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Philippines Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update

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    Report

  • 268 Pages
  • February 2024
  • Region: Philippines
  • PayNXT360
  • ID: 4751547
According to the publisher, the gift card industry in the country is expected to grow by 10.8% on annual basis to reach US$0.7 billion in 2024.

The gift card industry in Philippines will continue to grow over the forecast period and is expected to record a CAGR of 9.0% during 2024-2028. Gift card market in the country will increase from US$0.7 billion in 2023 to reach US$1.0 billion by 2028.

The gift card industry is poised to record strong growth over the medium term in the Philippines. The thriving e-commerce market, coupled with enhanced digital payment infrastructure and smartphone penetration, are among the factors aiding the adoption of digital gift cards. This trend is projected to continue further in the Philippines in 2024, thereby supporting market growth over the medium term.

Several new businesses, across industry verticals, are expected to launch innovative gift card programs amid rising adoption of the payment tool. This will aid the competitive landscape in 2024. The industry will also receive growth support from government disbursement programs in 2024. Overall, the publisher maintains a positive growth outlook for the gift card market in the Philippines over the next three to four years.

Indian gift card providers are forging strategic partnerships to widen the distribution of their products in the Philippines

The Philippines gift card market is poised to grow at a steady rate over the medium term. India-based gift card providers are targeting this growth through strategic partnerships and new product launches in 2024.
  • Qwikcilver, owned by Pine Labs, entered into a strategic partnership with foodpanda in December 2023. The two firms have collaborated to launch foodpanda Gift Cards. Initially, the gift cards will be made available for corporate customers of foodpanda in Singapore and Thailand.
  • Going forward, however, the gift cards will be made available across all 11 markets where foodpanda operates, including in the Philippines. With a presence in over 400 cities, foodpanda is a leading player in the online food delivery and grocery delivery segment. This partnership is, therefore, expected to further strengthen the position of Qwikcilver as a leading gift card provider in the region over the medium term.
The publisher expects more such gift card providers to enter into similar strategic collaborations in 2024. This will further aid the competitive landscape, while also supporting the market growth over the next three to four years.

Government disbursement programs to aid the growth of Filipino gift card industry in 2024

To disburse monetary support to the underserved and underprivileged community in an efficient manner, government institutions make use of gift cards globally, and similar trends are emerging in the Philippines.
  • Parañaque City Government, in December 2023, disbursed Christmas gift cards to a total of 15,000 individuals with disabilities. Each of the beneficiaries, notably, received P2,000 worth of gift certificates. These gift cards are available to be redeemed at grocery stores, restaurants, and other food establishments.
The publisher expects more regional governments to undertake gift card disbursement programs in 2024. This will support the growth of the broader gift card industry in the Philippines from a short to medium-term perspective.

Online marketplaces are introducing gift card solutions to expand portfolios and diversify revenue stream

With gift cards gaining strong popularity among Filipino nationals, online marketplaces are seeking to tap into the growing demand as part of their strategy to expand their portfolio and diversify their revenue stream.
  • PLDT Inc., the owner of an online marketplace catering to overseas Filipino workers (OFWs), has expanded its range of digital services to offer more options for customers to stay connected with their families back in the Philippines. Tindahan ni Bossing (TINBO), managed by PLDT Global Corp., launched gift vouchers and online shopping features on its platform in December 2023. This is part of the firm’s strategy to better address the needs of OFWs, while also targeting higher sales and growth of the platform. The gift vouchers are also available to be bought on e-commerce platforms like Lazada and Shopee through TINBO for their families in the Philippines.
Going forward, the publisher expects more such marketplaces to launch gift card products, thereby aiding the competitive landscape. This will also support the growth of the gift card market from the short to medium-term perspective in the Philippines.

Gift card market in 2023 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.

This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.

Scope

Total Spend on Gifts in Philippines

  • 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 Philippines

  • 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 in Philippines

  • Retail Consumer
  • Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size in Philippines

  • 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 Philippines

  • By Functional Attribute
  • By Occasion
1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. Other
  • Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics in Philippines

  • 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 Philippines

  • By Functional Attribute
  • By Occasion
1. Employee Incentive
2. Sales Incentive
3. Consumer Incentive
  • By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Philippines

  • 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) in Philippines

  • 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) in Philippines

  • Gift Card Online Sales
  • Gift Card Offline Sales
  • 1st Party Sales
  • 3rd Party Sales
  • Sales Uplift

Gift Card Sales Estimates by Key RetailersReasons 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 (2019-2028) for gift cards and incentive cards in the Philippines.
  • 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 the Philippines: 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.

