DUBLIN--(BUSINESS WIRE)--The "Russia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2015-2024) - Covid-19 Update Q2 2020" report has been added to ResearchAndMarkets.com's offering.
This report details the impact of economic slowdown along with change in business and consumer sentiment due to disruption caused by the Covid-19 outbreak on the gift card industry in Russia.
Historically, the gift card market in Russia has recorded a steady growth with a CAGR of 16.4% during 2015-2019. However, the gift card market in Russia is expected to be impacted across retail and corporate segments due to disruption caused by Covid-19 outbreak.
Though growth of the gift card industry will be impacted due to the pandemic, there are certain segments such as self-use which will gain significant market share. Adoption of e-Gift cards is also expected to increase significantly over the next 4-6 quarters. There are interesting trends emerging across various segments, which are expected to fundamentally reshape the gift card industry dynamics.
Despite near-term challenges, the medium to long term growth story of gift cards in Russia remains strong. The gift card industry in Russia will continue to grow over the forecast period and is expected to record a CAGR of 11.8% during 2020-2024. The gift card market in the country will increase from US$ 5605.5 million in 2019 to reach US$ 8384.0 million by 2024.
The key factors influencing the trend of gift card adoption include, increase in gifting culture, the rise of e-commerce and crypto gift cards for the underbanked population.
The Russian e-commerce industry accounted for 4.5% of the retail revenue in 2019, and the share of e-commerce is expected to double in the next three years. With the growth in e-commerce and high mobile (66.3%) and internet (75% ) penetration, the number of e-gift cards being used is likely to increase in the near future.
Another emerging trend that will contribute to the growth of the gift card market, is the ability to buy bitcoins and other cryptocurrencies through gift cards. With the country having a large percentage of the population unbanked, trading cryptocurrencies with gift cards is a much better and easier way. In July 2019, Bitrefill , a platform to buy gift cards using bitcoins, as part of its expansion plans introduced 100 new gift cards for consumers to trade their bitcoins into gift cards. Some of the gift cards available on Bitrefill include Yandex money, Pandora jewelry, Wallet 1, Mail.ru and Xsolla.
This report provides a detailed data centric analysis of the gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in Russia. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics. The report includes raw data along with structured dashboards, charts, and tables in an interactive Excel format.
Below is a summary of country level trend analyses covered across gift card segments:
- Provides detailed view of overall spend on gifts, broken down by retail and consumer segments.
- Provides in-depth analysis of opportunities in both open loop and closed loop prepaid gift card categories. Assesses consumer behaviour by type of consumer, gifting occasion, digital gift card and market share by retail sectors.
- Details six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
- Provides detailed market dynamics of corporate incentive cards, broadly segmented in three categories - consumer incentive card, employee incentive card, and sales/partner incentive card.
- Provides market size and forecast for digital gift cards, broken down by retail and corporate buyers. It also includes gift card spend by occasion and digital gift card adoption by company size.
- Provides market estimates and forecasts to assess opportunities in open loop and closed loop gift and incentive card segments across consumer segments.
- Identifies key KPIs related to gift card dynamics including spend by age, gender, and income level.
- Breaks down retail spend across retail sectors to provide detailed insights on consumer behaviour and changing dynamics of gift card spend.
- Provides market share of closed loop gift cards by key retailers in Russia.
- Provides market share by distribution channel - online vs offline sales and 1st party vs 3rd party sales.
Companies Mentioned
- Magnit OAO
- X5 Retail Group NV
- Auchan Group SA
- Dixy Group OAO
- Lenta OOO
- M Video OAO
- DNS Group
- Sportmaster Group
- Inditex, Industria de Diseo Textil SA
- Ulmart ZAO
- Globus Holding GmbH & Co
For more information about this report visit https://www.researchandmarkets.com/r/7c2szb
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