HomeSouth Africa Gift Cards and Incentives Market Report 2021-2025 Includes Shoprite, Pick ‘n’ Pay Stores, Internationale Spar Centrale, BV Wal-Mart Stores and Woolworths

South Africa Gift Cards and Incentives Market Report 2021-2025 Includes Shoprite, Pick ‘n’ Pay Stores, Internationale Spar Centrale, BV Wal-Mart Stores and Woolworths

DublinAnd November 5, 2021 /PRNewswire/ – file “South Africa Gift Cards and Incentives Market Information and Future Growth Dynamics (Data Book) – Market Size and Forecast (2016-2025) – Second Quarter 2021 Update” Report added to ResearchAndMarkets.com an offer.

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According to the Global Gift Cards Survey Q2 2021, the gift card industry in South Africa It is expected to grow by 16.3% year-on-year to reach 923.2 million USD in 2021.

Despite the near-term challenges in 2021, the medium to long-term gift card growth story in South Africa Still going strong. Gift card industry South Africa It is expected to grow steadily in the first half of 2021 and register strong growth in the second half of 2021.

The growth momentum is expected to continue growing during the forecast period, registering a compound annual growth rate of 13.9% over the period 2021-2025. The gift card market in the country will increase from 794.1 million US dollars In 2020 to reach 1552.4 million US dollars by 2025.

Historically, the gift card market in South Africa Record steady growth with increasing dependence in the self-employment sector. According to the publisher, the growth of the gift card market in South Africa The retail and corporate sector is expected to be affected by the disruption caused by the COVID-19 outbreak. However, some segments such as self-employment will gain significant market share.

The economic slowdown caused by the pandemic is forcing companies to come online and push e-commerce offerings that can improve e-commerce growth in the country. Switching from bricks and mortar to e-commerce in South Africa It was slow, even though half the population had access to the internet. However, due to the outbreak of COVID-19, delivery retailers and startups have started selling online and have seen an increase in demand as consumers have moved away from in-store shopping due to the fear of the spread of the coronavirus.

Also, online retailers focus on enhancing their customer acquisition strategy by offering e-gift cards. Hence, the adoption of e-gift cards is expected to increase significantly over the next four to six months.

The increasing trend of using gift cards has attracted foreign companies to explore the market in them South Africa. For example, in March 2020InComm, a payments technology company, launched its gift cards in partnership with Flash and Pepkor Group. Gift cards include games, ride-sharing, content and gift cards streamed through the Flash and Pepkor retail network making these cards available in every region of South Africa.

in a South AfricaLow youth employment and a weak labor market are fueling the growth of the self-employment market. In 2020, freelancers are expected to represent 40-50% of the full-time workforce. Employers benefit from the temporary jobs model because it helps with hiring speed, flexibility and cost. There is a growing trend of professional workers getting paid with gift cards as they are easy to cash in and use. With the increase in freelancers and freelancers in South AfricaThe gift card market will be positively affected.

Apart from this, corporate spending also boosts gift card market in South Africa. Organizations are increasingly making use of gift cards to reward their employees on popular holidays in the country such as Christmas and New Year.

This report provides a detailed analysis of the central data of the corporate gift cards and incentive cards market along with consumer behavior and retail spending dynamics in South Africa. With over 200 key performance indicators at the country level, this report provides a comprehensive understanding of the dynamics of the Gift Cards and Incentives market.

Domain

Market share of gift cards closed by major retailers. Major retailers covered include:

Total spend on gifts in South Africa

  • By Consumer Sector (Retail and Corporate)
  • By product categories (13 segments)
  • By retail segments (7 segments)

Gift Cards Market Size by KPI Across Consumer Segments in South Africa

Gift card market size by consumer segment in South Africa

Digital Gift Cards Market Size in South Africa

Gift Cards Market Size by Retail Consumer in South Africa

Gift card spending by consumer behavior and demographics in South Africa

  • 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 in South Africa

Gift spending by product categories (broken down by individual consumers and businesses) in South Africa

  • Food and drink
  • Health, wellness and beauty
  • Clothes, shoes and accessories
  • Books and media products
  • electronics consumers
  • Restaurants and bars
  • Toys, children and babies
  • jewelry
  • sporting goods
  • Home & Kitchen Accessories & Appliances
  • travel
  • Entertainment and games
  • else

Gift card spending by retail segment (broken down by individual consumers and businesses) in South Africa

  • E-commerce and stores
  • Restaurants and bars
  • Supermarket, hypermarket, convenience store
  • Entertainment and games
  • Specialty Stores
  • Health and wellness
  • travel

Gift card spending by distribution channel (broken down by individual consumers and businesses) in South Africa

  • Online gift card sales
  • Offline gift card sales
  • First Party Sales
  • Third Party Sales
  • sales boost

For more information about this report visit https://www.researchandmarkets.com/r/2l3zlj

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