Dublin, Sept. 16, 2020 (GLOBE NEWSWIRE) -- The "Singapore 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 Singapore.
Despite near-term challenges, medium to long term growth story of gift cards in Singapore remains strong. The gift card industry in Singapore will continue to grow over the forecast period and is expected to record a CAGR of 11.1% during 2020-2024. The gift card market in the country will increase from US$ 908.1 million in 2019 to reach US$ 1,433.0 million by 2024.
Historically, the gift card market in Singapore has recorded a steady growth with a CAGR of 15.8% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Singapore 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.
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 Singapore. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
Below is a summary of country level trend analyses covered across gift card segments:
- Total gift market: This report provides detailed view of overall spend on gifts, broken down by retail and consumer segments. For both retail and consumer segments, this report provides a breakdown of spend on gifts by product categories (13 segments) and retail sectors (7 segments).
- Gift cards: Drawing from proprietary survey results, this report provides in-depth analysis of opportunities in both open loop and closed loop prepaid gift card categories. Assesses consumer behaviour by type of consumer (retail and corporate - SMB, Mid-Tier, Large Enterprise), gifting occasion, digital gift card (e-gift card), and market share by retail sectors.
- Details six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
- Corporate incentive & loyalty cards: This report provides detailed market dynamics of corporate incentive cards, broadly segmented in three categories - consumer incentive card, employee incentive card, and sales/partner incentive card. It details market size and forecast at category level, by functional attribute (open loop and closed loop), and by corporate consumer segments (small scale business, mid-size business, and enterprise business).
- Digital gift card (e-gift card) analysis: Provides market size and forecast for digital gift cards, broken down by retail and corporate buyers. It also includes gift card spend by occasion (retail - festivals & special celebration days, milestone celebration, self-use, other; Corporate incentive cards -consumer incentive card, employee incentive card, and sales/partner incentive card). The report also includes digital gift card adoption by company size.
- Open loop and closed loop: Provides market estimates and forecasts to assess opportunities in open loop and closed loop gift and incentive card segments across consumer segments.
- Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key KPIs related to gift card dynamics including spend by age, gender, and income level.
- Retail spend: Breaks down retail spend across retail sectors (7 segments) to provide detailed insights on consumer behaviour and changing dynamics of gift card spend.
- Market share by retailer: Provides market share of closed loop gift cards by key retailers in Singapore.
- Distribution channel analysis: Provides market share by distribution channel - online vs offline sales and 1st party vs 3rd party sales (sales through outlet of other retailers).
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
- NTUC FairPrice Co-operative Pte Ltd
- Dairy Farm International Holdings Ltd
- Shen Siong Supermarket Pte Ltd
- Takashimaya Co Ltd
- Mustafa Holdings Pte Ltd
- Courts Asia Ltd
- Al Futtaim Group LLC
- Yamada Denki Co Ltd
- Hutchison Whampoa Ltd
- Challenger Technologies Ltd
- Harvey Norman Holdings Ltd
- Hour Glass Ltd, The
- Isetan Mitsukoshi Holdings Ltd
- OG Pte Ltd
- CK Tang Ltd
- Inter Ikea Systems BV
- LVMH Mot Hennessy Louis Vuitton SA
- Gain City Best-Electric Pte Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ddnrk6
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