Dublin, Oct. 02, 2020 (GLOBE NEWSWIRE) -- The "Italy 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.
Italy is currently going through one of the worst recessions in recent years, triggered by Covid-19 outbreak. The pandemic has impacted consumer and business sentiments, which are at their lowest in last 10 years. Consequently, gift card industry in Italy is expected to record a period of low growth over the short term. However, overall gift card penetration has been increasing in the overall gifting market, a trend which is expected to continue over the forecast period.
In value terms, the gift card market in Italy has recorded a CAGR of 13.0% during 2015-2019.The gift card industry in Italy will continue to grow over the forecast period and is expected to record a CAGR of 8.5% during 2020-2024. Gift card market in the country will increase from US$ 6301.6 million in 2019 to reach US$ 8036.3 million by 2024.
Over the medium term, the author expects gift card industry to continue to grow.
As the e-commerce business continues to grow in Italy, it is also benefiting the growth of the gift card segment. In 2019, the e-commerce market recorded a growth of 15% over 2018. As a result of this, gift card adoption in the e-commerce market for making online purchases has also increased in Italy. Leading e-commerce companies such as Amazon, Zalando, and YOOX have a strong presence in the Italian gift card market .
In Italy, corporate spending on gift cards is increasing, primarily due to companies offering their employees with rewards and incentives. Festivals such as Christmas is one of the popular occasions, where companies offer bonuses to their employees using gift cards. To target this segment of the market, Amilon SRL, one of the leading domestic digital gift card providers offers a wide range of digital corporate gift cards through its Giftcard Store, particularly designed for corporates. Both the retail and corporate spending on gift cards will continue to support the growth of the gift card market.
Another emerging trend that will boost the growth momentum of the gift card market is the ability to buy bitcoins with gift cards in Italy.
It is expected that the increasing market attractiveness will encourage merger and acquisitions activities over the period. For instance, in December 2019, Zucchetti Group, a leading Italian software, and hardware service provider acquired 51% stake in Amilon SRL , a Milan-based digital gift card provider. The acquisition is part of the Zucchetti Group's expansion strategy in the gift card sector and to offer Amilon's already established services to the retail, hospitality and the HR sector s. Moreover, Amilon offers its services to more than 20 countries therefore, this deal will help Zucchetti Group to reach a wider consumer base.
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 Italy. 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 Italy.
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 Italy: 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.
Coop Italia scarl
CONAD - Consorzio Nazionale Dettaglianti Scrl
Selex Gruppo Commerciale SpA
Auchan Group SA
Crai Secom SpA
Schwarz Beteiligungs GmbH
Coin SpA, Gruppo
Euronics International Ltd
Inter Ikea Systems BV
Expert International GmbH
For more information about this report visit https://www.researchandmarkets.com/r/6msdss
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