Vietnam Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics Report 2021-2025 apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
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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.
Increasingly, gift cards are being integrated into smartphone devices to enable mobile payment. Open loop gift cards and gift cards from leading online retailers are outperforming rest of the market, a trend expected to continue over the forecast period.
Dublin, Feb. 26, 2021 (GLOBE NEWSWIRE) The "Russia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook): Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering. The gift card market in 2020 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 2021.The gift card industry in Russia has done well to withstand the impact of economic slowdown along with negative business and consumer
Press release content from Business Wire. The AP news staff was not involved in its creation.
Saudi Arabia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics Report 2021-2025 - ResearchAndMarkets.com
February 25, 2021 GMT
DUBLIN (BUSINESS WIRE) Feb 25, 2021
The gift card market in Saudi Arabia has witnessed change in consumer behavior due to the pandemic.
There has been shift from physical gift cards to e-gift cards as consumers prefer safe and convenient gifting options for family and friends especially during festive season. Though adoption of e-gift cards has been increasing prior to the pandemic, the penetration has further increased as consumers confine themselves to their homes due to fear of spread of coronavirus.
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The UAE gift card market has grown rapidly over the recent years as customers increasingly prefer gift cards over conventional gifts.
Also, the growth of e-commerce has opened new horizons for the digital gift card market. The e-commerce market is further expected to grow as consumers continue to shop online and as merchants recognize the need for online presence. Moreover, due to the pandemic, there has been a shift to online shopping. This trend is expected to continue in the long term as consumers prefer more flexible payment options available during online shopping. Retailers are capitalizing on this trend and offering digital gift cards to attract customers and drive revenues.