Italy Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics, 2017-2021 & 2022-2026
Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The "Italy Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Gift card industry in Italy is expected to grow by 8.8% on annual basis to reach US$7024.5 million in 2022.
Despite near-term challenges in 2022, medium to long term growth story of gift cards in Italy remains strong. The gift card industry in Italy is expected to grow steadily in H1 2022 and record a strong growth in H2 2022. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 6.7% during 2022-2026. The gift card market in the country will increase from US$6455.0 million in 2021 to reach US$9088.9 million by 2026.
Key gift card players such as Auchan Holding, Amazon, Carrefour Group, EPIPOLI, and EUROSPAR, are driving the Italian gift card industry with different market expansion strategies. From strategic partnerships to expansion and collaboration, these players are expected to drive further growth of the gift card market in Italy over the next four to eight quarters.
Crypto Smart Market helps consumers to convert cryptocurrencies into gift cards to shop from big brands
There is growing adoption of cryptocurrencies among Gen Z and Millennials in Italy. This has led to increased investment in virtual currencies over the last four to eight quarters. Looking at this trend and to help consumers purchase their favorite products using cryptocurrencies, new services are being launched in the country.
Crypto Smart Market, which is launched by Crypto Smart, an Italian Exchange Company, makes it possible for consumers to purchase products through their cryptocurrency holdings. Notably, the platform allows consumers to buy gift cards of the best brands by selling an equivalent amount of cryptocurrency. These gift cards can then be used by consumers to complete the purchase of products.
Large number of online shoppers is creating demand for digital gift cards in Italy
The internet penetration rate has constantly surged over the last few quarters in Italy. As of October 2021, more than 90% of the Italian population was involved in online shopping. Therefore, the high internet penetration rate and rising online shoppers are creating demand for digital gift cards in Italy.
The surge in the adoption of digital gift cards has also been accelerated by the global coronavirus pandemic. Because of the fear of getting infected by the coronavirus, there has been a sudden increase in the need for cash alternatives. This has fueled the growth of the digital gift card market to some extent in Italy over the last four to eight quarters.
The publisher expects the trend to continue and the shift in consumer behavior to persist even in the post-pandemic era, thereby supporting the growth of the market from the short to medium-term perspective.
Physical gift cards hold the majority of the share in Italy
While digital gift card market share has grown significantly over the last few quarters, physical gift cards still hold the majority of the market share in the country. Gift card providers have an extensive network of point-of-sale solutions driving the growth of physical gift cards in Italy.
For instance, EPIPOLI, one of the leading gift card providers in the country, has more than 50,000 point-of-sale locations. While the publisher expects physical gift cards to hold the majority of the market share, it also projects the digital gift card segment to have the fastest compound annual growth in the country over the next four to eight quarters.
Scope
Closed Loop Gift Card Market Share by Key Retailers
Coop Italia scarl
CONAD - Consorzio Nazionale Dettaglianti Scrl
Esselunga SpA
Selex Gruppo Commerciale SpA
Auchan Group SA
Gruppo Eurospin
Carrefour SA
Crai Secom SpA
Schwarz Beteiligungs GmbH
Apple Inc
Amazon.com Inc
Total Spend on Gifts in Italy
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 Italy
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 Italy
Retail Consumer
Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Italy
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 Italy
By Functional Attribute
By Occasion1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. OtherValue by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in Italy
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 Italy
By Functional Attribute
By Occasion1. Employee Incentive
2. Sales Incentive
3. Consumer IncentiveBy Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Italy
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 Italy
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 Italy
Gift Card Online Sales
Gift Card Offline Sales
1st Party Sales
3rd Party Sales
Sales Uplift
For more information about this report visit https://www.researchandmarkets.com/r/gnl360
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