According to PayNXT360’s Q2 2021 Global Gift Card Survey, integrating gift cards into mobile apps is expected to record increased investment over the next four to eight quarters

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.

According to PayNXT360’s Q2 2021 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.

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 Covid-19 outbreak on 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.

This offering from PayNXT360 is a bundled offering, combining 20 country reports: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Kenya, Mexico, Nigeria, Philippines, Russia, South Africa, Thailand, United Arab Emirates, United Kingdom, United States.

Country reports included in this bundled offering provide a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics. With over 200 KPIs at country level, these country reports provide comprehensive understanding of gift and incentive card market dynamics.

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

1. Festivals & Special Celebration Days

2. Milestone Celebration

3. Self-Use

4. 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

1. Employee Incentive

2. Sales Incentive

3. 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

Natura Cosméticos 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



Read more @ https://www.paynxt360.com/report-store/view/global-gift-card-and-incentive-car-279

Columbia Blvd Suite C15-544670 Portland, Oregon, 97217

PayNXT360 is a strategy research and consulting firm providing a business intelligence on BNPL, prepaid cards, digital & mobile wallets, embedded finance, digital lending, remittance, and innovative payment solutions. Through exhaustive databases and in-depth analyst reports, we offer detailed and unbiased insights into emerging opportunities and risks across global markets. For more information, please visit our website www.paynxt360.com Home Page PayNXT360
https://www.paynxt360.com

This release was published on openPR.