South Africa Gift Card and Incentive Card Market Latest Trends, Business Opportunity and Scope 2021 to 2025

Latest released, the research study on South Africa Gift Card and Incentive Card Market Report Forecast 2021 - 2025, offers a detailed overview of the factors influencing the global business scope. South Africa Gift Card and Incentive Card Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the South Africa Gift Card and Incentive Card. The study covers emerging player's data, including competitive landscape, sales, revenue and global market share of top manufacturers are: Shoprite Holdings Ltd, Pick 'n' Pay Stores Ltd, Internationale Spar Centrale BV, Wal-Mart Stores Inc, Woolworths Holdings Ltd (South Africa)

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Market Overview:

Historically, the gift card market in South Africa has recorded a steady growth with increased adoption in self-use segment. Gift card market growth in South Africa is expected to be impacted across retail and corporate segments due to disruption caused by COVID-19 outbreak. However, certain segments such as self-use which will gain significant market share.

Also, online retailers are focusing on strengthening their customer acquisition strategy by offering e-gift cards. Consequently, adoption of e-Gift cards is expected to increase significantly over the next 4-6 quarters.

The rising trend of gift card usage has drawn foreign companies to explore the market in South Africa. For instance, in March 2020, InComm, a payments technology company, launched its gift cards in partnership with Flash and Pepkor Group. The gift cards include gaming, ride-sharing, content, and streaming gift cards via Flash and Pepkors retail network making these cards available in every South African region.

In South Africa, low youth employment and a weak job market are fueling the growth of its freelance market. In 2020, the freelancers are expected to account for 40-50% of the full-time workforce. Employers are benefiting by the gig model as it helps in the speed of hiring, flexibility, and cost. The trend of gig workers getting paid using gift cards is increasing as these are easy to disburse and use. With the increase in freelancers and gig workers in South Africa, the gift card market will be positively impacted.
Apart from this, corporate spending is also boosting the gift card market in South Africa. Organizations are increasingly making use of gift cards to rewards their employees on popular holidays in the country such as Christmas and New Year.

Global Gift Card Survey, gift card industry in South Africa is expected to grow by 16.3% on annual basis to reach US$ 923.2 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in South Africa remains strong. The gift card industry in South Africa is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 13.9% during 2021-2025. The gift card market in the country will increase from US$ 794.1 million in 2020 to reach US$ 1552.4 million by 2025.

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Significant Features and Key Highlights of the Reports:

– Detailed overview of South Africa Gift Card and Incentive Card Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value.
– Recent industry trends and developments
– Competitive landscape of South Africa Gift Card and Incentive Card Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

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 (2016-2025) for gift cards and incentive cards in Denmark.

- 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 behavior in Denmark: Understand changing consumer attitude and behavior 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.

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