Market Assessment of UK Gift Cards and Incentive Cards 2015-2024 – Update on COVID-19 Q2 2020 – | Instant News

DUBLIN – ()–That “British Gift Card and Market Intelligence and Future Growth Dynamics (Databook) – Market Size and Forecast (2015-2024) – Update on COVID-19 Q2 2020” a report was added to offerings.

The gift card market in the UK has witnessed steady growth in recent years. However, over the next 4 quarters, growth is expected to remain weak due to the socio-economic impact of the COVID-19 outbreak. The adoption of digital gift cards has witnessed strong growth in Q2 2020.

Interestingly, the percentage of consumers who now prefer gift cards (vs those who buy because of convenience) has gone up too. According to the Q2 2020 Global Gift Card Survey, further open-loop gift card segments are expected to gain market share in 2020 and during the forecast period. The self-help segment is also expected to get a share, encouraging the adoption of digital gift cards (e-gift cards).

In terms of value, the gift card market in the UK has recorded a CAGR of 12.8% for 2015-2019. The gift card industry in the UK will continue to grow during the forecast period and is expected to record a CAGR of 10% over 2020-2024. The gift card market in the country will increase from US $ 8,034.2 million in 2019 to reach US $ 11,285.8 million in 2024.

Companies take advantage of the popularity of gift cards by bringing innovative options. For example, Mastercard introduced the first fully digital gift card in Europe in December 2019, in collaboration with Appreciate Group and CleverCards. This active and fully cellular digital card helps reduce shipping, distribution and manufacturing costs by allowing consumers to send their e-gift cards instantly using an email or text application.

Corporate spending is another factor that contributes to the growth of the gift card market. As companies use physical and digital gift cards to offer gifts and incentives to their employees, sales of business-to-business gift cards have increased. Businesses also benefit from using the e-gift card option because they get a bulk percentage discount and eliminate the need to ask for bank account details.

This report provides a detailed analysis of centric data from gift cards and the company’s incentive card market along with consumer behavior and retail shopping dynamics in the UK. With more than 200 KPIs at the country level, this report provides a comprehensive understanding of the dynamics of the gift card market and incentives. This report includes raw data along with structured dashboards, charts and tables in interactive Excel format.

Below is a summary of country-level trend analysis covering all segments of gift cards:

  • Prize market total: This report provides a detailed view of overall spending on prizes, grouped by the retail and consumer segments. For the retail and consumer segments, this report provides a breakdown of spending on prizes by product category (13 segments) and the retail sector (7 segments).

  • Gift cards: Drawing from exclusive survey results, this report provides an in-depth analysis of opportunities in the open and closed loop prepaid gift card category. Assessing consumer behavior by type of consumer (retail and company – SMB, Medium, Large Enterprise), gift giving events, digital gift cards (electronic gift cards), and market share by retail sector.

  • Detail of six important KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.

  • Corporate incentive & loyalty cards: This report provides detailed market dynamics of corporate incentive cards, which are broadly segmented in three categories – consumer incentive cards, employee incentive cards, and sales / partner incentive cards. It details market size and estimates at the category level, based on functional attributes (open loop and closed loop), and by corporate consumer segments (small scale businesses, medium businesses, and corporate businesses).

  • Digital gift card analysis (electronic gift cards): Provides market size and estimates for digital gift cards, detailed by retail buyers and companies. This also includes shopping for occasional gift cards (retail – festivals & special celebrations, milestone celebrations, self-use, etc.; company incentive cards – customer incentive cards, employee incentive cards, and sales / partner incentive cards). This report also includes the adoption of digital gift cards based on company size.

  • Open Loop and Closed Loop: Provides market forecasts and estimates to assess opportunities in the open loop and gift card segments and closed loop incentives across all customer segments.

  • Consumer attitudes and behavior: Drawing from the results of an exclusive survey, this report identifies and interprets major KPIs related to the dynamics of gift cards including expenses based on age, gender, and income level.

  • Retail shopping: Break down retail spending across retail sectors (7 segments) to provide detailed insights on consumer behavior and the changing dynamics of gift card spending.

  • Market share by retailers: Provides closed-loop gift card market share by major retailers in the UK.

  • Distribution channel analysis: Provides market share based on distribution channels – online vs. offline sales and first-party vs. third-party sales (sales through other retail outlets).

Company Mentioned

  • Tesco Plc

  • British Food Related to Plc

  • Next Plc

  • J Sainsbury Plc

  • Wal-Mart Stores Inc

  • TJX Cos Inc., The

  • Wm Morrison Supermakets Plc

  • Inc.

  • Matalan Ltd

  • New Display Group Plc

  • Arcadia Group Ltd.

  • John Lewis Partnership Plc

  • Marks & Spencer Plc

  • H&M Hennes & Mauritz AB

  • Cooperative Group Ltd, The

  • Walgreens Boots Alliance Inc.

  • Home Retail Group

  • C&J Clark International Ltd.

  • Edinburgh Woolen Mill

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