Dublin, Feb. 15, 2021 (GLOBE NEWSWIRE) -- The "China Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Spend Analysis by Digital / e-Gift Card, Retail and Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.
The Chinese gift card market outperformed global peers, recording the strongest growth in 2020. The Chinese economy bounced back sharply with 4.9% growth between July and September 2020, outperforming global markets. Consequently, both retail and corporate consumer sentiment has turned positive, and in turn expected to drive growth of gift card in 2021.
Being the global leader in the e-commerce segment, the increasing number of internet users is driving the strong growth in China. With more than 900 million internet users, adoption of digital gift cards (e-gift cards) in China is faster than other comparable markets.
Increasingly, gift cards are being integrated into smartphone devices to enable mobile payment. Open loop gift cards and gift cards from leading online retailers are outperforming the rest of the market, a trend expected to continue over the forecast period.
Many e-gift card providers do not require users to register with their actual names, therefore ensuring their anonymity and making it impossible to be traced back to an individual. This has provided a boost for the growth of the gift card market in the country.
Increasing corporate spending on gift cards will keep supporting the growth of the market in the years to come. Moreover, the trend of buying bitcoins and altcoins with gift cards is also pushing the growth of the industry. Some of the key third-party providers of gift cards include Alibaba.com and seagm.com. Alibaba.com also allows users to purchase its stocks which can be given as gift cards to others.
Spend on AI has been increasing over the last few years to drive gift card personalization and to curb security issues. Development in machine learning has unfolded many opportunities for gift card companies. By using machine learning and data analytics, gift card issuers in China are focusing on customer acquisition and retention policies.
The gift card industry in China is expected to grow by 11.1% on annual basis to reach US$ 137541.7 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in China remains strong. The gift card industry in China is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 9.9% during 2021-2025. The gift card market in the country will increase from US$ 123785.8 million in 2020 to reach US$ 200702.5 million by 2025.
This report provides a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in China. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
The report includes raw data along with structured dashboards, charts, and tables in an interactive Excel format.
Alibaba Group Holding Ltd
Auchan Group SA
Wal-Mart Stores Inc
Bailian Group Co Ltd
Yonghui Superstores Group
Key Topics Covered:
1 China Total Gift Spend Analyzer
1.1 Total Spend on Gift by Value - Market Size and Forecast, 2016-2025
1.2 Total Spend on Gift by Volume - Market Size and Forecast, 2016-2025
1.3 Total Gift Spend Market Share Analysis by Consumer Segment, 2016-2025
1.4 Gift Spend Market Size and Forecast Analysis by Product Category
1.5 Gift Spend Market Share Analysis by Product Category
1.6 Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
1.7 Total Gift Spend Market Share Analysis by Retail Sector
2 China Retail Consumer Gift Spend Analyzer
3 China Corporate Consumer Gift Spend Analyzer
4 China Gift Card Spend Analyzer
5 China Digital Gift Card Spend Analyzer
6 China Gift Card Spend Analysis by City Type
7 China Gift Card Spend Share by Demographics and Purchase Behaviour
8 China Retail Consumer Gift Card Spend Analyzer
9 China Retail Consumer Gift Card Spend Analysis by Functional Attribute
10 China Retail Consumer Gift Card Spend Analysis by Occasion
11 China Corporate Consumer Gift Card Spend Analyzer
12 China Corporate Consumer Gift Card Spend Analysis by Functional Attribute
13 China Corporate Consumer Gift Card Spend Analysis by Occasion
14 China Corporate Consumer Gift Card Spend Analysis by Company Size
15 China Corporate Consumer Gift Card Spend Analysis by Company Size X Functional Attribute
16 China Gift Card Spend Analysis by Distribution Channel
17 China Gift Card Spend Analysis by Retail Sector
18 China Retail Consumer Gift Card Spend Analysis by Retail Sector
19 China Corporate Consumer Gift Card Spend Analysis by Retail Sector
20 China Closed Loop Gift Card Market Share Analysis by Top Retailers
For more information about this report visit https://www.researchandmarkets.com/r/z1qybo
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