DUBLIN--(BUSINESS WIRE)--The "Australia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook): Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.
Australia is expected to grow by 12.2% on annual basis to reach US$ 5391.7 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in Australia remains strong.
The gift card industry in Australia 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 9.8% during 2021-2025. The gift card market in the country will increase from US$ 4806.4 million in 2020 to reach US$ 7839.1 million by 2025.
Adoption of gift cards in Australia has recorded strong growth in recent years across both retail as well as corporate segments. Consumers have shifted to online shopping due to the pandemic which has benefitted the gift card industry and driven the growth of digital gift cards. The corporate gifting sector has seen huge traction as corporates choose to reward and recognize employees by giving gift cards.
The pandemic has impacted all sectors in Australia and to cope up with the losses, in November 2020, NSW Government announced to offer $100 vouchers to all adults for spending on entertainment and dining under the Out & About scheme. The scheme is likely to cost $500 million to the government and is expected to launch in Sydney's CBD in December 2020 and other locations in 2020. This initiative was part of government's effort to encourage individuals to shop and spend.
Moreover, during the holiday season consumers spend more on gifts. In the 2020 holiday season, spending on gift cards are likely to increase in Australia given the growth in e-commerce.
On the regulatory front, Australian government announced that gift cards purchased post November 2019 will have an expiry date of three years from the date of purchase instead of one year validity. This has resulted in increased adoption of gift cards in 2020.
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 Australia. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
Scope
Total Spend on Gifts in Australia
- By Consumer Segment (Retail and Corporate)
- By Product Categories (13 Segments)
- By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments in Australia
- Gross Load Value
- Transaction Value
- Unused Value
- Average Value Per Transaction
- Transaction Volume
- Average Value of Card Purchased
- Number of Cards
Gift Card Market Size by Consumer Segment in Australia
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Australia
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer in Australia
- By Functional Attribute
- By Occasion
- Festivals & Special Celebration Days
- Milestone Celebration
- Self-Use
- Other
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in Australia
- Consumer Purchase Behaviour
- Gift Card Buyer by Age Group
- Gift Card Buyer by Income Level
- Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer in Australia
- By Functional Attribute
- By Occasion
- Employee Incentive
- Sales Incentive
- Consumer Incentive
- By Scale of Business
- Budget Allocation Trend for 2021
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Australia
- Food & Beverage
- Health, Wellness & Beauty
- Apparel, Footwear & Accessories
- Books & Media Products
- Consumer Electronics
- Restaurants & Bars
- Toys, Kids, and Babies
- Jewelry
- Sporting Goods
- Home & Kitchen Accessories & Appliances
- Travel
- Entertainment & Gaming
- Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Australia
- Ecommerce & Department Stores
- Restaurants & Bars
- Supermarket, Hypermarket, Convenience Store
- Entertainment & Gaming
- Specialty Stores
- Health & Wellness
- Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Australia
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
- Wesfarmers Ltd
- Woolworths Ltd (Australia)
- Metcash Ltd
- Aldi Group
- Harvey Norman Holdings Ltd
- JB Hi-Fi Ltd
- Apple Inc
For more information about this report visit https://www.researchandmarkets.com/r/q3akjc
