Asia Pacific Gift Card and Incentive Card Market (COVID-19 Impact Analysis) | Growth Opportunities, Emerging Trends, And Future Scope | Investment Opportunities | PayNXT360 Updates

The gift card market in Asia Pacific has witnessed significant growth in the past few years. Gift card industry has performed well, taking away market share from traditional gifting sector. The overall gift industry has been impacted by the COVID-19 pandemic. Going forward, the gift card market is expected to grow backed by increase in digitization as well as surge in online shopping. E-commerce market in the region has recorded significant growth in the recent years due to better internet connectivity and penetration across the region. The surge in internet penetration has led to digitization in the region. Moreover, this trend has accelerated due to COVID-19 as more and more retailers and merchants look to have a digital presence to cater to surge in online shopping.

Gift card issuers are targeting almost all major festivals across the world, be it Easter, Eid, Diwali, or Hanukkah. The trend has become more prominent in the Asia-Pacific region in the recent years, primarily due to the rising internet and smartphone penetration and a large young population. The growing demand from the millennial and Gen Z population for online gifting options such as e-gift cards are changing the entire dynamics of the gifting industry.

People are moving away from the traditional gifting options such as greeting cards or edibles to digital gift cards. For instance, there has been a rising demand for digital red envelope/packet (also known as, Yasui Qianas), a monetary gift, and a symbol of good luck in China. Since 2014, Tencent, a Chinese technology company offers digital red envelop in the country, which has recorded strong growth over the years.

The trend is quite similar in Singapore, India, and Indonesia where QR code-based gift cards are creating an alternative to the traditional cash based gift. The gift card is reloadable and can be accessed through mobile wallet app. Mobile wallet players are increasingly eyeing this high growth, high margin sector to drive profitability and acquire customers.

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.

Several food and beverage retailers are making use of mobile gift card programs to drive revenues. In China, Starbucks is offering digital coffee gifts on mobile payment app such as WeChat. Users of the mobile payment app can buy digital gift cards for Starbucks either for themselves or friends and families as a gift on their birthdays and anniversaries. This integration of digital gift cards with WeChat is helping Starbucks to drive in-store traffic, resulting in incremental revenue.

The pandemic has also been affecting wellness studios, fitness centers, and gyms. Reduced footfall and limited new enrollments due to the pandemic is affecting these businesses in most of the countries. For instance, in May 2020, Curefit, an India based fitness startup downsized its operations in India and the UAE. To sustain in the present situation these players are now targeting corporates for bulk membership and offering gift cards, to gain market share.

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 10 country reports (Australia, Indonesia, Philippines, Singapore, Thailand, China, Japan, India, South Korea, Malaysia).

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 reports provide comprehensive understanding of gift and incentive card market dynamics.
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
• Wesfarmers Ltd
• Woolworths Ltd (Australia)
• Metcash Ltd
• Aldi Group
• Harvey Norman Holdings Ltd
• JB Hi-Fi Ltd
• Apple Inc
• SM Retail Inc
• Puregold Price Club Inc
• Rustan Group of Cos
• Seven & I Holdings Co Ltd
• Hutchison Whampoa Ltd
• Metro AG
• San Miguel 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
• 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
• Tesco Plc
• Central Retail Corp
• Home Product Center PCL
• Mall Group Co Ltd, The
• Charoen Pokphand Group
• Alibaba Group Holding Ltd
• JD.com Inc
• Auchan Group SA
• Wal-Mart Stores Inc
• Bailian Group Co Ltd
• Yonghui Superstores Group
• Flipkart Online Services Pvt Ltd
• Tata Group
• Future Group
• Reliance Group
• Amazon.com Inc
• Aditya Birla Group
• K Raheja Corp
• AEON Group
• Lawson Inc
• FamilyMart Co Ltd
• Rakuten Inc
• Isetan Mitsukoshi Holdings Ltd
• Lotte Group
• Shinsegae Co Ltd
• Hyundai Department Store Co Ltd
• GS Holdings Corp
• SK Planet Co Ltd
• BGF Retail Co Ltd
• Costco Wholesale Corp

The report includes raw data along with structured dashboards, charts, and tables in an interactive Excel format.

This bundled offering includes country level trend analyses across the following gift card segments:

• Total gift market: This report provides detailed view of overall spend on gifts, broken down by retail and consumer segments. For both retail and consumer segments, this report provides a breakdown of spend on gifts by product categories (13 segments) and retail sectors (7 segments).

• Gift cards: Drawing from proprietary survey results, this report provides in-depth analysis of opportunities in both open loop and closed loop prepaid gift card categories. Assesses consumer behaviour by type of consumer (retail and corporate – SMB, Mid-Tier, Large Enterprise), gifting occasion, digital gift card, and market share by retail sectors.

• Details six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.

• Corporate incentive & loyalty cards: This report provides detailed market dynamics of corporate incentive cards, broadly segmented in three categories – consumer incentive card, employee incentive card, and sales / partner incentive card. It details market size and forecast at category level, by functional attribute (open loop and closed loop), and by corporate consumer segments (small scale business, mid-size business, and enterprise business).

• Digital gift card (e-gift card) analysis: Provides market size and forecast for digital gift cards, broken down by retail and corporate buyers. It also includes gift card spend by occasion (retail – festivals & special celebration days, milestone celebration, self-use, other; Corporate incentive cards –consumer incentive card, employee incentive card, and sales / partner incentive card). The report also includes digital gift card adoption by company size.

• Open loop and closed loop: Provides market estimates and forecasts to assess opportunities in open loop and closed loop gift and incentive card segments across consumer segments.

• Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key KPIs related to gift card dynamics including spend by age, gender, and income level. In addition, it provides an overview of how consumers are currently using gift cards across key retail sectors.

• Retail spend: Breaks down retail spend across retail sectors (7 segments) to provide detailed insights on consumer behaviour and changing dynamics of gift card spend.

• Market share by retailer: Provides market share of closed loop gift cards by key retailers.

• Distribution channel analysis: Provides market share by distribution channel – online vs offline sales and 1st party vs 3rd party sales (sales through outlet of other retailers).
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
To get detailed insights and FREE sample Report please click here @ https://www.paynxt360.com/report-store/view/asia-pacific-gift-card-and-incenti-277
Reason 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 at regional and country level.

• 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: 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

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