Report on Market Intelligence and Future Growth of United Arab Emirates Gift Cards and Incentive Cards 2021-2025

DUBLIN, September 22, 2021 / PRNewswire / – The report “United Arab Emirates 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.

According to the Global Gift Card Survey for the second quarter of 2021, the gift card industry in United Arab Emirates is expected to grow 14.9% on an annual basis to reach US $ 1,424.9 million in 2021.

Despite the short-term challenges in 2021, the medium to long-term growth story of gift cards in United Arab Emirates stay strong. The gift card industry in United Arab Emirates is expected to grow steadily in H1 2021 and register strong growth in H2 2021.

Growth momentum is expected to continue to grow over the forecast period, registering a CAGR of 12.2% in 2021-2025. The gift card market in the country will grow from $ 1,239.9 million in 2020 to reach US $ 2,257.1 million by 2025.

The UAE gift card market has grown rapidly in recent years, with customers increasingly preferring gift cards to conventional gifts. In addition, the growth of e-commerce has opened up new horizons for the digital gift card market. The e-commerce market is expected to continue to grow as consumers continue to shop online and merchants recognize the need for an online presence.

Additionally, due to the pandemic, there has been a shift towards online shopping. This trend is expected to continue in the long term as consumers prefer more flexible payment options available when shopping online. Retailers are capitalizing on this trend and offering digital gift cards to attract customers and generate revenue.

According to the 2021 Q2 Global Gift Card Survey, around 65% of consumers have made purchases online due to COVID-19. The convenience of contactless payment, as well as the speed and security of online payments were cited as the main reasons for preferring online shopping and payment. This trend is likely to support the growth of digital gift cards.

Gift cards are also used as a payment instrument. For example, Amazon.ae has partnered with du and Etisalat to allow customers to top up their phones using Amazon.ae debit, credit or gift cards.

What’s more, mall gift cards are also seeing an increase in traction. For example, Landmark Group launched Shukran Gift Card in the United Arab Emirates and several other countries in the Middle East in november 2020. The card, which is valid for 12 months, can be used at Landmark Group retail stores and F&B, Hospitality Experiences. Cards can also be used for corporate gifts and are customizable for bulk purchases.

Earlier in February 2020, Lulu, the real estate arm of a UAE-based retail group, Line Investments & Property introduces Laka Gift Card which allows customers to shop at points of sale in eight shopping centers in Abu Dhabi and Al Ain. The Laka 4U Gift Card is offered in US $ 14 and 27 USD (Dh50 and Dh100) denominations. This decision was part of the strategy to increase footfall to these shopping centers and improve the customer experience.

The gift card market is competitive with the presence of a large number of international players. Recently in August 2020, Amaten, from Japan the digital gift card market established its operations overseas in Dubai, United Arab Emirates. In addition, Amazon.ae offers gift cards valid for 10 years and in both physical and virtual formats. Electronic gift cards are available up to AED 6,000, while physical cards are available in various denominations ranging from AED 50 to AED 1,500. The growing presence of international players will further intensify competition in the market.

Entertainment-based gift cards are gaining popularity in UAE thanks to the increasing penetration of smartphones as well as the growing popularity of OTT (over-the-top) media or internet streaming services. OTT traffic has accelerated further during the COVID era as people are confined to their homes and spend more time on leisure activities.

In October 2020, Mastercard has partnered with Amazon to offer Amazon Prime members in the UAE 20% cash back in the form of a gift card during the main day of the October 13-14, when paid with Mastercard. In addition, customers signing up for Mastercard Platinum, World and World Elite Mastercard debit and credit cards issued by banks in the United Arab Emirates will receive an annual subscription to Amazon Prime. Additionally, Netflix offers a UAE gift card that can be used to pay for subscriptions. The growing demand for online home entertainment platforms is creating a huge opportunity for entertainment based gift cards as a tool to attract more consumers.

This report provides a detailed data-centric analysis of the Corporate Gift Cards and Incentive Cards market as well as consumer behavior and retail spend dynamics in United Arab Emirates. With over 200 country-level KPIs, this report provides a complete understanding of the dynamics of the Gift Cards and Incentive Cards market.

Scope

Total spending on gifts in United Arab Emirates

  • 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 in United Arab Emirates

  • 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 in United Arab Emirates

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

Digital Gift Card Market Size in United Arab Emirates

  • 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 in United Arab Emirates

  • 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 in 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 Corporate Client in United Arab Emirates

  • 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) in United Arab Emirates

  • 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 sector (broken down by retail and business consumers) in United Arab Emirates

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

Gift card spending by distribution channel (broken down by retail and corporate consumers) in United Arab Emirates

  • 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. The main retailers covered include:

  • Carrefour SA
  • Union of Consumer Cooperatives (CCU)
  • Landmark Group
  • Emke Group
  • Life Health Group
  • Damas International Ltée
  • T Choithram & Fils
  • Sharaf DG LLC
  • Inter Ikea Systems BV

For more information on this report, visit https://www.researchandmarkets.com/r/7r62au

Media contact:

Research and markets
Laura Wood, senior
[email protected]

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SOURCE Research and Markets

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