DUBLIN, Sept. 2, 2022 /PRNewswire/ -- The "Colombia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Colombia's gift card industry is expected to grow by 11.7% on annual basis to reach US$852.0 million in 2022.
Gift card market in 2021 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth. Though the gift card market was impacted due to COVID-19, the market is expected to bounce back in the coming quarters, especially in H1 2022.
Gift card industry in Colombia has done well to withstand the impact of economic slowdown along with negative business and consumer sentiment due to disruption caused by Covid-19 outbreak.
Historically, the gift card market in Colombia has recorded a steady growth with a CAGR of 10.5% during 2017-2021. Despite near-term challenges in 2022, medium to long term growth story of gift cards in Colombia remains strong. The gift card industry in Colombia 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 9.2% during 2022-2026. The gift card market in the country will increase from US$762.7 million in 2021 to reach US$1210.9 million by 2026.
Reasons to buy
- In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2017-2026) for gift cards and incentive cards in Colombia.
- Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
- Get insights into consumer attitude and behaviour in Colombia: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
- Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
- Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
Scope
Companies Mentioned
- Falabella SACI
- Cencosud SA
- PriceSmart Inc
- Inditex, Industria de Diseno Textil SA
- Confecciones Leonisa SA
Total Spend on Gifts in Colombia
- 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 Colombia
- 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 Colombia
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Colombia
- 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 Colombia
- By Functional Attribute
- By Occasion1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. Other - Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in Colombia
- 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 Colombia
- By Functional Attribute
- By Occasion1. Employee Incentive
2. Sales Incentive
3. Consumer Incentive - By Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Colombia
- 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 Colombia
- 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 Colombia
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
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