Table of Contents

1 About this Report
1.1 Summary
1.2 Methodology
1.3 Definition
1.4 Disclaimer
2 Philippines Total Gift Spend Analyzer
2.1 Total Spend on Gift by Value - Market Size and Forecast, 2019-2028
2.2 Total Spend on Gift by Volume - Market Size and Forecast, 2019-2028
2.3 Total Gift Spend Market Share Analysis by Consumer Segment, 2019-2028
2.4 Gift Spend Market Size and Forecast Analysis by Product Category, 2019-2028
2.5 Gift Spend Market Share Analysis by Product Category, 2019-2028
2.6 Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector, 2019-2028
2.7 Total Gift Spend Market Share Analysis by Retail Sector, 2019-2028
3 Philippines Retail Consumer Gift Spend Analyzer
3.1 Retail Consumer Spend on Gift - Market Size and Forecast, 2019-2028
3.2 Retail Consumer Gift Spend Market Analysis by Volume, 2019-2028
3.3 Retail Consumer Gift Spend Market Size and Forecast Analysis by Product Category, 2019-2028
3.4 Retail Consumer Gift Spend Market Share Analysis by Product Category, 2019-2028
3.5 Retail Consumer Gift Spend Market Size and Forecast Trend Analysis by Retail Sector, 2019-2028
3.6 Retail Consumer Total Gift Spend Market Share Analysis by Retail Sector, 2019-2028
4 Philippines Corporate Consumer Gift Spend Analyzer
4.1 Corporate Consumer Spend on Gift - Market Size and Forecast, 2019-2028
4.2 Corporate Consumer Gift Spend Market Analysis by Volume, 2019-2028
4.3 Corporate Consumer Gift Spend Market Size and Forecast Analysis by Product Category, 2019-2028
4.4 Corporate Consumer Gift Spend Market Share Analysis by Product Category, 2019-2028
4.5 Corporate Consumer Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector, 2019-2028
4.6 Corporate Consumer Total Gift Spend Market Share Analysis by Retail Sector, 2019-2028
5 Philippines Gift Card Spend Analyzer
5.1 Gift Card Spend Market Size and Forecast, 2019-2028
5.2 Gift Card Spend Market Analysis by Transaction Value and Volume, 2019-2028
5.3 Gift Card Spend Market Analysis by Avg. Value and Unused Value, 2019-2028
5.4 Gift Card Spend Market Share Analysis by Consumer Segment, 2019-2028
5.5 Gift Card Spend Market Share Analysis by Functional Attribute, 2019-2028
5.6 Digital Gift Card Spend Market Size and Forecast, 2019-2028
6 Philippines Digital Gift Card Spend Analyzer
6.1 Digital Gift Card Market Size and Forecast, 2019-2028
6.2 Digital Gift Card Penetration by Occasion, 2019-2028
6.3 Retail Consumer Digital Gift Card Market Size and Forecast, 2019-2028
6.4 Retail Consumer Digital Gift Card Spend Market Share Analysis by Occasion, 2019-2028
6.5 Corporate Consumer Digital Gift Card Market Size and Forecast, 2019-2028
6.6 Corporate Consumer Digital Gift Card Spend Market Share Analysis by Occasion, 2019-2028
6.7 Corporate Consumer Digital Gift Card Spend Market Share Analysis by Company Size, 2019-2028
6.8 Large Enterprise Segment Digital Gift Card Spend Analysis, 2019-2028
6.9 Mid-Tier Segment Digital Gift Card Spend Analysis, 2019-2028
6.1 Small Scale Segment Digital Gift Card Spend Analysis, 2019-2028
7 Philippines Gift Card Spend Share by Demographics and Purchase Behaviour
7.1 Gift Card Spend Share by Age, Income, and Gender, 2023
7.2 Digital Gift Card Spend Share by Age, Income, and Gender, 2023
7.3 Gift Card Consumer Purchase Behaviour, 2023
7.4 Corporate Consumer Gift Card Spend by Company Type, 2023
8 Philippines Retail Consumer Gift Card Spend Analyzer
8.1 Retail Consumer Gift Card Spend Market Size and Forecast, 2019-2028
8.2 Retail Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
8.3 Retail Consumer Gift Card Spend Market Share Analysis by Functional Attribute, 2019-2028
8.4 Retail Consumer Digital Gift Card Spend Market Size and Forecast, 2019-2028
9 Philippines Retail Consumer Gift Card Spend Analysis by Functional Attribute, 2019-2028
9.1 Retail Consumer Gift Card Spend Market Size and Forecast - Open Loop vs. Closed Loop, 2019-2028
9.2 Retail Consumer Open Loop Gift Card Spend Market Size and Forecast, 2019-2028
9.3 Retail Consumer Closed Loop Gift Card Spend Market Size and Forecast, 2019-2028
9.4 Retail Consumer Average Value of Gift Card Purchased by Functional Attribute, 2019-2028
