Dublin, Oct. 07, 2020 (GLOBE NEWSWIRE) -- The "Greece 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.
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 Greece.
Historically, the gift card market in Greece has recorded a steady growth with a CAGR of 11.6% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Greece is expected to be impacted across retail and corporate segments due to disruption caused by Covid-19 outbreak.
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 Greece remains strong. The gift card industry in Greece will continue to grow over the forecast period and is expected to record a CAGR of 8.8% during 2020-2024. The gift card market in the country will increase from US$ 645.2 million in 2019 to reach US$ 902.7 million by 2024.
In Greece, the gift card market is growing at a steady rate. The adoption of gift cards is increasing along with the rising preference of cashless payment instruments among millennials. The increasing popularity of mobile wallets and mobile-based payment options is creating an opportunity for fintech companies to collaborate with retailers to offer gift cards in the country. Moreover, the demand for gift cards is also increasing among corporates as a tool to offer incentives and bonuses to their employees. Additionally, the government's push to the digital economy is also creating scope for the gift card market.
The strong growth of the e-commerce sector is also expanding the gift card market growth. According to the Greek e-Commerce Association (GRECA) survey, in 2019, over 7,000 businesses have digital outlets and an estimated 3.8 million online users in Greece. Therefore, to target this large consumer base, online retailers are implementing different promotional activities such as personalized gift cards. For instance, leading online retailers such as skroutz.gr, ebay.com, and xe.gr have a strong presence in the gift card market.
Besides online retailers, domestic shopping malls and grocery retailers are also offering gift cards to attract consumers. For instance, Mediterranean Cosmos, one of the largest shopping malls in Northern Greece offers its gift cards which can be redeemed at more than 200 stores in the mall. Moreover, some of the popular gift cards available in Greece include IKEA gift cards and Zara gift cards. These gift cards can be used to shop for products in Zara and IKEA stores across Greece.
The gift card market also recorded substantial demand from the corporate sector. This trend is giving opportunity for gift card issuers to target this consumer base. For instance, Edenred, a French gift card, and meal voucher provider has been increasing its market share by offering Ticket Compliments Gift Card targeting corporates in Greece. Corporates have the option to customize this gift card according to their needs.
Another trend that will provide support for the growth of the gift card industry is the buying of cryptocurrencies through gift cards. Some of the key third party players in the gift card industry include bitrefill.com and mygiftcardsupply.com.
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 Greece. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
Total Spend on Gifts in Greece
By Consumer Segment (Retail and Corporate)
By Product Categories (13 Segments)
By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments in Greece
Gross Load Value
Average Value Per Transaction
Average Value of Card Purchased
Number of Cards
Gift Card Market Size by Consumer Segment in Greece
Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Greece
By Retail Consumer
By Retail Purchase Occasion
By Corporate Consumer
By Corporate Purchase Occasion
By Company Size
Gift Card Market Size by Retail Consumer in Greece
By Functional Attribute
Festivals & Special Celebration Days
Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in Greece
Consumer Purchase Behaviour
Gift Card Buyer by Age Group
Gift Card Buyer by Income Level
Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer in Greece
By Functional Attribute
By Scale of Business
Budget Allocation Trend for 2020
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Greece
Food & Beverage
Health, Wellness & Beauty
Apparel, Footwear & Accessories
Books & Media Products
Restaurants & Bars
Toys, Kids, and Babies
Home & Kitchen Accessories & Appliances
Entertainment & Gaming
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Greece
Ecommerce & Department Stores
Restaurants & Bars
Supermarket, Hypermarket, Convenience Store
Entertainment & Gaming
Health & Wellness
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Greece
Gift Card Online Sales
Gift Card Offline Sales
1st Party Sales
3rd Party Sales
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
Schwarz Beteiligungs GmbH
Sklavenitis J&S SA
Diamantis Masoutis SA
Inditex, Industria de Diseo Textil SA
Dixons Carphone Plc
Plaisio Computers SA
Inter Ikea Systems BV
Praktiker Hellas Trading Co SA
H&M Hennes & Mauritz AB
For more information about this report visit https://www.researchandmarkets.com/r/sbd66r
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