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Asia Pacific Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q2 2024 Update

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    Report

  • 2948 Pages
  • August 2024
  • Region: Asia Pacific
  • PayNXT360
  • ID: 4751554
The gift card industry in the region is expected to grow by 8.3% on annual basis to reach US$235.7 billion in 2024.

The gift card industry in Asia Pacific will continue to grow over the forecast period and is expected to record a CAGR of 7.2% during 2024-2028. Gift card market in the country will increase from US$217.7 billion in 2023 to reach US$310.7 billion by 2028.

Recent advancements in the Asia Pacific gift card sector, including Qwikcilver's partnership with foodpanda and Tbay's Quick Sell Mode, highlight a focus on innovation and improved consumer experience. However, the sector must navigate complex regulatory challenges and increasing fraud risks.

Key Developments in the Gift Card Sector in Asia Pacific

Several significant product launches have recently taken place in the gift card sector in the Asia Pacific region, showcasing strategic partnerships and innovations aimed at improving consumer engagement.

Product Launches and Innovations

Qwikcilver and foodpanda Partnership: In December 2023, Qwikcilver, a subsidiary of Pine Labs, partnered with foodpanda to launch foodpanda Gift Cards. Initially available for corporate customers in Singapore and Thailand, these gift cards are expected to roll out across all 11 markets where foodpanda operates, significantly enhancing Qwikcilver's market presence in the region.

Tbay's Quick Sell Mode: Also in December 2023, Tbay, a Singapore-based gift card platform, introduced a feature called Quick Sell Mode, designed to expedite gift card transactions by reducing processing time by at least 20%. This innovation aims to address consumer demand for faster and more secure transaction processes, which has become increasingly important in the gift card market.

Strategic Partnerships

Qwikcilver and foodpanda Partnership: In December 2023, Qwikcilver, a subsidiary of Pine Labs, entered a strategic partnership with foodpanda to launch foodpanda Gift Cards. Initially targeted at corporate customers in Singapore and Thailand, these gift cards are set to expand across all 11 markets where foodpanda operates, significantly bolstering Qwikcilver's position in the gift card market.

Regulatory Changes

Regulatory Complexities: The gift card market faces various regulatory and compliance challenges across different countries in the Asia Pacific. These include differing taxation issues and consumer protection laws, which complicate the operations of gift card issuers and retailers that operate in multiple jurisdictions. Adhering to local regulations adds complexity to gift card programs and distribution channels.

Fraud and Security Risks: The region has seen a rise in concerns regarding gift card fraud, counterfeiting, and unauthorized use. Regulatory bodies are increasingly focused on implementing robust security measures and fraud detection systems to protect consumers and businesses. This includes requirements for card vendors to demonstrate experience and good credit records to mitigate risks associated with gift card transactions.

Gift card market in 2023 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.

This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.

This title is a bundled offering, comprising 1 regional and 10 country reports

  • Regional Report - Asia Pacific Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 1 - Australia Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 2 - Indonesia Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 3 - Philippines Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 4 - Singapore Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 5 - Thailand Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 6 - China Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 7 - Japan Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 8 - India Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 9 - South Korea Gift Card and Incentive Card Market Intelligence (Databook)
  • Country Report 10 - Malaysia Gift Card and Incentive Card Market Intelligence (Databook)

Scope

This bundled offering provides the following detailed gift card market opportunity at country level.

Total Spend on Gifts

  • 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

  • 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

  • Retail Consumer
  • Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size

  • By Retail Consumer
  • By Retail Purchase Occasion
  • By Corporate Consumer
  • By Corporate Purchase Occasion
  • By Company Size

Gift Card Market Size by Retail Consumer

  • 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

  • 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

  • By Functional Attribute
  • By Occasion
  • Employee Incentive
  • Sales Incentive
  • Consumer Incentive
  • By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers)

  • 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)

  • 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)

