Singapore Gift Card And Incentive Card Market Latest Trends, Demands and Business Outlook 2021 to 2025

Singapore Gift Card And Incentive Card Market 2021 provides pin-point analysis for changing competitive dynamics and a forward-looking perspective on different factors driving or restraining industry growth. The Gift Card And Incentive Card industry report provides necessary and auxiliary data which is represented in pie-charts, tables, systematic overview, and product diagrams. The Gift Card And Incentive Card Report also determine the market conditions including the product price, specification, research methodologies, financial and technical details which will help to expand the market operations. The Market research report provides the latest industry data and industry future trends, allowing you to identify the products and end users driving revenue growth and profitability.

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Prominent Top Key Players: NTUC FairPrice Co-operative Pte Ltd, Dairy Farm International Holdings Ltd, Shen Siong Supermarket Pte Ltd, Takashimaya Co Ltd, Mustafa Holdings Pte Ltd, Courts Asia Ltd, Al Futtaim Group LLC, Yamada Denki Co Ltd

Market Overview:

Gift card market in Singapore grew despite impact on socio-economic environment by the COVID-19 outbreak. While the pandemic has negatively impacted growth across key industries, there has been a large-scale adoption of digital payment both by retail and business consumers. Supported by broader industry trends, and shift in consumer behavior, overall gifting and gift card industry has witnessed fundamental changes. Consequently, sale of digital gift card has witnessed sharp increase.
PayNXT360s Q2 2021 Global Gift Card Survey, gift card industry in Singapore is expected to grow by 12.2% on annual basis to reach US$ 1053.8 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in Singapore remains strong. The gift card industry in Singapore 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 10.4% during 2021-2025. The gift card market in the country will increase from US$ 938.9 million in 2020 to reach US$ 1562.6 million by 2025.

According to PayNXT360s Global Gift Card Survey Q2 2021, around 68% of surveyed individuals revealed that they purchased more gift cards for festive season 2020, as compared to 2019, indicating rising interest. Fine dining, diversified retail, and wellness experiences were the most popular gift card categories. Also, due to the pandemic, retailers and merchants are extending validity of gift cards to enable customers use their unused gift cards, which could further boost gift card adoption.
Singapores e-commerce industry is one of the fastest growing in the South East Asia and is expected to US$10 billion (S$10 billion) in 2020 as there has been an increase in online purchases due to COVID-19. Change in consumer buying behavior is expected to support e-commerce growth going forward. Also, in April 2020, Singapores government and its Enterprise Singapore (ESG) launched e-commerce booster package which will provide 90% of the total cost of setting up online presence for SME retailers. E-commerce growth in the medium to long term is expected to support e-gift card growth in the country, as retailers use it as a marketing and customer acquisition mechanism.

Singapore Gift Card And Incentive Card Market Split By Product Type And Applications:

Gift Card Market Size by KPIs across Consumer Segments in Singapore
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 Retail Consumer in Singapore
By Functional Attribute
By Occasion
1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. Other

Regional Analysis For Gift Card And Incentive Card Market:

For comprehensive understanding of market dynamics, the Singapore Gift Card And Incentive Card Materials market is analyzed across key geographies namely: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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Essential Elements form the Table of Content of Singapore Gift Card And Incentive Card Market:

– Singapore Gift Card And Incentive Card Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

– Singapore Gift Card And Incentive Card Market competition by Manufacturers (2021-2026)

– Production and Consumption by Regions

– Complete profiling and analysis of Manufacturers (2021-2026)

– Manufacturing cost analysis, Materials analysis, Region-wise manufacturing expenses

– Industrial Chain, Sourcing Strategy and Downstream Buyers

– Marketing Strategy Analysis, Distributors/Traders

– Singapore Gift Card And Incentive Card Market Effect Factors Analysis (2021-2026)

– Singapore Gift Card And Incentive Card Market Forecast (2021-2026)

– Singapore Gift Card And Incentive Card Market Research Findings and Conclusion

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors                              

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Singapore and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.