Asia-Pacific Gift Cards and Motivational Cards Market Report 2021-2025

DUBLIN, September 23, 2021 / PRNewswire / – The report “Asia Pacific Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Market Size and Forecast (2016-2025) – Q2 2021 Update” has been added to ResearchAndMarkets.com offer.

The gift card market in Asia Pacific has experienced significant growth in recent years. The gift card industry has performed well, taking market share from the traditional gift industry.

The gift industry as a whole has been affected by the COVID-19 pandemic. Going forward, the gift card market is expected to grow due to increased digitization as well as increased online shopping. The e-commerce market in the region has witnessed significant growth in recent years due to better internet connectivity and better penetration in the region.

The surge in internet penetration has led to digitization in the region. Additionally, this trend has accelerated due to COVID-19, as more retailers and merchants seek to have a digital presence to meet the increase in online shopping.

Gift card issuers target almost every major festival in the world, be it Easter, Eid, Diwali or Hanukkah. The trend was accentuated in the Asia Pacific region in recent years, mainly due to increasing internet and smartphone penetration and a large young population. The growing demand from millennials and millennials for online gift options like e-gift cards is changing the whole dynamics of the gift industry.

People are moving away from traditional gift options such as greeting cards or edibles for digital gift cards. For example, there has been a growing demand for digital red envelopes / packets (also known as Yasui Qianas), a monetary gift and a symbol of good luck in China. Since 2014, Tencent, a Chinese tech company offers digital red envelopes in the country, which has experienced strong growth over the years.

The trend is quite similar in Singapore, India, and Indonesia where QR code-based gift cards create an alternative to the traditional cash gift. The gift card is rechargeable and accessible through the mobile wallet app. Mobile wallet players are increasingly looking to this high-growth, high-margin industry to generate profitability and acquire customers.

The rise of mobile commerce and convenience payments is forcing retailers and fintech companies to introduce gift cards that can be integrated into mobile apps to make payments. This is becoming more relevant as more consumers embrace contactless mobile payment due to COVID-19.

Several food and beverage retailers use mobile gift card programs to generate revenue. In China, Starbucks offers digital coffee gifts on a mobile payment app such as WeChat. Users of the mobile payment app can purchase digital gift cards for Starbucks, either for themselves or for their friends and family, as gifts on their birthdays. This integration of digital gift cards with WeChat helps Starbucks drive in-store traffic, resulting in additional revenue.

The pandemic has also affected wellness studios, fitness centers and gyms. The decrease in attendance and the limited number of new registrations due to the pandemic are affecting these businesses in most countries. For example, in May 2020, Curefit, a India fitness start-up based on reducing its operations in India and the United Arab Emirates. To support the current situation, these players are now targeting businesses for mass membership and offering gift cards, to gain market share.

This report details the impact of the economic downturn as well as the change in corporate and consumer sentiment due to the disruption caused by the Covid-19 outbreak on the gift card industry.

Although the growth of the gift card industry has been affected due to the pandemic, some segments will gain market share. Interesting trends are emerging in various segments that are expected to fundamentally reshape the dynamics of the gift card industry. Despite the short term challenges, the medium to long term growth of gift cards remains strong.

Scope

This bundle offers the following detailed gift card market opportunity at country level

Total spending on gifts

  • By consumption segment (retail and business)
  • By product categories (13 segments)
  • By retail sector (7 segments)

Gift Card Market Size by KPI in Consumer Segments

  • Gross load value
  • Transaction value
  • Unused value
  • Average value per transaction
  • Volume of transactions
  • Average value of the card purchased
  • Number of cards

Gift Card Market Size by Consumer Segment

  • Retail consumer
  • General public (small scale, intermediate, large company)

Digital Gift Card Market Size

  • By retail consumer
  • By retail purchase occasion
  • By the corporate consumer
  • By business purchase opportunity
  • By company size

Gift Card Market Size by Retail Consumer

  • By functional attribute
  • By Occasion
  • Festivals and special days of celebration
  • Milestone celebration
  • Self-use
  • Other
  • Value by purchasing channel

Gift card spending by consumer behavior and demographics

  • Consumer buying behavior
  • Gift card buyer by age group
  • Gift card buyer by income level
  • Gift card buyer by gender

Gift Card Market Size by Company

  • By functional attribute
  • By Occasion
  • Employee incentive
  • Sales promotion
  • Consumption incentive
  • By activity scale
  • Trend in budget allocation for 2021

Spending on gifts by product category (broken down by retail and corporate consumers)

  • food and drinks
  • Health, wellness and beauty
  • Clothing, shoes and accessories
  • Books and multimedia products
  • Consumer electronics
  • Restaurants and bars
  • Toys, children and babies
  • Jewelry
  • Sport stuff
  • Home and kitchen accessories and appliances
  • To travel
  • Entertainment and games
  • Other

Gift card spending by retail industry (broken down by retail and business consumers)

  • E-commerce and department stores
  • Restaurants and bars
  • Supermarket, Hypermarket, Mini-market
  • Entertainment and games
  • Specialty stores
  • Health
  • To travel

Gift card spend by distribution channel (broken down by retail and corporate consumers)

  • Online sale of gift cards
  • Offline gift card sales
  • First party sales
  • Sales to third parties
  • Sales increase

Closed Loop Gift Card Market Share by Major Retailers.

For more information on this report, visit https://www.researchandmarkets.com/r/qda2as

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