Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The "Turkey Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Turkey's gift card industry is expected to grow by 13.9% on annual basis to reach US$1752.5 million in 2022. Despite near-term challenges in 2022, medium to long term growth story of gift cards in Turkey remains strong.
The gift card industry in Turkey 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 11.5% during 2022-2026. The gift card market in the country will increase from US$1539.2 million in 2021 to reach US$2708.9 million by 2026.
Robust growth in the e-commerce market is expected to boost gift card adoption among consumers in Turkey
The e-commerce industry has been on a consistent growth over the last few quarters, as more and more consumers are shifting to online shopping due to the coronavirus outbreak in the country. According to the publisher's projection, the e-commerce revenue exceeded US$20 billion in 2021 in Turkey. It is expected that the shift in consumers' shopping behavior to continue even in the post-pandemic era. Consequently, the publisher is projecting further growth in the e-commerce sector in Turkey over the next four to eight quarters.
The growing trend of online shopping is also expected to further boost the adoption of gift cards, specifically digital gift cards, in Turkey from the short to medium-term perspective. It is because retailers are using gift cards as a customer acquisition tool to boost their sales in times of the global pandemic. The publisher, therefore, expects the gift card market to record strong growth over the next four to eight quarters in Turkey.
Consumers exchanging crypto for gift cards expected to boost gift card market growth in Turkey
One of the reasons why gift cards have grown into popularity over the last four to eight quarters is their innovative use cases. For instance, gift cards can be used to buy cryptocurrencies as well as convert cryptocurrencies into gift cards to make purchases. Similar use cases in Turkey have been boosting the gift card market growth over the last four to six quarters.
Consumers are looking for easier ways to invest in Bitcoin and other altcoins and similarly want simpler ways to spend their holdings. Notably, platforms such as Paxful are allowing consumers to buy crypto using gift cards. On the other hand, Bitrefill, the global payments platform, allows consumers to exchange Bitcoin for branded gift cards, which can then be used to complete purchases. Some of the brands for which consumers can buy gift cards through Bitrefill include Carrefour, Amazon, Google Play, Boyner, IKEA, and Turk Telecom, among several others.
Consequently, as the popularity of cryptocurrencies continues to grow in Turkey, the publisher expects it to support the overall growth of the gift card market over the next four to eight quarters.
Scope
Companies
- BIM Birlesik Magazacilik AS
- Migros Tic AS
- LC Waikiki Magazacilik Hizemetleri Tic AS
- Koc Holding AS
- Teknosa Ic ve Dis Ticaret AS
- Carrefour SA
- A101 Yeni Magazacilik AS
- Yildiz Holding AS
Total Spend on Gifts in Turkey
- 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 in Turkey
- 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 in Turkey
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Turkey
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer in Turkey
- 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 in Turkey
- 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 in Turkey
- 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) in Turkey
- 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) in Turkey
- 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) in Turkey
- 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/ukyf6e
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