  • 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
  • SM Retail Inc
  • Puregold Price Club Inc
  • Rustan Group of Cos
  • Seven & I Holdings Co Ltd
  • Hutchison Whampoa Ltd
  • Metro AG
  • San Miguel Corp
  • Salim Group
  • Trans Retail Indonesia PT
  • Matahari Putra Prima Tbk PT
  • Sumber Alfaria Trijaya Tbk PT
  • Delhaize Group Sa
  • Kompas Gramedia Group
  • Ace Hardware Corp
  • NTUC FairPrice Co-operative Pte Ltd
  • Dairy Farm International Holdings Ltd
  • Shen Siong Supermarket Pte Ltd
  • Takashimaya Co Ltd
  • Mustafa Holdings Pte Ltd
  • Courts Asia Ltd
  • Al Futtaim Group LLC
  • Yamada Denki Co Ltd
  • Tesco Plc
  • Central Retail Corp
  • Home Product Center PCL
  • Mall Group Co Ltd, The
  • Charoen Pokphand Group
  • Alibaba Group Holding Ltd
  • JD.com Inc
  • Auchan Group SA
  • Wal-Mart Stores Inc
  • Bailian Group Co Ltd
  • Yonghui Superstores Group
  • Flipkart Online Services Pvt Ltd
  • Tata Group
  • Future Group
  • Reliance Group
  • Amazon.com Inc
  • Aditya Birla Group
  • K Raheja Corp
  • AEON Group
  • Lawson Inc
  • FamilyMart Co Ltd
  • Rakuten Inc
  • Isetan Mitsukoshi Holdings Ltd
  • Lotte Group
  • Shinsegae Co Ltd
  • Hyundai Department Store Co Ltd
  • GS Holdings Corp
  • SK Planet Co Ltd
  • BGF Retail Co Ltd
  • Costco Wholesale Corp

Reasons to buy

  • Comprehensive understanding of the dynamics of the gift card and incentive card markets: Recognise the opportunities in the market, the main drivers and trends, and the five-year projection for gift and incentive cards in Asia Pacific.
  • Create strategies tailored to the market: To create your gift card strategy, identify growth categories and target particular opportunities across consumer segments and occasions; evaluate important trends and risks unique to your market.
  • Learn about the attitudes and behaviours of consumers in Asia Pacific: Increase ROI by understanding how consumer attitudes and behaviours are evolving. With gift cards, you may obtain comprehensive information about retail spending for both corporate and retail customers.
  • Six key performance indicators (KPIs) provide a comprehensive view: the quantity of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
  • Distribution channel insights: Recognise the differences in gift card sales across online and offline channels as well as between first-party and third-party sales.

