The "United Kingdom 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.
United Kingdom is expected to grow by 10.9% on annual basis to reach US$ 8507.6 million in 2021
Despite near-term challenges in 2021, medium to long term growth story of gift cards in United Kingdom remains strong. The gift card industry in United Kingdom 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 9.3% during 2021-2025. The gift card market in the country will increase from US$ 7668.8 million in 2020 to reach US$ 12162.6 million by 2025.
The gift card market in the UK has been growing steadily over the years, making it one of the key mature gift card markets in Europe. The gift card sector volumes in the UK were impacted by the COVID-19 in H1 2020. This improved in the second half of 2020 as consumers increased spend especially on e-gift cards. The current sales of e-gift cards trend continued and was further augmented by the COVID-19, with significant growth in eVouchers and digital cards.
Global Gift Card Survey Q4 2020, digital gift card penetration increased sharply to over 45% in the UK in 2020. This is expected to increase further as people look for virtual gifting options due to extended lockdown. Majority of traction is seen among Generation X shoppers (35-54s) and Baby Boomers (55+). Going forward, spending on gift cards is expected to increase via work programmes, and the value of gift cards that shoppers receive as part of loyalty, rewards, and incentive.
To cater to rising consumer gift card needs, companies are focusing on offering gift cards for various occasions. In November 2020, InComm Payments collaborated with Motivates Inc. to sell Motivates' Lifestyle Ultimate multi-choice gift card via its retail network in the UK. The Lifestyle Ultimate multi-choice gift card allows customers to shop at 80 merchants and is available at 3,600 major high street retailers, grocery, and convenience stores in the UK.
Earlier in February 2020, InComm engaged with Eezi, a transaction processing technology company, to launch Poundland's gift card program in the UK. Poundland is a discount variety store chain in the UK which provides gift cards for gaming, online shopping, dining, retail, and streaming.
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 (2016-2025) for gift cards and incentive cards in United Kingdom.
- 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 United Kingdom: 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
Total Spend on Gifts in United Kingdom
- 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 United Kingdom
- 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 United Kingdom
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in United Kingdom
- 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 United Kingdom
- 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 United Kingdom
- 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 United Kingdom
- 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 United Kingdom
- 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 United Kingdom
- 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 United Kingdom
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Key Retailers Covered Include:
- Tesco Plc
- Associated British Foods Plc
- Next Plc
- J Sainsbury Plc
- Wal-Mart Stores Inc
- TJX Cos Inc, The
- Wm Morrison Supermarkets Plc
- Amazon.com Inc
For more information about this report visit https://www.researchandmarkets.com/r/yrceeh
View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005743/en/
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