Brazil Gift Card and Incentive Card Market Report 2021: Market will Increase from $4.41 Billion in 2020 to Reach $8.27 Billion by 2025
DUBLIN, Nov. 25, 2021 /PRNewswire/ -- The "Brazil Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2016-2025) - Q2 2021 Update" report has been added to ResearchAndMarkets.com's offering.
According to the Q2 2021 Global Gift Card Survey, gift card industry in Brazil is expected to grow by 15.1% on annual basis to reach US$ 5082.2 million in 2021.
Despite near-term challenges in 2021, medium to long term growth story of gift cards in Brazil remains strong. The gift card industry in Brazil 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 13.0% during 2021-2025. The gift card market in the country will increase from US$ 4416.7 million in 2020 to reach US$ 8276.9 million by 2025.
Brazilian 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 beginning Q2 2021.
As the e-commerce business continues to grow in Brazil, it will also benefit the growth of the gift card segment in the coming months. Brazilian e-commerce sales rose by over 63% during 2020, as consumers shifted to online shopping due to the pandemic. The e-commerce growth was also driven by shift of brick and mortar retailers and small merchants to online channel to improve their reach.
The growth in gift card market is likely to supported by mobile gift cards as contact free payments becomes an emerging trend owing to the pandemic. Consequently, e-gift cards are expected to gain momentum and are expected to witness growth in the coming quarters.
The gift card market in
This report provides a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in Brazil. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
Closed Loop Gift Card Market Share by Key Retailers
Total Spend on Gifts in Brazil
Gift Card Market Size by KPIs across Consumer Segments in Brazil
Gift Card Market Size by Consumer Segment in Brazil
Digital Gift Card Market Size in Brazil
Gift Card Market Size by Retail Consumer in Brazil
Gift Card Spend by Consumer Behavior and Demographics in Brazil
Gift Card Market Size by Corporate Consumer in Brazil
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Brazil
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Brazil
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Brazil
For more information about this report visit https://www.researchandmarkets.com/r/yt22jq
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