Dublin, March 18, 2022 (GLOBE NEWSWIRE) -- The "Europe Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Despite near-term challenges in 2022, medium to long term growth story of gift cards in Europe remains strong. The gift card industry in Europe is expected to grow steadily in H1 2022 and record a strong growth in H2 2022.
The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 8.6% during 2022-2026. The gift card market in the country will increase from US$57753.7 million in 2021 to reach US$88747.1 million by 2026.
Gift card market in 2021 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. Though the gift card market was impacted due to COVID-19, the market is expected to bounce back in the coming quarters, especially in H1 2022.
Gift card industry in Europe has done well to withstand the impact of economic slowdown along with negative business and consumer sentiment due to disruption caused by Covid-19 outbreak.
Historically, the gift card market in Europe has recorded a steady growth with a CAGR of 8.6% during 2016-2020. According to the Q4 2021 Global Gift Card Survey, gift card industry in the country is expected to grow by 0.0% on annual basis to reach US$63755.6 million in 2022.
Despite the fact that the region went through many socio-economic challenges due to the coronavirus pandemic, the gift card market recorded stable growth in the last four to eight quarters. When key players were engaged in mergers and acquisitions to increase their market share, fintech startups were busy raising funds to offer niche products in the European gift cards market in the last 24 months.
Gift card retailers allow consumers to purchase gift cards using cryptocurrencies in the United Kingdom
In the midst of the growing adoption of cryptocurrencies among consumers in the country, gift card retailers are also innovating with their services by offering consumers a variety of different payment options, including cryptocurrencies.
- In November 2021, UK-based online gift card retailer, Giftchill, announced that the firm had added new payment options for consumers to purchase gift cards with cryptocurrencies. Notably, the firm is accepting Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin, and USD Coin, among others, as a payment method for gift card purchases in the United Kingdom.
- According to Giftchill, once the gift card purchase is completed through the use of a crypto payment method, consumers receive the gift card code instantly to their email address.
As more and more consumers invest in cryptocurrencies, the publisher expects the adoption of gift cards to rise subsequently in the United Kingdom, as it is one of the most efficient and affordable ways to spend cryptocurrencies.
Mergers and acquisition activities are growing in the French gift card industry
With the gift card industry in France expected to record robust growth over the next four to eight quarters, mergers and acquisition activities are also gaining rapid momentum.
- In September 2021, Sodexo, the Paris-based global foodservice provider, announced that the firm had acquired a majority stake in French gift card startup, Wedoogift. Notably, this acquisition is made through its subsidiary Sodexo Benefits & Rewards Services in France.
- Wedoogift offers corporate gift card solutions in France. The company has partnered with more than 7,000 corporate clients including SMEs, and marketing agencies.
- Therefore, with this acquisition, the publisher expects Sodexo to gain further market share in the corporate gift card segment over the short to medium term.
The publisher further expects more mergers and acquisition activities in the gift card sector over the next four to eight quarters in France. This will further intensify competition and innovation in the French gift card industry.
Leading German retailers are launching gift card programs overseas
Across Europe, the popularity of gift cards has increased over the last four to eight quarters. With consumers demanding innovative gift card solutions, Germany-based retailers are launching their gift cards for shoppers in other European countries.
- In October 2021, Aldi, the discount supermarket based in Germany, announced the launch of its first-ever gift cards in the United Kingdom, which can be spent on anything inside the supermarket.
- Notably, the launch of the gift cards comes in time for Christmas and will be available for shoppers in all of its 920 stores across the United Kingdom. The launch of the gift card is also strategic from the supply chain crisis point of view, which has led to widespread concern over food shortages.
- Shoppers can buy and give gift cards which range up to £500, to their friends and families in the United Kingdom.
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 Occasion1. 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 Occasion1. 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
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
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