Nigeria Gift Card and Incentive Card Market Report 2023: Market is Expected to Grow by 12.8% to Reach $1.835 Billion in 2023 - Forecasts to 2027

DUBLIN, April 28, 2023 /PRNewswire/ -- The "Nigeria Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update" report has been added to  ResearchAndMarkets.com's offering.

The gift card industry in the country is expected to grow by 12.8% on annual basis to reach US$ 1,835.7 million in 2023. In value terms, the gift card market in Nigeria has recorded a CAGR of 11.3% during 2018-2022.

The gift card industry in Nigeria will continue to grow over the forecast period and is expected to record a CAGR of 11.0% during 2023-2027. The gift card market in the country will increase from US$ 1,628.0 million in 2022 to reach US$ 2,789.0 million by 2027.

 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 report provides a detailed data centric analysis of the gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of the gift card market dynamics, market size and forecast.

Reasons to buy

• In-depth understanding of the gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2018-2027) for gift cards and incentive cards in Nigeria.
• Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
• Get insights into consumer attitude and behaviour in Nigeria: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
• Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
• Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.

Scope

Total Spend on Gifts in Nigeria

• 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 Nigeria

• 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 Nigeria

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

Digital Gift Card Market Size in Nigeria

• 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 Nigeria

• 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 Nigeria

• 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 Nigeria

• By Functional Attribute
• By Occasion
• Employee Incentive
• Sales Incentive
• Consumer Incentive
• By Scale of Business

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

• 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 Nigeria

• 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 Nigeria

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

For more information about this report visit https://www.researchandmarkets.com/r/v8ndim

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