Latin America Gift Card and Incentive Card Market Report 2021-2025: Spend Analysis by Digital/e-Gift Card, Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics
Dublin, March 26, 2021 (GLOBE NEWSWIRE) -- The "Latin America 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 gift card market in Latin America is expected to record steady growth due to changing customer preference towards gift cards and increased adoption in self-use segment. Increased use of gift cards for self-gifting, supported by discounts offered by retailers is supporting market growth. The growing popularity of gift cards is offering lucrative opportunities for gift card issuers.
The COVID-19 pandemic has changed consumer purchasing behavior pushing consumers to rely on e-commerce. Shoppers prefer shopping online due to the convenience, speed, benefits, and savings it offers. Consequently, digital gift cards are expected to gain market share over the forecast period mainly due to growth in e-commerce and rise in internet penetration in the region.
E-commerce market in Latin America has been recording growth in the recent years and is further expected to grow in the coming quarters. Brazilian e-commerce sales increased significantly in 2020, as consumers shifted to online shopping due to the pandemic. In Mexico, e-commerce is estimated to account for over 25% of total retail sales in 2020. Online retailers are capitalizing on the growing e-commerce trend to offer digital gift cards in order to attract new customers and improve brand awareness.
Moreover, rising demand for online streaming services is likely to create demand for entertainment based gift cards as customers spend more time on indoor entertainment activities. Due to the pandemic as customers are confined to their homes, Netflix saw a rise in subscriber base and began to offer gift cards to attract customers.
Mexico and Brazil have observed entry of international players in the gift card market. For instance, in November 2020, InComm Payments acquired Todo Cartoes, a closed-loop gift card processor in Brazil, to improve its presence in the country. The deal will allow InComm to process and distribute closed-loop gift cards to retailers in Brazil. Consolidation in the gift card market is expected to continue in the coming quarters as players look to strengthen their market position and compete effectively. Also, Tango Card, a digital rewards and incentives provider in the US, offers e-gift cards of various brands including Domino's, Burger King, Cinepolis, Best Buy, Starbucks, Uber , and others, in Mexico.
Corporate gift cards are also likely to see growth as employees look for flexible and discounted gifting options. Companies are offering rewards and incentives via gift cards especially during holiday season. Giftly.com and mexico.net.nz are some of the popular third-party gift card providers in Mexico.
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.
Though growth of gift card industry has been impacted due to pandemic, there are certain segments which will gain market share. 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 remains strong.
Scope
This bundled offering provides the following detailed gift card market opportunity at country level
Total Spend on Gifts
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
Gross Load Value
Transaction Value
Unused Value
Average Value Per Transaction
Transaction Volume
Average Value of Card Purchased
Number of Cards
Gift Card Market Size by Consumer Segment
Retail Consumer
Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size
By Retail Consumer
By Retail Purchase Occasion
By Corporate Consumer
By Corporate Purchase Occasion
By Company Size
Gift Card Market Size by Retail Consumer
By Functional Attribute
By Occasion
Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics
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
By Functional Attribute
By Occasion
1. Employee Incentive
2. Sales Incentive
3. Consumer Incentive
By Scale of Business
Budget Allocation Trend for 2021
Gift Spend by Product Categories (Split by Retail and Corporate Consumers)
Food & Beverage
Health, Wellness & Beauty
Apparel, Footwear & Accessories
Books & Media Products
Consumer Electronics
Restaurants & Bars
Toys, Kids, and Babies
Jewelry
Sporting Goods
Home & Kitchen Accessories & Appliances
Travel
Entertainment & Gaming
Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)
Ecommerce & Department Stores
Restaurants & Bars
Supermarket, Hypermarket, Convenience Store
Entertainment & Gaming
Specialty Stores
Health & Wellness
Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)
Gift Card Online Sales
Gift Card Offline Sales
1st Party Sales
3rd Party Sales
Sales Uplift
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
Cencosud SA
Carrefour SA
Coto CICSA
MercadoLibre Inc
Importadora y Exportadora de la Patagonia SA
Wal-Mart Stores Inc
Garbarino SA
Casino Guichard-Perrachon SA
Natura Cosmeticos SA
Lojas Americanas SA
Adeo Groupe
Magazine Luiza SA
Falabella SACI
SMU SA
Feria Chilena del Libro SA
PriceSmart Inc
Inditex, Industria de Diseno Textil SA
Confecciones Leonisa SA
Organizacion Soriana SAB de CV
Grupo Comercial Chedraui Sa de CV
Controladora Comercial Mexicana SAB de CV
Farmacias Similares SA de CV
Corporativo Fragua Sa de CV
Home Depot Inc, The
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