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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.
The gift card market in Singapore grew despite impact on socio-economic environment by the COVID-19 outbreak.
While the pandemic has negatively impacted growth across key industries, there has been a large-scale adoption of digital payment both by retail and business consumers. Supported by broader industry trends, and shift in consumer behavior, overall gifting and gift card industry has witnessed fundamental changes. Consequently, sale of digital gift card has witnessed sharp increase.
Singapore’s e-commerce industry is one of the fastest growing in the South East Asia and is expected to US$10 billion (S$10 billion) in 2020 as there has been an increase in online purchases due to COVID-19. Change in consumer buying behavior is expected to support e-commerce growth going forward.
Research and Markets: Italy Gift Card and Incentive Card Market Databook 2021-2025: Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions - ResearchAndMarkets.com
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The Italian economy has slid into recession due to COVID-19 crisis. As per national statistics bureau ISTAT, the economy declined by a quarterly rate of 12.8% during April-June 2020 period mainly due to crash in consumer spending and investment during lockdown. The economy is 17.7% smaller than it was in the same period in 2019.
Consequently, gift card market has recorded a subdued growth in 2020. However, the Global Gift Card Survey, Q4 2020 suggests a steady bounce back in 2021. The gift card usage and spending are expected to increase over the short to medium term.
Malaysia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics Databook 2021-2025 apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
Research and Markets: Netherlands Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics Databook 2021-2025 - ResearchAndMarkets.com
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Historically, the gift card market in Netherlands has recorded a steady growth with a CAGR of 6.9% during 2016-2020. According to the publisher s Q4 2020 Global Gift Card Survey, gift card industry in the country is expected to grow by 8.8% on annual basis to reach US$ 2157.6 million in 2021.
Despite near-term challenges in 2021, medium to long term growth story of gift cards in Netherlands remains strong. The gift card industry in Netherlands is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 6.6% during 2021-2025. The gift card market in the country will increase from US$ 1982.9 million in 2020 to reach US$ 2790.2 million by 2025.