Philippines Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics, 2017-2021 & 2022-2026

DUBLIN, September 14, 2022 /PRNewswire/ — The report “Philippines Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2022 Update” has been added to from ResearchAndMarkets.com offer.

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Philippines’ The gift card industry is expected to grow 14.4% on an annual basis to reach US$605.5 million in 2022. The gift card market in The Philippines recorded steady growth with a CAGR of 12.0% during the period 2017-2021.

Despite the short-term challenges in 2022, the medium and long-term growth of gift cards in Philippines stay strong. The gift card industry Philippines is expected to grow steadily in H1 2022 and record strong growth in H2 2022.

The growth momentum is expected to continue increasing over the forecast period, registering a CAGR of 12.1% over the period 2022-2026. The domestic gift card market will grow from US$529.5 million in 2021 to reach $954.5 million by 2026.

The gift card market in 2021 was driven by a wide range of factors, which supported growth in the retail and corporate segments. Key drivers included the growth of e-commerce, increased adoption to entice employees to work remotely, digital gifts, and initiatives undertaken by the government, hospitality, and travel industries to jump-start growth. Although the gift card market has been impacted by COVID-19, the market is expected to rebound in the coming quarters, especially in the first half of 2022.

Gift card industry in The Philippines held up well to the impact of the economic downturn as well as negative business and consumer sentiment due to the disruptions caused by the Covid-19 outbreak.

Reasons to buy

  • In-Depth Understanding of Gift Cards and Incentive Cards Market Dynamics: Understand the market opportunities, key trends and drivers along with the five-year forecast (2017-2026) for Gift Cards and Incentive Cards in The Philippines.

  • 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.

  • Get insights into consumer attitude and behavior in The Philippines: Understand changing consumer attitude and behavior and increase return on investment. 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.

Scope

Closed-loop gift card market share by major retailers. Major retailers covered include:

JTotal spend on gifts in Philippines

  • By consumer segment (retail and business)

  • By product categories (13 segments)

  • By retail sectors (7 segments)

Gift Card Market Size by KPIs in Consumption Segments Philippines

Gift Card Market Size by Consumer Segment in Philippines

Digital gift card market size in Philippines

Gift Card Market Size by Retail Consumer in Philippines

Gift Card Spending by Consumer Behavior and Demographics Philippines

  • 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 Philippines

Spending on gifts by product categories (disaggregated by individuals and businesses) in Philippines

  • food and drinks

  • Health, well-being and beauty

  • Clothing, shoes and accessories

  • Books and multimedia products

  • Consumer electronics

  • Restaurants & Bars

  • Toys, children and babies

  • Jewelry

  • Sport stuff

  • Home and kitchen accessories and appliances

  • Travel

  • Entertainment and games

  • Other

Spending on gift cards by retail sector (split between retail consumers and businesses) in Philippines

  • E-commerce and department stores

  • Restaurants & Bars

  • Supermarket, hypermarket, convenience store

  • Entertainment and games

  • Specialty stores

  • Health

  • Travel

Spending on gift cards by distribution channel (split between individuals and businesses) in Philippines

  • Online gift card sales

  • Offline gift card sales

  • First party sales

  • Sales to third parties

  • Increase in sales

For more information about this report visit https://www.researchandmarkets.com/r/wffzvy

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