Table of Contents

All global, regional, and country reports mentioned above will have the following tables of contents:
1 About this Report
1.1 Summary
1.2 Methodology
1.3 Definition
1.4 Disclaimer
2 Total Gift Spend Analyzer
2.1 Total Spend on Gift by Value - Market Size and Forecast, 2019-2028
2.2 Total Spend on Gift by Volume - Market Size and Forecast, 2019-2028
2.3 Total Gift Spend Market Share Analysis by Consumer Segment, 2019-2028
2.4 Gift Spend Market Size and Forecast Analysis by Product Category
2.5 Gift Spend Market Share Analysis by Product Category
2.6 Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
2.7 Total Gift Spend Market Share Analysis by Retail Sector
3 Retail Consumer Gift Spend Analyzer
3.1 Retail Consumer Spend on Gift - Market Size and Forecast, 2019-2028
3.2 Retail Consumer Gift Spend Market Analysis by Volume, 2019-2028
3.3 Retail Consumer Gift Spend Market Size and Forecast Analysis by Product Category
3.4 Retail Consumer Gift Spend Market Share Analysis by Product Category
3.5 Retail Consumer Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
3.6 Retail Consumer Total Gift Spend Market Share Analysis by Retail Sector
4 Corporate Consumer Gift Spend Analyzer
4.1 Corporate Consumer Spend on Gift - Market Size and Forecast, 2019-2028
4.2 Corporate Consumer Gift Spend Market Analysis by Volume, 2019-2028
4.3 Corporate Consumer Gift Spend Market Size and Forecast Analysis by Product Category
4.4 Corporate Consumer Gift Spend Market Share Analysis by Product Category
4.5 Corporate Consumer Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
4.6 Corporate Consumer Total Gift Spend Market Share Analysis by Retail Sector
5 Gift Card Spend Analyzer
5.1 Gift Card Spend Market Size and Forecast, 2019-2028
5.2 Gift Card Spend Market Analysis by Transaction Value and Volume, 2019-2028
5.3 Gift Card Spend Market Analysis by Avg. Value and Unused Value, 2019-2028
5.4 Gift Card Spend Market Share Analysis by Consumer Segment
5.5 Gift Card Spend Market Share Analysis by Functional Attribute
5.6 Digital Gift Card Spend Market Size and Forecast, 2019-2028
6 Digital Gift Card Spend Analyzer
6.1 Digital Gift Card Market Size and Forecast, 2019-2028
6.2 Digital Gift Card Penetration by Occasion, 2019-2028
6.3 Retail Consumer Digital Gift Card Market Size and Forecast, 2019-2028
6.4 Retail Consumer Digital Gift Card Spend Market Share Analysis by Occasion, 2019-2028
6.5 Corporate Consumer Digital Gift Card Market Size and Forecast, 2019-2028
6.6 Corporate Consumer Digital Gift Card Spend Market Share Analysis by Occasion, 2019-2028
6.7 Corporate Consumer Digital Gift Card Spend Market Share Analysis by Company Size
6.8 Large Enterprise Segment Digital Gift Card Spend Analysis
6.9 Mid-Tier Segment Digital Gift Card Spend Analysis
6.1 Small Scale Segment Digital Gift Card Spend Analysis
7 Gift Card Spend Share by Demographics and Purchase Behaviour
7.1 Gift Card Spend Share by Age, Income, and Gender
7.2 Digital Gift Card Spend Share by Age, Income, and Gender
7.3 Gift Card Consumer Purchase Behaviour
7.4 Corporate Consumer Gift Card Spend by Company Type
8 Retail Consumer Gift Card Spend Analyzer
8.1 Retail Consumer Gift Card Spend Market Size and Forecast, 2019-2028
8.2 Retail Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
8.3 Retail Consumer Gift Card Spend Market Share Analysis by Functional Attribute
8.4 Retail Consumer Digital Gift Card Spend Market Size and Forecast, 2019-2028
9 Retail Consumer Gift Card Spend Analysis by Functional Attribute
9.1 Retail Consumer Gift Card Spend Market Size and Forecast - Open Loop vs. Closed Loop, 2019-2028
9.2 Retail Consumer Open Loop Gift Card Spend Market Size and Forecast, 2019-2028
9.3 Retail Consumer Closed Loop Gift Card Spend Market Size and Forecast, 2019-2028
9.4 Retail Consumer Average Value of Gift Card Purchased by Functional Attribute
10 Retail Consumer Gift Card Spend Analysis by Occasion
10.1 Retail Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
10.2 Retail Consumer Gift Card Spend Market Size and Forecast - Festivals & Special Celebration Days, 2019-2028
10.3 Retail Consumer Gift Card Spend Market Size and Forecast - Milestone Celebration, 2019-2028
10.4 Retail Consumer Gift Card Spend Market Size and Forecast - Self-Use, 2019-2028
10.5 Retail Consumer Gift Card Spend Market Size and Forecast - Other, 2019-2028
11 Corporate Consumer Gift Card Spend Analyzer
11.1 Corporate Consumer Gift Card Spend Market Size and Forecast, 2019-2028
11.2 Corporate Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
11.3 Corporate Consumer Gift Card Spend Market Share Analysis by Functional Attribute
11.4 Corporate Consumer Digital Gift Card Spend Market Size and Forecast, 2019-2028
12 Corporate Consumer Gift Card Spend Analysis by Functional Attribute
12.1 Corporate Consumer Gift Card Spend Market Size and Forecast - Open Loop vs. Closed Loop, 2019-2028
12.2 Corporate Consumer Open Loop Gift Card Spend Market Size and Forecast, 2019-2028
12.3 Corporate Consumer Closed Loop Gift Card Spend Market Size and Forecast, 2019-2028
12.4 Corporate Consumer Average Value of Gift Card Purchased by Functional Attribute
13 Corporate Consumer Gift Card Spend Analysis by Occasion
13.1 Corporate Consumer Gift Card Spend Market Share Analysis by Occasion, 2019-2028
13.2 Corporate Consumer Gift Card Spend Market Size and Forecast - Employee Incentive, 2019-2028
13.3 Corporate Consumer Gift Card Spend Market Size and Forecast - Sales / Channel Incentive, 2019-2028
13.4 Corporate Consumer Gift Card Spend Market Size and Forecast - Consumer Incentive, 2019-2028
14 Corporate Consumer Gift Card Spend Analysis by Company Size
14.1 Corporate Consumer Gift Card Spend Market Share Analysis by Company Size
14.2 Corporate Consumer - Large Enterprise Segment - Gift Card Spend Market Size and Forecast, 2019-2028
14.3 Corporate Consumer - Mid-Tier Segment - Gift Card Spend Market Size and Forecast, 2019-2028
14.4 Corporate Consumer - Small Scale Segment - Gift Card Spend Market Size and Forecast, 2019-2028
15 Corporate Consumer Gift Card Spend Analysis by Company Size X Functional Attribute
15.1 Large Enterprise Segment Gift Card Spend Market Share Analysis by Functional Attribute
15.2 Mid-Tier Segment Gift Card Spend Market Share Analysis by Functional Attribute
15.3 Small Scale Segment Gift Card Spend Market Share Analysis by Functional Attribute
16 Gift Card Spend Analysis by Distribution Channel
16.1 Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2021-2028
16.2 Retail Consumer Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2021-2028
16.3 Corporate Consumer Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2021-2028
16.4 Gift Card Spend Market Size and Forecast by Online Distribution Channel - 1st Party Sales vs. 3rd Party Sales, 2021-2028
17 Gift Card Spend Analysis by Retail Sector
17.1 Gift Card Spend Market Size and Forecast by Retail Sector, 2019-2028
17.2 Total Gift Card Spend Market Share Analysis by Retail Sector
17.3 Sales Uplift by Retail Sector, 2022
18 Retail Consumer Gift Card Spend Analysis by Retail Sector
18.1 Retail Consumer - Gift Card Spend Market Size and Forecast by Retail Sector, 2019-2028
18.2 Retail Consumer Gift Card Spend Market Share Analysis by Retail Sector
19 Corporate Consumer Gift Card Spend Analysis by Retail Sector
19.1 Corporate Consumer - Gift Card Spend Market Size and Forecast by Retail Sector, 2019-2028
19.2 Corporate Consumer Gift Card Spend Market Share Analysis by Retail Sector

