dublin, March 13, 2023 /PRNewswire/—— “United Arab Emirates Gift Cards and Rewards Cards Market Intelligence and Future Growth Dynamics (Databook) – Q1 2023 Update” report added to ResearchAndMarkets.com’s supply.
The gift card market in 2022 is driven by several factors that support the growth of the retail and corporate segments. Key factors include growth in e-commerce, increasing adoption to motivate employees working remotely, digital gifts, and government, hospitality and tourism initiatives to revive growth.
- Innovative and growing fintech market united arab emirates (UAE) is driving the growth of the gift card industry and the adoption of this payment method among consumers in the region. This trend is expected to further accelerate in the short to medium term as domestic and global players continue to invest in the space, driving the competitive landscape in the UAE gift card industry.
- Retailers are also using gift cards to drive in-store purchases amid a surge in online shopping trends in the country. Also, to make their gift card purchases more affordable, vendors are forming strategic alliances with buy now, pay later vendors in the UAE country. Overall, the publisher maintains strong growth prospects for the UAE gift card industry over the next three to four years.
Digital gift card provider is forming strategic alliance with ‘buy now, pay later’ provider in UAE
- The buy now pay later (BNPL) scheme has become very popular among UAE consumers. Shoppers use payment methods for all purchases in different categories. With growing popularity, vendors are working with BNPL players to further accelerate their development.
- exist October 2022, YOUGotaGift, one of the leading digital gift card marketplaces, announced that it has entered into a strategic partnership with Tabby, a leading BNPL company in the region. The partnership allows shoppers in the UAE to purchase gift cards from the digital gift card marketplace using the BNPL payment method, spreading the cost of their purchases over several months.
- The strategic partnership will make gift cards even more popular with UAE shoppers, who are also grappling with rising living costs and inflationary pressures. In the short to medium term, this will continue to drive the growth of the industry in the region.
- Domestic fintechs are planning to expand their presence in the Indian market by launching gift card services
- fintech companies in India Strong growth has been recorded over the past three to four years due to the country’s growing digitization.To capitalize on India’s growth story, UAE-based fintechs are planning to establish presence in India India With the launch of the gift card service.
- exist September 2022UAE-based ICC Fintech has announced that it is starting operations India The initial investment is $30 million. As part of its presence in the country, the company has also launched a gift card service. However, unlike other fintech companies, ICC Fintech only targets NRIs. Over the next three years, the company plans to target 18 million consumers with its gift card service. In addition to gift cards, the company also plans to offer services in the healthcare and property management sectors.
- As global consumer preference for gift cards continues to grow, the publisher expects more domestic companies to expand their operations and establish a presence in the global market over the next three to four years.
- Companies are launching gift card promotions to drive in-store transactions in the UAE
- During the epidemic, online shopping gained momentum and became the mainstream shopping channel in the region. So, to drive shoppers back in-store, companies are leveraging the UAE gift card feature. For example,
- exist November 2022Dubai Festival City Mall (part of Al-Futtaim Malls) has announced a gift card promotion to boost in-store transactions in the country.Under the program, the company announced gift cards worth AED 30,000, which will be available from November 25-27.
- The publisher expects more companies, including supermarkets and shopping malls, to launch such gift card promotions in the UAE in the next three to four years. In the short to medium term, this will continue to support industry growth.
In terms of value, the gift card market is at united arab emirates 2018-2022 CAGR of 10.4%.According to the publisher, the gift card industry in the country is expected to grow at an annual rate of 11.5% to reach $1,793.3 million 2023.
gift card industry united arab emirates It will continue to grow during the forecast period and is expected to grow at a CAGR of 9.8% during 2023-2027.The domestic gift card market will start from $1,608.9 million reached in 2022 $2.6095 billion by 2027.
This report provides a detailed data-centric analysis of the gift cards market, covering market opportunities and risks across a range of retail categories. With more than 75 KPIs at country level, the report provides a comprehensive understanding of Gift Cards market dynamics, market size, and forecast.
total gift spend united arab emirates
- Segment by Consumer (Retail and Enterprise)
- By Product Category (13 Segments)
- By Retail Industry (7 Segments)
Gift Cards Market Size by KPI united arab emirates
- total load value
- unused value
- Average value per transaction
- Trading volume
- Average value of card purchased
- number of cards
Gift Cards Market Size by Consumer united arab emirates
- retail consumer
- Enterprise Consumers (Small, Medium, Large Enterprises)
Digital gift card market size united arab emirates
- by retail consumer
- By Retail Purchase Occasion
- by business consumer
- Purchasing occasions by enterprise
- By company size
Gift Cards Market Size by Retail Consumer united arab emirates
- By function attribute
- by occasion
- Holidays and Special Celebrations
- milestone celebration
- personal use
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics united arab emirates
- consumer buying behavior
- Gift Card Buyers by Age Group
- Gift Card Buyers by Income Level
- Gift Card Buyers by Gender
Gift Cards Market Size by Business Consumer united arab emirates
- By function attribute
- by occasion
- Employee incentive
- sales incentives
- consumer incentives
- By business size
Gift Spending by Product Category (by Retail and Corporate Consumer) united arab emirates
- food and drink
- Health, Wellness & Beauty
- Apparel, Footwear & Accessories
- Books and Media Products
- Consumer electronics products
- restaurants and bars
- Toys, Children and Babies
- sporting goods
- Home & Kitchen Accessories & Appliances
- Entertainment and Games
Gift Card Spending by Retail Sector (by Retail and Business Consumer) united arab emirates
- E-Commerce and Department Stores
- restaurants and bars
- Supermarkets, hypermarkets, convenience stores
- Entertainment and Games
- specialty store
- health and wellness
Gift card spending by distribution channel (by retail and corporate consumer) united arab emirates
- gift cards for sale online
- Gift card offline sales
- first party sales
- 3rd party sales
- sales boost
reason to buy
- In-Depth Understanding of Gift Cards and Rewards Cards Market Dynamics: Understanding Gift Cards and Rewards Cards Market Opportunities, Key Trends and Drivers, and Five-Year Forecast (2018-2027) united arab emirates.
- Develop market-specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to develop your gift card strategy; Assess market-specific key trends and risks.
- Gain insight into consumer attitudes and behavior united arab emirates: Understand changing consumer attitudes and behaviors and improve ROI. Get detailed insights into retail spend with gift cards for retail and business consumers.
- Gain a complete perspective with six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
- Distribution Channel Insights: Understand gift card sales dynamics by channel – online vs offline and first vs third party sales.
- Consumer Cooperative Union (CCU)
- Landmark Group
- Enke Group
- damas international ltd.
- T Coithram & Sons
- Honor DG LLC
- Inter IKEA Systems BV
For more information on this report, please visit https://www.researchandmarkets.com/r/whcvgt
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