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

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Apr 28, 2023, 05:45 ET

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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