Companies Mentioned

  • Wesfarmers Ltd
  • Woolworths Ltd (Australia)
  • Metcash Ltd
  • Aldi Group
  • Harvey Norman Holdings Ltd
  • JB Hi-Fi Ltd
  • Apple Inc
  • SM Retail Inc
  • Puregold Price Club Inc
  • Rustan Group of Cos
  • Seven & I Holdings Co Ltd
  • Hutchison Whampoa Ltd
  • Metro AG
  • San Miguel Corp
  • Salim Group
  • Trans Retail Indonesia PT
  • Matahari Putra Prima Tbk PT
  • Sumber Alfaria Trijaya Tbk PT
  • Delhaize Group Sa
  • Kompas Gramedia Group
  • Ace Hardware Corp
  • NTUC FairPrice Co-operative Pte Ltd
  • Dairy Farm International Holdings Ltd
  • Shen Siong Supermarket Pte Ltd
  • Takashimaya Co Ltd
  • Mustafa Holdings Pte Ltd
  • Courts Asia Ltd
  • Al Futtaim Group LLC
  • Yamada Denki Co Ltd
  • Tesco Plc
  • Central Retail Corp
  • Home Product Center PCL
  • Mall Group Co Ltd, The
  • Charoen Pokphand Group
  • Alibaba Group Holding Ltd
  • JD.com Inc
  • Auchan Group SA
  • Wal-Mart Stores Inc
  • Bailian Group Co Ltd
  • Yonghui Superstores Group
  • Flipkart Online Services Pvt Ltd
  • Tata Group
  • Future Group
  • Reliance Group
  • Amazon.com Inc
  • Aditya Birla Group
  • K Raheja Corp
  • AEON Group
  • Lawson Inc
  • FamilyMart Co Ltd
  • Rakuten Inc
  • Isetan Mitsukoshi Holdings Ltd
  • Lotte Group
  • Shinsegae Co Ltd
  • Hyundai Department Store Co Ltd
  • GS Holdings Corp
  • SK Planet Co Ltd
  • BGF Retail Co Ltd
  • Costco Wholesale Corp

Table Information