Dublin, March 04, 2022 (GLOBE NEWSWIRE) — The report “United Arab Emirates Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2022 Update” has been added to from ResearchAndMarkets.com offer.
According to the Global Gift Card Survey for the fourth quarter of 2021, the gift card industry in the country is expected to grow 13.9% on an annual basis to reach US$1,635.2 million in 2022.
Despite the short-term challenges in 2022, the medium to long-term growth of gift cards in the United Arab Emirates (UAE) remains solid. The Gift Card Industry in UAE is expected to grow steadily in the first half of 2022 and register strong growth in the second half of 2022. The growth momentum is expected to continue to increase over the forecast period, registering a CAGR of 11. 0% over the period 2022-2026. . The gift card market in the country will grow from US$1,435.2 million in 2021 to US$2,484.5 million by 2026.
Strong growth in online shopping is expected to boost the UAE gift card market
Over the past four to eight quarters, gift cards have grown in popularity among consumers in the United Arab Emirates (UAE) and are expected to gain momentum in the short to medium term. Notably, this growth of the UAE gift card market is partly fueled by the robust growth of the e-commerce market.
In the United Arab Emirates, gift cards are gaining popularity with online shoppers who want to avoid the hassle of buying gifts on special occasions. Additionally, some online shoppers resort to gift cards for their personal use, as it provides them with the convenience of making digital payments on e-commerce platforms. the publisher expects the trend to continue in the short to medium term, which will subsequently drive the growth of the gift card market in the United Arab Emirates.
Rise in product launches expected to further boost consumer adoption of gift cards in UAE
As the popularity of gift cards among consumers continues to grow, several new product launches have taken place over the past quarters in the UAE. In October 2021, YouGotaGift, one of the country’s leading digital gift card providers, announced the launch of new gift card products for The Blue Salon and Kunooz.
With hundreds of thousands of Indians residing in the UAE, YouGotaGift also launched Kalyan Jewelers gift cards during the Diwali celebration week in November 2021. As the popularity of gift cards continues to grow in the country , the publisher expects more product launches over the next four to eight quarters. This will subsequently contribute to the growth of the gift card market in the United Arab Emirates from a short to medium term perspective.
Global payment companies launch gift card services for consumers in UAE
As the popularity of gift card payment methods continues to grow in the GCC region, global payment companies are entering the market to capitalize on the opportunity and gain market share. For example,
- In June 2021, Dutch payments fintech Recharge.com announced the launch of its services, including gift cards, in Saudi Arabia and the United Arab Emirates. The fast-growing startup focuses on a number of global brands, including Netflix, Spotify and Xbox. Notably, the company has grown rapidly in recent quarters following the growing popularity of digital gift cards. Its launch in the United Arab Emirates follows the recent US$12 million debt financing round, which the company raised to expand its presence internationally.
The publisher expects more global gift card players and fintech companies to launch their services in the UAE over the next four to eight quarters, which will subsequently drive market growth. in the short and medium term.
Total spending on gifts in the United Arab Emirates
- By consumer segment (retail and business)
- By product categories (13 segments)
- By retail sectors (7 segments)
Gift Card Market Size by KPIs in UAE 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 in United Arab Emirates
- retail consumer
- Corporate consumer (small scale, intermediate, large enterprise)
UAE digital gift card market size
- Per retail consumer
- Per Retail Opportunity
- By Corporate Consumer
- By Business Buying Opportunity
- By business size
Gift card market size by retail consumer in United Arab Emirates
- By functional attribute
- By Occasion1. Festivals and special days of celebration
2. Milestone Celebration
- Value by buying channel
Gift card spending by consumer behavior and demographics in the United Arab Emirates
- 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 in United Arab Emirates
- By functional attribute
- By Occasion1. Employee incentive
2. Sales incentive
3. Consumer incentive
- By activity scale
Spending on gifts by product categories (disaggregated by individuals and businesses) in the United Arab Emirates
- food and drinks
- Health, well-being and beauty
- Clothing, shoes and accessories
- Books and multimedia products
- Consumer electronics
- Restaurants & Bars
- Toys, children and babies
- Sport stuff
- Home and kitchen accessories and appliances
- Entertainment and games
Spending on gift cards by retail sector (split between individuals and businesses) in the United Arab Emirates
- E-commerce and department stores
- Restaurants & Bars
- Supermarket, hypermarket, convenience store
- Entertainment and games
- Specialty stores
Spending on gift cards by distribution channel (split between individuals and businesses) in the United Arab Emirates
- Online gift card sales
- Offline gift card sales
- First party sales
- Sales to third parties
- Increase in sales
Reasons to buy
- In-Depth Understanding of Gift Cards and Incentive Cards Market Dynamics: Understand the market opportunities, key trends and drivers along with five-year forecast (2017-2026) for Gift Cards and Incentive Cards United Arab Emirates.
- Develop market-specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift card strategy; assess key market-specific trends and risks.
- Gain insights into consumer attitude and behavior in the United Arab Emirates: Understand changing consumer attitude and behavior and increase ROI. Get detailed insights into retail spend with gift cards for individuals and businesses.
- Get a complete perspective with 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 the dynamics of gift card sales by channel – online vs. offline sales and first-party vs. third-party sales.
Main topics covered:
1. UAE Total Gift Spending Analyzer
2. United Arab Emirates Consumer Gift Spending Analyzer
3. United Arab Emirates Business Gift Spending Analyzer
4. UAE Gift Card Spend Analyzer
5. UAE Digital Gift Card Spend Analyzer
6. Share of UAE Gift Card Spending by Demographics and Purchase Behavior
7. United Arab Emirates Consumer Gift Cards Spend Analyzer
8. United Arab Emirates Consumer Gift Card Spending Analysis by Functional Attribute
9. United Arab Emirates Consumer Gift Cards Spending Analysis by Occasion
10. United Arab Emirates Business Gift Cards Spend Analyzer
11. United Arab Emirates Consumer Gift Cards Spending Analysis by Functional Attribute
12. United Arab Emirates Consumer Gift Cards Spending Analysis by Occasion
13. United Arab Emirates Consumer Gift Cards Spending Analysis by Company Size
14. United Arab Emirates Business Gift Card Spending Analysis by Business Size X Functional Attribute
15. United Arab Emirates Gift Cards Spending Analysis by Distribution Channel
16. United Arab Emirates Gift Card Spending Analysis by Retail Industry
17. United Arab Emirates Consumer Gift Cards Spending Analysis by Retail Industry
18. United Arab Emirates Consumer Gift Cards Spending Analysis by Retail Industry
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