DUBLIN--(BUSINESS WIRE)--The "United Kingdom 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.
Gift card market in the UK has witnessed steady growth in recent years. However, over the next 4 quarters, growth is expected to remain subdued due to COVID-19 outbreak's socio-economic impact. Adoption of digital gift card has already witnessed strong growth in Q2 2020.
Interestingly, percentage of consumers who now prefer gift card (vs those buying because of convenience) has gone up as well. According to the Global Gift Card Q2 2020 Survey, open loop gift card segment is further expected to gain market share in 2020 and over the forecast period. Self-use segment is also expected to gain share, driving adoption of digital gift card (e-gift card).
In value terms, the gift card market in the United Kingdom has recorded a CAGR of 12.8% during 2015-2019. The gift card industry in the United Kingdom will continue to grow over the forecast period and is expected to record a CAGR of 10% during 2020-2024. Gift card market in the country will increase from US$ 8,034.2 million in 2019 to reach US$ 11,285.8 million by 2024.
Companies are capitalizing on the gift card popularity by bringing in innovative options. For instance, Mastercard introduced Europe's first fully digital gift card in December 2019 , in association with Appreciate Group and CleverCards. This mobile-enabled and fully digital card helps reduce the postage fees, distribution, and production costs by enabling the consumers to send their e-gift cards instantly using email or text apps.
Corporate spending is another factor that is contributing to the growth of the gift card market. As companies are making use of physical and digital gift cards to offer rewards and incentives to their employees, business-to-business gift card sales have increased. The businesses also benefit from using the e-gift card options as they get bulk percentage discounts and eliminate the need of asking bank account details.
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 United Kingdom. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics. The report includes raw data along with structured dashboards, charts, and tables in an interactive Excel format.
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 United Kingdom.
- 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).
Companies Mentioned
- Tesco Plc
- Associated British Foods Plc
- Next Plc
- J Sainsbury Plc
- Wal-Mart Stores Inc
- TJX Cos Inc, The
- Wm Morrison Supermakets Plc
- Amazon.com Inc
- Matalan Ltd
- New Look Group Plc
- Arcadia Group Ltd
- John Lewis Partnership Plc
- Marks & Spencer Plc
- H&M Hennes & Mauritz AB
- Co-operative Group Ltd, The
- Walgreens Boots Alliance Inc
- Home Retail Group
- C&J Clark International Ltd
- Edinburgh Woollen Mill
For more information about this report visit https://www.researchandmarkets.com/r/lwpujl