10 Philippines Retail Consumer Gift Card Spend Analysis by Occasion
10.1 Retail Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
10.2 Retail Consumer Gift Card Spend Market Size and Forecast - Festivals & Special Celebration Days, 2019-2028
10.3 Retail Consumer Gift Card Spend Market Size and Forecast - Milestone Celebration, 2019-2028
10.4 Retail Consumer Gift Card Spend Market Size and Forecast - Self-Use, 2019-2028
10.5 Retail Consumer Gift Card Spend Market Size and Forecast - Other, 2019-2028
11 Philippines Corporate Consumer Gift Card Spend Analyzer
11.1 Corporate Consumer Gift Card Spend Market Size and Forecast, 2019-2028
11.2 Corporate Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
11.3 Corporate Consumer Gift Card Spend Market Share Analysis by Functional Attribute, 2019-2028
11.4 Corporate Consumer Digital Gift Card Spend Market Size and Forecast, 2019-2028
12 Philippines Corporate Consumer Gift Card Spend Analysis by Functional Attribute
12.1 Corporate Consumer Gift Card Spend Market Size and Forecast - Open Loop vs. Closed Loop, 2019-2028
12.2 Corporate Consumer Open Loop Gift Card Spend Market Size and Forecast, 2019-2028
12.3 Corporate Consumer Closed Loop Gift Card Spend Market Size and Forecast, 2019-2028
12.4 Corporate Consumer Average Value of Gift Card Purchased by Functional Attribute, 2019-2028
13 Philippines Corporate Consumer Gift Card Spend Analysis by Occasion
13.1 Corporate Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
13.2 Corporate Consumer Gift Card Spend Market Size and Forecast - Employee Incentive, 2019-2028
13.3 Corporate Consumer Gift Card Spend Market Size and Forecast - Sales / Channel Incentive, 2019-2028
13.4 Corporate Consumer Gift Card Spend Market Size and Forecast - Consumer Incentive, 2019-2028
14 Philippines Corporate Consumer Gift Card Spend Analysis by Company Size
14.1 Corporate Consumer Gift Card Spend Market Share Analysis by Company Size, 2019-2028
14.2 Corporate Consumer - Large Enterprise Segment - Gift Card Spend Market Size and Forecast, 2019-2028
14.3 Corporate Consumer - Mid-Tier Segment - Gift Card Spend Market Size and Forecast, 2019-2028
14.4 Corporate Consumer - Small Scale Segment - Gift Card Spend Market Size and Forecast, 2019-2028
15 Philippines Corporate Consumer Gift Card Spend Analysis by Company Size X Functional Attribute
15.1 Large Enterprise Segment Gift Card Spend Market Share Analysis by Functional Attribute, 2019-2028
15.2 Mid-Tier Segment Gift Card Spend Market Share Analysis by Functional Attribute, 2019-2028
15.3 Small Scale Segment Gift Card Spend Market Share Analysis by Functional Attribute, 2019-2028
16 Philippines Gift Card Spend Analysis by Distribution Channel
16.1 Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2021-2028
16.2 Retail Consumer Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2021-2028
16.3 Corporate Consumer Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2021-2028
16.4 Gift Card Spend Market Size and Forecast by Online Distribution Channel - 1st Party Sales vs. 3rd Party Sales, 2021-2028
17 Philippines Gift Card Spend Analysis by Retail Sector
17.1 Gift Card Spend Market Size and Forecast by Retail Sector, 2019-2028
17.2 Total Gift Card Spend Market Share Analysis by Retail Sector, 2019-2028
17.3 Sales Uplift by Retail Sector, 2023
18 Philippines Retail Consumer Gift Card Spend Analysis by Retail Sector
18.1 Retail Consumer - Gift Card Spend Market Size and Forecast by Retail Sector, 2019-2028
18.2 Retail Consumer Gift Card Spend Market Share Analysis by Retail Sector, 2019-2028
19 Philippines Corporate Consumer Gift Card Spend Analysis by Retail Sector
19.1 Corporate Consumer - Gift Card Spend Market Size and Forecast by Retail Sector, 2019-2028
19.2 Corporate Consumer Gift Card Spend Market Share Analysis by Retail Sector, 2019-2028
20 Gift Card Sales Estimates by Key Retailers

Companies Mentioned

  • Puregold Price Club
  • Savemore
  • The SM Store
  • Mercury Drug
  • Robinsons Supermarket
  • SM Hypermarket
  • SM Supermarket
  • New City Commercial Corporation Mall
  • Rustan’s Supermarket

Table Information