Dublin, Oct. 02, 2020 (GLOBE NEWSWIRE) -- The "Finland Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2015-2024) - Covid-19 Update Q2 2020" report has been added to ResearchAndMarkets.com's offering.
Historically, the gift card market in Finland has recorded a steady growth with a CAGR of 12.4% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Finland is expected to be impacted across retail and corporate segments due to disruption caused by Covid-19 outbreak.
This report details the impact of economic slowdown along with change in business and consumer sentiment due to disruption caused by Covid-19 outbreak on gift card industry in Finland.
Though growth of gift card industry will be impacted due to pandemic, there are certain segments such as self-use which will gain significant market share. Adoption of e-Gift cards is also expected to increase significantly over the next 4-6 quarters. There are interesting trends emerging across various segments, which are expected to fundamentally reshape gift card industry dynamics.
Despite near-term challenges, medium to long term growth story of gift cards in Finland remains strong. The gift card industry in Finland will continue to grow over the forecast period and is expected to record a CAGR of 7.9% during 2020-2024. The gift card market in the country will increase from US$ 679.5 million in 2019 to reach US$ 929.4 million by 2024.
Growth in the gift card market has been driven by increasing digital gift card adoption, which in turn, is driven by high growth of e-commerce business in Finland. As the e-commerce market continues to grow, it will keep supporting the growth of the digital gift card industry in the country.
Apart from this, gift card adoption has increased during festivals such as Christmas. According to the Q4 2019 survey, all key retailers have witnessed strong increase in gift card sales during Christmas in Finland.
Corporate spending on gift cards to reward and offer an incentive to employees is also boosting the growth of the gift card industry in the country. Some of the key third party players offering corporate gift cards in Finland include Perfect Finnish and Ticket Master.
Another factor that will drive the future growth of the gift card market is the ability to buy bitcoins and other altcoins through gift cards and vice versa.
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 Finland. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
Reasons to Buy
In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2014-2023) for gift cards and incentive cards in Finland.
Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
Get insights into consumer attitude and behaviour in Finland: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
Get complete perspective through 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 gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
Key Retailers Covered Include:
Suomen Lahikauppa Oy
Stockmann Oyj Abp
Dixons Carphone Plc
Inter Ikea Systems BV
Intersport International Corp (IIC)
For more information about this report visit https://www.researchandmarkets.com/r/qs2z4u
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