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

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    Report

  • 2948 Pages
  • February 2024
  • Region: Asia Pacific
  • PayNXT360
  • ID: 4751554
According to the publisher, the gift card industry in the region is expected to grow by 8.3% on annual basis to reach US$235.7 billion in 2024.

The gift card industry in Asia Pacific will continue to grow over the forecast period and is expected to record a CAGR of 7.2% during 2024-2028. Gift card market in the region will increase from US$217.7 billion in 2023 to reach US$310.7 billion by 2028.

Amid the rising demand, firms are entering into strategic partnerships to launch new products, catering to the needs of varied demographics. Gift card platforms are also launching innovative features to make card transactions faster. In 2024, the publisher expects the market to become even more competitive with the entry of new players across the Asia Pacific region. This will support market growth over the medium term.

In emerging markets, like India, the adoption is poised to increase at a rapid rate over the next three to four years. The rising penetration of the internet and smartphones will aid the adoption of gift cards in emerging markets. The corporate gift card sector is also expected to gain increasing growth momentum in 2024. Overall, the publisher maintains a robust growth outlook for the gift card industry in the Asia Pacific region over the next three to four years.

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

The Asia Pacific gift card market is poised to grow at an accelerated 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. 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 providers to enter into similar strategic collaborations in 2024, as the regional gift card industry provides lucrative growth opportunities for Indian gift card firms. This will further aid the competitive landscape, while also supporting the market growth over the next three to four years.

Online gift card marketplaces are launching innovative features to boost card transaction speed

With the demand for gift cards growing at a rapid rate among consumers across age groups, firms are innovating with their platforms to deliver more convenience and satisfaction to their users.
  • Tbay, the Singapore-based global gift card platform, announced the launch of Quick Sell Mode in December 2023. The new feature has been designed to make card transactions faster. The firm seeks to reduce the gift card transaction time by at least 20% with the introduction of Quick Sell Mode.
  • In the recent past, the firm has introduced a series of measures that have been specifically designed to make gift card transactions safer. The security of gift card transactions is one of the major pain points for the industry. These measures, including requiring card vendors to have more than three years of experience and a good credit record, aim to solve the gift card industry's pain point.
In 2024, the publisher expects the online gift card marketplace to further launch such innovative features and integrate security measures to boost consumer confidence in gift cards. This will subsequently support the adoption of the payment tool while driving the broader industry growth over the next three to four years.

Gift cards are becoming a big business amid growing consumer adoption in Vietnam

The adoption of gift cards is poised to grow at an accelerated pace over the medium term in the Vietnamese market. The uptake is largely driven by the rising middle class and increasing consumer spending. Gift card providers are set to benefit from this, as the trend is expected to continue further in 2024.
  • Got It, one of the early entrants in the gift card sector, has reported strong business growth over the last few years. The firm, notably, generated US$6.3 million in revenue in 2022. This is a 26.8% increase compared to the year before. In 2023, too, the firm is expected to report strong revenue growth, with the firm expecting a rise of nearly 49% during the 12 months.
Got It has attributed the growth to its early entry into the sector. Since 2015, the firm has significantly expanded its business scope. Over the years, the firm has moved from providing just vouchers for offline stores to covering brand partners’ websites and apps. In 2024, it is also planning to foray into the peer-to-peer gifting space, to further drive its revenue growth over the next three to four years.

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 bundled 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 region level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.

This title is a bundled offering, comprising 1 regional and 10 Country Reports.

  • Regional Report - Asia Pacific Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 1 - Australia Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 2 - Indonesia Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 3 - Philippines Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 4 - Singapore Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 5 - Thailand Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 6 - China Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 7 - Japan Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 8 - India Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 9 - South Korea Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 10 - Malaysia Gift Card and Incentive Card Market Intelligence (Databook)

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
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

  • 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
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

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 Asia Pacific.
  • 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 Asia Pacific: 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

This title is a bundled offering, comprising 1 regional and 10 country reports.
Regional Report - Asia Pacific Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 1 - Australia Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 2 - Indonesia Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 3 - Philippines Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 4 - Singapore Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 5 - Thailand Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 6 - China Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 7 - Japan Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 8 - India Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 9 - South Korea Gift Card and Incentive Card Market Intelligence (Databook)
Country Report 10 - Malaysia Gift Card and Incentive Card Market Intelligence (Databook)
All global, regional, and country reports mentioned above will have the following tables of contents:
1 About this Report
1.1 Summary
1.2 Methodology
1.3 Definition
1.4 Disclaimer
2 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
2.5 Gift Spend Market Share Analysis by Product Category
2.6 Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
2.7 Total Gift Spend Market Share Analysis by Retail Sector
3 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
3.4 Retail Consumer Gift Spend Market Share Analysis by Product Category
3.5 Retail Consumer Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
3.6 Retail Consumer Total Gift Spend Market Share Analysis by Retail Sector
4 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
4.4 Corporate Consumer Gift Spend Market Share Analysis by Product Category
4.5 Corporate Consumer Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
4.6 Corporate Consumer Total Gift Spend Market Share Analysis by Retail Sector
5 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
5.5 Gift Card Spend Market Share Analysis by Functional Attribute
5.6 Digital Gift Card Spend Market Size and Forecast, 2019-2028
6 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
6.8 Large Enterprise Segment Digital Gift Card Spend Analysis
6.9 Mid-Tier Segment Digital Gift Card Spend Analysis
6.1 Small Scale Segment Digital Gift Card Spend Analysis
7 Gift Card Spend Share by Demographics and Purchase Behaviour
7.1 Gift Card Spend Share by Age, Income, and Gender
7.2 Digital Gift Card Spend Share by Age, Income, and Gender
7.3 Gift Card Consumer Purchase Behaviour
7.4 Corporate Consumer Gift Card Spend by Company Type
8 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
8.4 Retail Consumer Digital Gift Card Spend Market Size and Forecast, 2019-2028
9 Retail Consumer Gift Card Spend Analysis by Functional Attribute
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
10 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 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
11.4 Corporate Consumer Digital Gift Card Spend Market Size and Forecast, 2019-2028
12 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
13 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 Corporate Consumer Gift Card Spend Analysis by Company Size
14.1 Corporate Consumer Gift Card Spend Market Share Analysis by Company Size
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 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
15.2 Mid-Tier Segment Gift Card Spend Market Share Analysis by Functional Attribute
15.3 Small Scale Segment Gift Card Spend Market Share Analysis by Functional Attribute
16 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 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
17.3 Sales Uplift by Retail Sector, 2022
18 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
19 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
20 Gift Card Sales Estimates by Key Retailers

Companies Mentioned

  • 7-Eleven
  • 99 Speedmart
  • Aeon
  • Aeon Big
  • Aldi
  • Alfa Midi
  • Alfamart
  • Alibaba (China inc. all brands)
  • Amazon
  • Amazon (Cloudtail + Appario)
  • Apple
  • Belle (All brands)
  • Big basket
  • Big C Extra
  • Big C Supercenter
  • Big W
  • BigBazaar
  • Bunnings
  • Carrefour
  • Central
  • CJ Mall
  • Coles
  • Countdown Supermarkets
  • Courts
  • Croma
  • CU
  • Daiei
  • D-Mart
  • emart
  • Erafone
  • FairPrice
  • FairPrice Finest
  • FairPrice Shop
  • FairPrice Xtra
  • Farmers Trading Company Ltd
  • Four Square
  • Giant
  • Global house
  • Gourmet Market
  • Guardian
  • Harvey Norman
  • Hero
  • Himart
  • Homeplus Hypermarket
  • HomePro
  • Hypermart
  • IGA
  • Ikea
  • Indomaret
  • Japan Consumers Cooperative Union
  • Japan Consumers Cooperative Union - Hypermarket
  • JB Hi-Fi
  • JD.Com
  • Kmart
  • Lawson - Other (Franchises)
  • Life
  • Lotte Department Store
  • Lotte Mart
  • Matahari Department Store
  • Maxvalu
  • Mercury Drug
  • Mitre 10
  • Mr. D.I.Y.
  • New City Commercial Corporation Mall
  • New World
  • NewCore Outlet
  • Olive Young
  • PAK`nSAVE
  • Puregold Price Club
  • qoo10
  • Reliance Digital
  • Reliance Digital Express Mini/Jio
  • Reliance Fresh
  • Robinsons Supermarket
  • RT Mart
  • Rustan’s Supermarket
  • Samsung
  • Savemore
  • Seiyu (Hypermarket)
  • Sheng Siong
  • Siam Makro
  • SM Hypermarket
  • SM Supermarket
  • Super Indo
  • Tanishq
  • Target
  • Tesco
  • Tesco Hypermarket
  • The SM Store
  • The Warehouse
  • Tops market
  • Transmart Carrefour
  • Unimart
  • Vip.com
  • Watsons
  • Woolworths Supermarkets
  • Wumart Superstore
  • Yodobashi
  • Yonghui Superstores Group

Table Information