United Kingdom Gift Card and Incentive Card Market Report 2021
Dublin, Feb. 26, 2021 (GLOBE NEWSWIRE) -- 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 git 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 Supermakets Plc
Amazon.com Inc
For more information about this report visit https://www.researchandmarkets.com/r/u4rb5
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900