in Middle East and Africa is expected to grow by 10.7% on annual basis to reach US$12.4 billion in 2024.

The gift card industry in Africa and Middle East will continue to grow over the forecast period and is expected to record a CAGR of 9.1% during 2024-2028. Gift card market in the region will increase from US$11.2 billion in 2023 to reach US$17.6 billion by 2028.

The adoption of gift cards is poised to grow further across the Middle East and African market over the medium term. The thriving fintech market, coupled with the rise of online shopping, will aid the adoption of the payment toll across the region in 2024. Firms are entering into strategic collaborations to launch new products aimed at catering to the demands of different consumer demographic.

Additionally, marketplaces are also targeting to widen the distribution of their products through retail channels in the Middle East. In 2024, the industry will also receive growth support from gift card giveaway campaigns in the region. Overall, the publisher maintains a strong growth outlook for the gift card industry in Africa and the Middle East over the next three to four years.

Gift card marketplaces are seeking to widen the distribution of their products through retail channels

Although digital gift cards are becoming increasingly popular compared to physical ones, marketplaces are widening the distribution of their products through retail partnerships amid a growing competitive landscape in the Emirates.

YouGotaGift, one of the leading digital gift card marketplaces, announced a strategic collaboration with Carrefour in January 2024. The multi-brand gift card has been made available at all Carrefour outlets in the Emirates. The partnership widens the distribution network for YouGotaGift, which is facing growing competition from new entrants in the market.
eXtra, the leading consumer electronics and home appliance maker in the Kingdom, partnered with YouGotaGift in September 2023. As part of the collaboration, eXtra is using YOUProcess, a new omnichannel gift card processing solution, to launch a branded gift card program in Saudi Arabia. The YOUProcess gift card program will enable consumers to buy and use gift cards across all eXtra stores

From the short to medium-term perspective, the publisher expects YouGotaGift to enter into more such strategic partnerships in the Middle East region. This is projected to aid the adoption of the payment tool, thereby supporting the growth of the industry over the next three to four years.

Firms are entering into strategic partnerships to launch new gift card products for consumers

In Africa, the adoption of gift cards is on the rise and this trend is projected to continue further over the medium term. Consequently, to tap into the growing uptake of the payment tool, providers are partnering with more consumer-focused brands to launch gift cards, thereby targeting higher revenue growth.

SureGifts, one of the leading gift card platforms in Nigeria, announced that the firm had entered into a strategic partnership with Eat'N'Go in Q4 2023. Eat'N'Go, notably, is the master franchise for Domino's Pizza, Cold Stone Creamery, and Pinkberry in Nigeria. As part of the collaboration, SureGifts has launched gift cards for these three brands in Nigeria. The e-vouchers are available in different denominations ranging from N5,000 and above.

Going forward, the publisher expects more such gift card providers to enter into strategic collaborations in the African market, thereby aiding their revenue growth. This will subsequently support the uptake of the payment solution, while also driving the industry growth over the next three to four years.

Gift card giveaway campaigns to provide growth support to the market in the United Arab Emirates

The Galleria Al Maryah Island in Abu Dhabi, known for its upscale shopping and lifestyle offerings, marked its 10th anniversary with a gift card giveaway campaign. The Dh1 million worth of gift cards campaign is part of its strategy to drive more footfall at the mall. Under the campaign, until October 31, shoppers were allowed to enter the prize draw by spending Dh500 or more.

The mall offered Dh10,000 worth of gift cards to a total of 100 winners. In addition to the giveaway, The Galleria also celebrated its 10-year milestone by releasing a special unisex fragrance. Visitors who purchased a gift card worth Dh250 or more before October 31 were entitled to receive the limited-edition fragrance as a gift. These innovative gift card programs are supporting the growth of the gift card industry in the United Arab Emirates. The publisher expects more such campaign launches in the Emirates in 2024.

Gift card market in 2023 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.

This title is a bundled offering, comprising 1 regional and 8 Country Reports:

Regional Report - Africa and Middle East Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 1 - Egypt Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 2 - Israel Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 3 - Nigeria Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 4 - South Africa Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 5 - Kenya Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 6 - Saudi Arabia Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 7 - Turkey Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 8 - United Arab Emirates Gift Card and Incentive Card Market Intelligence (Databook)

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
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
By Scale of Business

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

Gift Card Sales Estimates by Key Retailers

5M
A101
Abdullah AlOthaim Supermarket
Al Nahdi
Al Raya
Al-Dawaa pharmacies
Amazon
Arcelik
BIM
Boxer
Carrefour
Checkers - All Brands
Choithrams
Clicks
Cohen Sales Warehouses Ltd
Danube
Dis-Chem Pharmacy
Dubai Duty Free
Fathalla
HyperPanda
Ikea
Jarir
Jumbo
kazyon
Kheir Zaman
LC Waikiki
Life
Lulu
Max
Mega Ba'ir
Merav - Mazon Kol
Metro Market
MM
MMM
MRP
Omar Effendi
Panda
Pep
Pick n Pay
RadioShack
Ragab Sons
Rami Levy
Samsung
Sharaf DG
Shoprite
Shufersal Deal
Sok
Souq
Spar
Spinneys
Super-Pharm
Tiv Taam
Victory
Woolworths Food
Yesh
Yeynot Bitan

For more information about this report visit https://www.researchandmarkets.com/r/hk2pmk

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets