2021 China Gift Card and Incentive Card Market Analysis, Featuring Alibaba Group Holding Ltd, Auchan Group SA, Bailian Group Co Ltd, Apple Inc and More
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The Chinese gift card market outperformed global peers, recording the strongest growth in 2020. The Chinese economy bounced back sharply with 4.9% growth between July and September 2020, outperforming global markets. Consequently, both retail and corporate consumer sentiment has turned positive, and in turn expected to drive growth of gift card in 2021.
Being the global leader in the e-commerce segment, the increasing number of internet users is driving the strong growth in China. With more than 900 million internet users, adoption of digital gift cards (e-gift cards) in China is faster than other comparable markets.