DUBLIN, December 24, 2021 / PRNewswire / – The report “Latin America 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 Latin America is expected to experience steady growth due to changing customer preferences for gift cards and increased adoption in the self-use segment. The increased use of gift cards for self-indulgence, supported by discounts offered by retailers, is supporting market growth. The growing popularity of gift cards offers lucrative opportunities for gift card issuers.
The COVID-19 pandemic has changed consumer buying behavior, leading consumers to trust e-commerce. Buyers prefer to shop online because of the convenience, speed, benefits and savings it offers. Hence, digital gift cards are expected to gain market share during the forecast period mainly due to the growth of e-commerce and increased internet penetration in the region.
E-commerce market in Latin America has grown in recent years and is expected to grow further in the coming quarters. Brazilian e-commerce sales increased dramatically in 2020, as consumers turned to online shopping due to the pandemic. In Mexico, it is estimated that e-commerce accounts for over 25% of total retail sales in 2020. Online retailers are capitalizing on the growing trend in e-commerce to offer digital gift cards in order to attract new customers and improve brand awareness.
Additionally, the growing demand for online streaming services is likely to create a demand for entertainment-based gift cards as customers spend more time on indoor entertainment activities. Due to the pandemic, with customers confined to their homes, Netflix saw its subscriber base grow and started offering gift cards to attract customers.
Mexico and Brazil observed the entry of international players into the gift card market. For example, in november 2020, InComm Payments acquired Todo Cartoes, a closed-loop gift card processor in Brazil, to improve its presence in the country. The deal will allow InComm to process and distribute closed-loop gift cards to retailers in Brazil. The consolidation of the gift card market is expected to continue over the next few quarters as players seek to strengthen their market position and be competitive. Additionally, Tango Card, a digital rewards and incentives provider in the United States, offers e-gift cards from various brands including Domino’s, Burger King, Cinepolis, Best Buy, Starbucks, Uber and others, in Mexico.
Corporate gift cards are also expected to experience growth, as employees seek flexible and discounted gift options. Companies offer rewards and incentives through gift cards, especially during the holiday season. Giftly.com and mexico.net.nz are some of the popular third party gift card providers in Mexico.
This report details the impact of the economic downturn as well as changes in business and consumer confidence due to the disruption caused by the Covid-19 epidemic 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.
This offer is a bundle, combining 5 country reports (Argentina, Brazil, Chile, Colombia, Mexico).
The country reports included in this bundle provide detailed analysis focused on the corporate gift card and incentive card market data, as well as consumer behavior and retail spend dynamics. With over 200 KPIs regionally and nationally, these reports provide a complete understanding of the Incentive and Gift Cards market dynamics.
This bundle provides the following detailed gift cards 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
Gift Card Market Size by Consumer Segment
Digital Gift Card Market Size
Gift Card Market Size by Retail Consumer
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
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
Restaurants and bars
Toys, children and babies
Home and kitchen accessories and appliances
Entertainment and games
Gift card spending by retail sector (broken down by retail and business consumers)
E-commerce and department stores
Restaurants and bars
Supermarket, Hypermarket, Convenience Store
Entertainment and games
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
Closed Loop Gift Card Market Share by Major Retailers. The main retailers covered include:
Importadora and Exportadora de la Patagonia SA
Wal-Mart Inc stores
Casino Guichard-Perrachon SA
Natura Cosmetics SA
Lojas Americanas SA
Magazine Luiza SA
Chilean Feria del Libro SA
Inditex, Industria de Diseno Textil SA
Confecciones Leonisa SA
Organization Soriana SAB de CV
Grupo Comercial Chedraui Sa de CV
Controladora Comercial Mexicana SAB de CV
Farmacias Similares SA de CV
Corporativo Fragua Sa de CV
Home Depot Inc, The
For more information on this report visit https://www.researchandmarkets.com/r/r4b7vn
Research and markets
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SOURCE Research and Markets