Global Gift Card and Incentive Card Market Report 2021 - Economic Slowdown Due to COVID-19 is Changing Consumer's Gifting Pattern

DUBLIN, March 1, 2021 /PRNewswire/ -- The "Global Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook): Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.

According to Q4 2020 Global Gift Card Survey, integrating gift card into mobile apps is expected to record increased investment over the next 4-8 quarters.

Leading retailers are focusing on creating a digital gift card program that can help them to increase traffic, boost sales and cultivate brand loyalty. It has become critical for retailers to embrace the new generation of mobile integrated digital/e-gift cards. Given the increasing self-use, retailers need to start viewing gift card as payment tool and enhance the value proposition with loyalty programs and option to reload.

Globally, the adoption of gift cards has seen a steady increase over the years. Consumers have been using gift cards for various transactional purposes such as exchanging it for cash, buying cryptocurrencies, and using it for regifting. The growth in adoption of gift cards is due to increase in use of gift cards for self-gifting, supported by discounts offered by retailer; as well as growth in online shopping.

Moreover, customers are becoming more cautious about their spending due to the economic slowdown - as an effect of the COVID-19. Consequently, gift cards are also offering a way to manage financial spending. Traditionally, general purpose prepaid cards have occupied this space, but ease of procurement is helping gift card gain share.

The demand for e-gift cards is showing significant growth owing to increase in acceptance of digital ecosystem which is leading consumers towards alternative gifting solutions such as e-gift cards. The trend is also supported by the current coronavirus pandemic. The fear of spreading the virus has forced individuals to become more cautious about what they touch, making them choose e-gifts over physical ones. Furthermore, the global economic slowdown due to COVID-19 is also changing consumer's gifting pattern.

Moreover, rising mobile commerce and proximity payment is making it essential for retailers and fintech companies to introduce gift cards that can be integrated into mobile apps for making payment. This becomes more relevant as more consumers adopt contactless mobile payment due to COVID-19.

In addition, mobile wallet providers are also offering various cashback offers on purchase of gift cards on their mobile application. All these factors along with convenience are driving the growth of mobile gift cards.

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

Though growth of gift card industry has been impacted due to pandemic, there are certain segments which will gain market share. 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 remains strong.

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
• Festivals & Special Celebration Days
• Milestone Celebration
• Self-Use
• Other
• 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
• 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)

• 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

Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:

• Cencosud SA
• Carrefour SA
• Coto CICSA
• MercadoLibre Inc
• Importadora y Exportadora de la Patagonia SA
• Wal-Mart Stores Inc
• Garbarino SA
• Wesfarmers Ltd
• Woolworths Ltd (Australia)
• Metcash Ltd
• Aldi Group
• Harvey Norman Holdings Ltd
• JB Hi-Fi Ltd
• Apple Inc
• Casino Guichard-Perrachon SA
• Natura Cosmeticos SA
• Lojas Americanas SA
• Adeo Groupe
• Magazine Luiza SA
• George Weston Ltd
• Empire Co Ltd
• Costco Wholesale Corp
• Metro AG
• Canadian Tire Corp Ltd
• Home Depot Inc, The
• Liquor Control Board of Ontario
• Hudson's Bay Co
• Home Hardware Stores Ltd
• Best Buy Co Inc
• Alibaba Group Holding Ltd
• JD.com Inc
• Auchan Group SA
• Bailian Group Co Ltd
• Yonghui Superstores Group
• E Leclerc
• ITM Enterprises SA
• Systeme U Centrale Nationale Sa
• Schwarz Beteiligungs GmbH
• Amazon.com Inc
• Edeka Zentral AG & Co KG
• Rewe Group
• dm-Drogerie Markt GmbH & Co KG
• Tengelmann Group, The
• Dirk Rossmann KG
• Globus Holding GmbH & Co
• Inter Ikea Systems BV
• H&M Hennes & Mauritz AB
• Flipkart Online Services Pvt Ltd
• Tata Group
• Future Group
• Reliance Group
• Aditya Birla Group
• K Raheja Corp
• Salim Group
• Trans Retail Indonesia PT
• Matahari Putra Prima Tbk PT
• Sumber Alfaria Trijaya Tbk PT
• Delhaize Group Sa
• Kompas Gramedia Group
• Ace Hardware Corp
• Coop Italia scarl
• CONAD - Consorzio Nazionale Dettaglianti Scrl
• Esselunga SpA
• Selex Gruppo Commerciale SpA
• Gruppo Eurospin
• Crai Secom SpA
• Organizacion Soriana SAB de CV
• Grupo Comercial Chedraui Sa de CV
• Controladora Comercial Mexicana SAB de CV
• Farmacias Similares SA de CV
• Corporativo Fragua Sa de CV
• SM Retail Inc
• Puregold Price Club Inc
• Rustan Group of Cos
• Seven & I Holdings Co Ltd
• Hutchison Whampoa Ltd
• San Miguel Corp
• Magnit OAO
• X5 Retail Group NV
• Dixy Group OAO
• Lenta OOO
• M Video OAO
• DNS Group
• Shoprite Holdings Ltd
• Pick 'n' Pay Stores Ltd
• Internationale Spar Centrale BV
• Woolworths Holdings Ltd (South Africa)
• Tesco Plc
• Central Retail Corp
• Home Product Center PCL
• Mall Group Co Ltd, The
• Charoen Pokphand Group
• Consumer Co-operative Union (CCU)
• Landmark Group
• Emke Group
• Damas International Ltd
• T Choithram & Sons
• Sharaf DG LLC
• Associated British Foods Plc
• Next Plc
• J Sainsbury Plc
• TJX Cos Inc, The
• Wm Morrison Supermakets Plc
• Kroger Co
• Target Corp
• Albertson's Inc

For more information about this report visit https://www.researchandmarkets.com/r/3gn3t2

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