DUBLIN--(BUSINESS WIRE)--The "Israel 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 COVID-19 outbreak on gift card industry in Israel.
Historically, the gift card market in Israel has recorded a steady growth with a CAGR of 15.7% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Israel 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 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 gift card industry dynamics.
Despite near-term challenges, medium to long term growth story of gift cards in Israel remains strong. The gift card industry in Israel will continue to grow over the forecast period and is expected to record a CAGR of 10.7% during 2020-2024. The gift card market in the country will increase from US$ 862 million in 2019 to reach US$ 1,302.4 million by 2024.
In Israel, the gift card market has witnessed substantial growth over the last few years. The rising adoption of electronic payment methods such as mobile wallets is creating scope for the gift cards market. Moreover, the market growth can also be attributed to the increasing smartphone penetration and subsequent e-commerce gift card's rapid expansion in Israel. Furthermore, both domestic gift card issuers such as Isracard and international companies have a strong presence in the Israeli gift card market.
The Israeli e-commerce market is still relatively small, however, the growing market attractiveness with more than four million e-commerce shoppers enticed the leading e-commerce companies such as Amazon, e-bay, and Alibaba in the market. Moreover, card-based payments are gaining popularity while shopping in e-commerce sites. The trend is also allowing growth opportunities for gift cards. For instance, Amazon is one of the leading e-commerce gift card issuers in Israel. Besides these international companies' domestic online retailers such as Judaica WebStore, an online Judaica (Jewish ceremonial art) store and purveyor offers its digital gift card.
Corporate spending on gift cards is also increasing in the country. The trend has created growth opportunities for fintech companies and gift card issuers. For instance, Snappy App, Inc., is one of the leading corporate gift card issuers in Israel. In October 2018, the company raised US$10 million to boost its expansion throughout the country.
The rising consumer interest in cryptocurrencies is also driving the gift card market growth. In Israel, consumers can buy bitcoins and other altcoins through gift cards or vice-versa. This has also created scope for third party players such as paxful.com and bitrefill.com to allow consumers to trade with bitcoins for gift cards.
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 Israel. 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:
- Total gift market: This report provides detailed view of overall spend on gifts, broken down by retail and consumer segments. For both retail and consumer segments, this report provides a breakdown of spend on gifts by product categories (13 segments) and retail sectors (7 segments).
- Gift cards: Drawing from proprietary survey results, this report provides in-depth analysis of opportunities in both open loop and closed loop prepaid gift card categories. Assesses consumer behaviour by type of consumer (retail and corporate - SMB, Mid-Tier, Large Enterprise), gifting occasion, digital gift card (e-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.
- Corporate incentive & loyalty cards: This report provides detailed market dynamics of corporate incentive cards, broadly segmented in three categories - consumer incentive card, employee incentive card, and sales/partner incentive card. It details market size and forecast at category level, by functional attribute (open loop and closed loop), and by corporate consumer segments (small scale business, mid-size business, and enterprise business).
- Digital gift card (e-gift card) analysis: Provides market size and forecast for digital gift cards, broken down by retail and corporate buyers. It also includes gift card spend by occasion (retail - festivals & special celebration days, milestone celebration, self-use, other; Corporate incentive cards -consumer incentive card, employee incentive card, and sales/partner incentive card). The report also includes digital gift card adoption by company size.
- Open loop and closed loop: Provides market estimates and forecasts to assess opportunities in open loop and closed loop gift and incentive card segments across consumer segments.
- Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key KPIs related to gift card dynamics including spend by age, gender, and income level.
- Retail spend: Breaks down retail spend across retail sectors (7 segments) to provide detailed insights on consumer behaviour and changing dynamics of gift card spend.
- Market share by retailer: Provides market share of closed loop gift cards by key retailers in Israel.
- Distribution channel analysis: Provides market share by distribution channel - online vs offline sales and 1st party vs 3rd party sales (sales through outlet of other retailers).
Companies Mentioned
- Shufersal Ltd
- Super-Pharm (Israel) Ltd
- Rami Levi Shivuk Hashikma
- Yeynot Bitan Ltd
- Coca-Cola Co, The
- Hamashbir 365 Holdings Ltd
- Dor Alon Israel Ltd
- Tiv Taam Holdings
- Victory Supermarket Chain Ltd
- PAZ Oil Co Ltd
- Castro Model Ltd
- Mashkat Ltd
- Inditex, Industria de Diseo Textil SA
- Fox Wizel Ltd
- Inter Ikea Systems BV
For more information about this report visit https://www.researchandmarkets.com/r/73mu6l
