Philippines $750+ Million Gift Card and Incentive Card Markets, 2015-2020 & 2024

News provided by

Sep 23, 2020, 09:00 ET

DUBLIN, Sept. 23, 2020 /PRNewswire/ -- The "Philippines Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2015-2024) - Covid-19 Update Q2 2020" report has been added to ResearchAndMarkets.com's offering.

The gift card industry in Philippines will continue to grow over the forecast period and is expected to record a CAGR of 13.9% during 2020-2024. The gift card market in the country will increase from US$ 467.1 million in 2019 to reach US$ 764.2 million by 2024.

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

Historically, the gift card market in Philippines has recorded a steady growth with a CAGR of 19.2% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Philippines is expected to be impacted across retail and corporate segments due to disruption caused by Covid-19 outbreak.

Though growth of gift card industry will be impacted due to pandemic, there are certain segments such as self-use which will gain significant market share. Adoption of e-Gift cards is also expected to increase significantly over the next 4-6 quarters. 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 in Philippines remains strong.

Adoption of gift cards by businesses in the Philippines is one of the reasons that will continue to drive growth momentum for the gift card industry. Organizations are increasingly making use of gift cards to offer their employees and business partners with rewards and sales incentive cards. Gifmo is one such gift card provider in the country, which helps businesses to launch their digital loyalty and gift card programs in the Philippines.

Qwikcilver , end-to-end service provider in the pre-paid, gift card space in India, has announced its plans to expand its market in Philippines. During its Gift Card Conclave of South East Asia in September 2019, the company hailed increase in internet and mobile based commerce to be the principal factor in adoption of its gift platform. Sodexo , a food services and facilities management company, offers customizable gift certificates that can be used within its merchant network and several partner establishments across Philippines such as Abenson, Inasal, Watsons and Yellow Cab Pizza Co.

Bangko Sentral ng Pilipinas (BSP) announced its vision wherein it aims to cash-lite the Philippines by 2023. After the country launched its digital transformation program, BSP has introduced eGov Pay and QR PH as its digital payment solutions. Even though, Philippines will have to wait for its dependency on cash to lower, the efforts by government and banks are expected to encourage cashless transactions. Such efforts will lead the way for more Filipinos to use gift cards as cashless modes.

Another emerging trend that will boost the growth of the gift card market in the Philippines, is the increasing number of freelancers in the country that are accepting payments from international clients through digital gift cards. As the gig economy continues to thrive in the Philippines, acceptance of payment through a gift card will be one of the key factors driving the growth of the gift card industry.

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

Reasons to Buy

In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2014-2023) for gift cards and incentive cards in Philippines.
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 Philippines: 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 Philippines

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 Philippines

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 Philippines

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

Digital Gift Card Market Size in Philippines

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 Philippines

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 Philippines

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 Philippines

By Functional Attribute
By Occasion
Employee Incentive
Sales Incentive
Consumer Incentive
By Scale of Business
Budget Allocation Trend for 2020

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

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 Philippines

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 Philippines

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:

SM Retail Inc
Mercury Drug Corp
Puregold Price Club Inc
Rustan Group of Cos
Seven & I Holdings Co Ltd
Hutchison Whampoa Ltd
Metro AG
Gaisano Grand Group of Cos
Gaisano Capital Group
Abenson Inc
San Miguel Corp
Rose Pharmacy Inc
Goldilocks Bake Shop Inc
Prince Warehouse Club Inc

For more information about this report visit https://www.researchandmarkets.com/r/y34s6p

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets