Europe Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update: Use as a Countermeasure to Rampant Inflation Bolsters Sector

Rhea-AI Summary

The Europe Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update reveals key trends in the gift card sector as it grapples with inflation and economic challenges. In 2022, growth was fueled by e-commerce, remote employee incentives, and digital gifting. The market, valued at €59.51 billion in 2022, is expected to reach €64.29 billion in 2023, with a projected CAGR of 7.0% through 2027. Digital gift card adoption, particularly in the UK, is rising as consumers seek affordable gifting options. Strategic collaborations among firms aim to innovate gift card offerings, tapping into both retail and corporate segments.

Positive

• Gift card market projected to grow from €59.51 billion in 2022 to €64.29 billion in 2023.
• CAGR of the European gift card market expected at 7.0% from 2023 to 2027.
• Increased digital gift card adoption observed, especially in the UK market.

Negative

• Subdued growth in the gift card industry attributed to rising inflation and economic slowdown.

DUBLIN, March 9, 2023 /PRNewswire/ -- The "Europe Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update" report has been added to  ResearchAndMarkets.com's offering.

Gift card market in 2022 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.

Across Europe, the gift card industry is showing subdued growth, amid rising inflation and economic slowdown. This trend of gift card adoption is projected to further continue in 2023. In the United Kingdom, consumers are buying digital gift cards to keep their gift-giving process more affordable.

Organizations are also expected to adopt gift cards as they seek ways to support their employees and customers in times of surging inflation. To cater to the growing B2B market, firms are expected to enter into strategic collaborations to launch innovative gift card programs. The rising uptake of the digital payment tool in the region has also resulted in the launch of new marketplaces, which is driving the competitive landscape of the gift card industry in Europe.

European fintech firms are launching digital gift card marketplaces amid the rising adoption globally

Ever since the pandemic outbreak, the demand for gift cards has increased globally. To cater to this growing demand for digital gift cards in the global market, Europe-based fintech firms are launching a digital gift card marketplace. For instance,

In October 2022, Recharge.com, a leading European branded payments firm, announced the launch of its global marketplace for branded gift cards. The platform which houses 75 brands is available in 180 countries. Some of the leading brands that are available on the platform include Apple, Google, and PlayStation, among others. Along with gift cards, the firm also provides consumers with prepaid cards. As of October 2022, the firm is the leading distributor of prepaid cards having an annual revenue of more than 500 million euros.

The foray into the global market will further allow the firm to accelerate its growth significantly, as the demand for prepaid cards and gift cards is projected to grow over the next three to four years.

Airline carriers are launching gift cards ahead of the Christmas holiday season

The travel and tourism industry has posted a strong rebound in H2 2022 after two years of pandemic-induced slump. Amid the pent-up travel demand, airline carriers have launched gift card programs just ahead of the holidays, with the aim to target the gift-giving season. For instance,

In November 2022, Ryanair, one of the leading carriers in the region, announced the launch of new gift cards and described the payment tool as the ultimate travel gift. With the upcoming holiday season, coupled with the pent-up travel demand, the gift card solution is expected to gain increasing traction among travelers across the European markets. The firm has launched the gift card solution in both physical as well as digital formats. Furthermore, buyers can also personalize the gift cards with a message for recipients. Starting from just €25 or £25, the gift cards are expected to generate incremental revenue for the firm from the short-term perspective.

The publisher expects more airline carriers and other travel-related businesses to launch gift card solutions to capitalize on the pent-up travel demand in Europe. This will keep assisting the overall market growth from the short to medium-term perspective in the region.

Firms are forging partnerships to bring cryptocurrency gift cards to consumers across Europe

Cryptocurrencies have surged in popularity over the last few years and investors are looking for simplified ways to buy their favored digital assets. Consequently, gift card providers are forging strategic alliances to launch crypto gift cards in Europe. For instance,

In September 2022, Tillo, the United Kingdom-based gift cards, and rewards platform announced that the firm had entered into a collaboration with BitCard, the Bitcoin gift card provider based in the United States. Under the partnership, the BitCard gift cards will be available for consumers to shop from the Tillo platform. More than 2,000 brands offer gift cards to consumers around the world on the Tillo digital gift card platform.

From the short to medium-term perspective, the publisher expects more such strategic collaborations, thereby driving the growth of cryptocurrency gifting around the world. This will keep driving the growth of the gift card industry and adoption among crypto lovers over the next three to four years.

In value terms, the gift card market in Europe has recorded a CAGR of 7.5% during 2018-2022. According to the publisher, gift card industry in the region is expected to grow by 8.0% on annual basis to reach US$ 64,288.0 million in 2023.

The gift card industry in Europe will continue to grow over the forecast period and is expected to record a CAGR of 7.0% during 2023-2027. Gift card market in the region will increase from US$ 59,510.9 million in 2022 to reach US$ 84,143.5 million by 2027.

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.

This title is a bundled offering, comprising 1 regional and 15 country reports.

• Regional Report - Europe Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 1 - Norway Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 2 - France Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 3 - Germany Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 4 - Italy Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 5 - Spain Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 6 - United Kingdom Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 7 - Netherlands Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 8 - Austria Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 9 - Belgium Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 10 - Greece Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 11 - Switzerland Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 12 - Poland Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 13 - Denmark Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 14 - Finland Gift Card and Incentive Card Market Intelligence (Databook)
• Country Report 15 - Russia 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
• Festivals & Special Celebration Days
• Milestone Celebration
• Self-Use
• 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
• Employee Incentive
• Sales Incentive
• 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

Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:

• Aldi Group
• XXXLutz Group
• Schwarz Beteiligungs GmbH
• Steinhoff International Holdings Ltd
• M-Preis Warenvertriebs GmbH (Molk)
• Amazon.com Inc
• Etn Franz Colruyt NV
• Delhaize Group Sa
• Inter Ikea Systems BV
• Blokker Nederland BV
• FDB Group
• Dansk Supermarked A/S
• Dagrofa ApS
• Reitangruppen AS
• Dixons Carphone Plc
• Jysk Holding A/S
• S Group
• Kesko Oyj
• Alko Oy
• Suomen Lahikauppa Oy
• Stockmann Oyj Abp
• Carrefour SA
• E Leclerc
• ITM Enterprises SA
• Auchan Group SA
• Systeme U Centrale Nationale Sa
• Edeka Zentral AG & Co KG
• Rewe Group
• dm-Drogerie Markt GmbH & Co KG
• Tengelmann Group, The
• Dirk Rossmann KG
• Globus Holding GmbH & Co
• H&M Hennes & Mauritz AB
• Sklavenitis J&S SA
• Marinopoulos SA
• Diamantis Masoutis SA
• Inditex, Industria de Diseno Textil SA
• Hondos Bros
• Coop Italia scarl
• CONAD - Consorzio Nazionale Dettaglianti Scrl
• Esselunga SpA
• Selex Gruppo Commerciale SpA
• Gruppo Eurospin
• Crai Secom SpA
• Apple Inc
• Royal Ahold NV
• Jumbo Supermarkten BV
• Sperwer Holding BV
• Intergamma BV
• Hema BV
• Detailresult Groep NV
• Jeronimo Martins SGPS SA
• Tesco Plc
• Eurocash SA
• Metro AG
• Euro-net Sp zoo
• Magnit OAO
• X5 Retail Group NV
• Dixy Group OAO
• Lenta OOO
• M Video OAO
• DNS Group
• El Corte Ingles SA
• Eroski Grupo
• Migros Genossenschaftsbund eG
• Coop Genossenschaft
• Maus Freres SA
• fenaco-LANDI Gruppu
• Associated British Foods Plc
• Next Plc
• J Sainsbury Plc
• Wal-Mart Stores Inc
• TJX Cos Inc, The
• Wm Morrison Supermakets Plc

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 (2018-2027) for gift cards and incentive cards in Europe.
• 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 Europe: 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.

For more information about this report visit https://www.researchandmarkets.com/r/9l8cio

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FAQ

What is the expected value of the gift card market in Europe for 2023?

The gift card market in Europe is expected to reach €64.29 billion in 2023.

What is the projected CAGR for the European gift card market through 2027?

The projected CAGR for the European gift card market is 7.0% from 2023 to 2027.

What factors are driving growth in the gift card sector in 2023?

Growth is driven by e-commerce, remote employee incentives, and rising digital gifting adoption.

How did inflation affect the European gift card market?

The gift card industry is experiencing subdued growth due to rising inflation and an economic slowdown.

What is the main trend in gift card adoption in the United Kingdom?

Consumers in the UK are increasingly purchasing digital gift cards to make gifting more affordable.