DUBLIN--(BUSINESS WIRE)--The "Latin America Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The gift card industry in the region is expected to grow by 10.9% on annual basis to reach US$14.3 billion in 2024. The gift card industry in Latin America will continue to grow over the forecast period and is expected to record a CAGR of 9.1% during 2024-2028. Gift card market in the country will increase from US$12.9 billion in 2023 to reach US$20.2 billion by 2028.
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 each country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.
The Latin American gift card sector is experiencing dynamic growth and increased competition through strategic partnerships, international expansions, and technological advancements. Givex Brasil's expansion and Swile's entry into Mexico highlight significant market developments, while regulatory changes like CoDi enhance transaction efficiency. InComm Payments' investments underscore the region's potential for innovation and growth in this sector.
Key Developments in the Gift Card Sector in Latin America
Product Launches and Innovations
Givex Brasil's New Partnerships: Givex Brasil has reported significant growth due to new product launches and strategic partnerships. In 2023, the company collaborated with the jewelry brand Vivara to launch an e-gift solution and partnered with WeWork Brasil to develop a gift card program. Additionally, Givex expanded its network by adding over 500 locations through a partnership with a major hospitality chain and surpassed BRL 1.5 billion in gift card sales through its platform, GivexHub.
Expansion of International Players: The Mexican market has attracted international gift card companies looking to expand their services. Notably, Swile, a French firm specializing in employee benefits and gift cards, raised US$200 million in funding and is planning to enter the Mexican market. This reflects a broader trend of international investment in Mexico's gift card sector, which is expected to enhance competition and innovation.
Strategic Partnerships
Givex Brasil Partnerships: Givex Brasil has reported significant growth due to new product launches and strategic partnerships. In 2023, the company collaborated with the jewelry brand Vivara to launch an e-gift solution and partnered with WeWork Brasil to develop a gift card program. Additionally, Givex expanded its network by adding over 500 locations through a partnership with a major hospitality chain.
Mergers and Acquisitions
InComm Payments' Strategic Investments: InComm Payments has been actively expanding its operations in Brazil, focusing on developing an IT hub for software development and quality assurance. This investment may involve strategic partnerships or acquisitions to bolster its position in the growing Brazilian gift card market.
Regulatory Changes
CoDi in Mexico: The introduction of CoDi (Cobro Digital) has streamlined instant payments in Mexico, making them more accessible for consumers and merchants. This digital payment initiative facilitates the use of gift cards by enabling quicker transactions, thus supporting the growth of the gift card market in the region.
Reasons to buy
- Comprehensive understanding of the dynamics of the gift card and incentive card markets: Recognise the opportunities in the market, the main drivers and trends, and the five-year projection for gift and incentive cards in Latin America.
- Create strategies tailored to the market: To create your gift card strategy, identify growth categories and target particular opportunities across consumer segments and occasions; evaluate important trends and risks unique to your market.
- Learn about the attitudes and behaviours of consumers in Latin America: Increase ROI by understanding how consumer attitudes and behaviours are evolving. With gift cards, you may obtain comprehensive information about retail spending for both corporate and retail customers.
- Six key performance indicators (KPIs) provide a comprehensive view: the quantity of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
- Distribution channel insights: Recognise the differences in gift card sales across online and offline channels as well as between first-party and third-party sales.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 1608 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $14.3 Billion |
| Forecasted Market Value (USD) by 2028 | $20.2 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Latin America |
This title is a bundled offering, comprising 1 regional and 6 country reports:
- Latin America Gift Card and Incentive Card Market Intelligence (Databook)
- Argentina Gift Card and Incentive Card Market Intelligence (Databook)
- Brazil Gift Card and Incentive Card Market Intelligence (Databook)
- Chile Gift Card and Incentive Card Market Intelligence (Databook)
- Colombia Gift Card and Incentive Card Market Intelligence (Databook)
- Mexico Gift Card and Incentive Card Market Intelligence (Databook)
Scope
Closed Loop Gift Card Market Share by Key Retailers
- Cencosud SA
- Carrefour SA
- Coto CICSA
- MercadoLibre Inc
- Importadora y Exportadora de la Patagonia SA
- Wal-Mart Stores Inc
- Garbarino SA
- Casino Guichard-Perrachon SA
- Natura Cosmeticos SA
- Lojas Americanas SA
- Adeo Groupe
- Magazine Luiza SA
- Falabella SACI
- SMU SA
- Feria Chilena del Libro SA
- PriceSmart Inc
- Inditex, Industria de Diseno Textil SA
- Confecciones Leonisa SA
- Organizacion Soriana SAB de CV
- Grupo Comercial Chedraui Sa de CV
- Controladora Comercial Mexicana SAB de CV
- Farmacias Similares SA de CV
- Corporativo Fragua Sa de CV
- Home Depot Inc, The
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
For more information about this report visit https://www.researchandmarkets.com/r/fmb26j
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