DUBLIN--(BUSINESS WIRE)--The "Chile 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.
In value terms, the gift card market in Chile has recorded a CAGR of 17.9% during 2015-2019.The gift card industry in Chile will continue to grow over the forecast period and is expected to record a CAGR of 15.0% during 2020-2024. The gift card market in the country will increase from US$ 649 million in 2019 to reach US$ 1,183.6 million by 2024.
In line with broader trends observed in Latin America, gift card has witnessed strong adoption across retail and corporate segments in Chile over the last few years. In 2020, the author expects growth in retail consumer segment to be driven by changing consumer preference towards gift card and self-use segments. This will be largely influenced by new socio-economic market realities due to Covid-19 outbreak.
Digital gift card segment is expected to gain market share, outperforming the overall gift card market in Chile. At a fundamental level, this is driven by growing e-commerce market and smartphone user base in the country, supported by current market dynamics due to pandemic.
Corporate spending is another factor that is driving the growth of the gift card industry in the country. In Chile, bonuses and legal rewards are paid out twice a year to the employees. Once during Christmas or year-end and once during the Independence Day holiday in Chile. Businesses in the country are using gift cards in Chile to offer incentives to their employees.
Some of the key third party players in the gift card industry include giftly.com and paxful.com. The adoption of gift cards is increasing steadily among the locals to make in-store and e-commerce purchases.
Another emerging trend in Chile is the use of a gift card to buy cryptocurrencies such as bitcoins and others. Although the percentage of people having a bank account in Chile is over 80%, the complexity of buying bitcoin through money is offering support for the growth of gift cards in the country. Individuals can use their iTunes gift cards to buy bitcoins in Chile. These gift cards are available on paxful.com and localbitcoins.com. The ability to buy bitcoins with gift cards is likely to provide support to the growth of the gift card market in the country.
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 Chile. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
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 Chile.
- 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
- Falabella SACI
- Cencosud SA
- Wal-Mart Stores Inc
- SMU SA
- Feria Chilena del Libro SA
- Ripley Corp SA
- Empresas La Polar SA
- Multitiendas Corona SA
- SalcoBrand SA
- Empresas Hites SA
For more information about this report visit https://www.researchandmarkets.com/r/msdee1
