Dublin, April 27, 2021 (GLOBE NEWSWIRE) -- The "Europe Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Spend Analysis by Digital/e-Gift Card, Retail and Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.
The European gift card market has seen significant growth over the past few years. However, the gift card market growth in the region in 2020 has been impacted due to the pandemic. COVID-19 has had adverse effect on the social and economic condition in Europe. Real GDP fell by about 40% in Q2'20 (annualized quarter-over-quarter), with greater contraction in advanced Europe, where the virus spread first, as compared to emerging Europe. Moreover, the pandemic is worsening in the region. As per Organization for Economic Co-operation and Development (OECD), the UK is the most affected by the pandemic and by the end of 2021 the UK economy is expected to be 6% smaller than pre- COVID crisis.
The impact of COVID-19 has increased the demand for online services beginning from daily essentials to gift items. Retailers and merchants have been focusing on having an online presence to reach to a greater audience especially in these challenging times. Many retailers have started launching volunteer e-gift cards.
Another factor that is driving the growth of the gift card market in region includes increasing acceptance of corporate gift cards. In the corporate gifting sector, digital gift cards are more popular as compared to traditional gift items in the employee incentives segment. Besides gifting to employees on different occasions, most of the corporates also run rewards and recognition programs, and as a suitable gifting option companies are giving preference to e-gift cards. Customizability, easy availability, and offering wider choices for employees are the prime factors giving an edge to the digital gift cards over traditional gift options.
Another notable trend in the region was gift card integration with wearables. Broader payment industry trend indicates wearables will gain share in executing payment transactions. Retailers and payment service providers are also gearing up to capitalize on the rising trend. For instance, K Wearables, in association with Mastercard offers K Ring Gift Card, a wearable gift card in the UK.
Demand for online gaming is growing in Europe. Gaming companies are offering gift cards to attract customers. In February 2020, for instance, InComm, a payments technology company, partnered with Roblox, an online gaming platform to launch gift cards in France and Germany.
This report details the impact of economic slowdown along with change in business and consumer sentiment due to disruption caused by Covid-19 outbreak on gift card industry.
Though growth of gift card industry has been impacted due to pandemic, there are certain segments which will gain market share. There are interesting trends emerging across various segments, which are expected to fundamentally reshape gift card industry dynamics. Despite near-term challenges, medium to long term growth story of gift cards remains strong.
This offering is a bundled offering, combining 15 country reports (Norway, France, Germany, Italy, Spain, United Kingdom, Netherlands, Austria, Belgium, Greece, Switzerland, Poland, Denmark, Finland, Russia).
This bundled offering includes country level trend analyses across the following gift card segments:
- Total gift market
- Gift cards
- Details six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
- Corporate incentive & loyalty cards
- Digital gift card (e-gift card) analysis
- Open loop and closed loop
- Consumer attitude and behaviour
- Retail spend
- Market share by retailer
- Distribution channel analysis
Key Retailers Covered Include:
- Aldi Group
- Schwarz Beteiligungs GmbH
- Steinhoff International Holdings Ltd
- Amazon.com Inc
- Etn Franz Colruyt NV
- Delhaize Group Sa
- Inter Ikea Systems BV
- Blokker Nederland BV
- Reitangruppen AS
- Dixons Carphone Plc
- Jysk Holding A/S
- S Group
- Kesko Oyj
- Alko Oy
- Suomen Lahikauppa Oy
- Stockmann Oyj Abp
- Carrefour SA
- E Leclerc
- Edeka Zentral AG & Co KG
- Rewe Group
- Tengelmann Group, The
- Dirk Rossmann KG
- Globus Holding GmbH & Co
- H&M Hennes & Mauritz AB
- Sklavenitis J&S SA
- Marinopoulos SA
- Crai Secom SpA
- Apple Inc
- Royal Ahold NV
- Jumbo Supermarkten BV
- Sperwer Holding BV
- Intergamma BV
- Hema BV
- Tesco Plc
- Eurocash SA
- Metro AG
- Euro-net Sp zoo
- Magnit OAO
- X5 Retail Group NV
- Dixy Group OAO
- Lenta OOO
- M Video OAO
- DNS Group
- El Corte Ingles SA
- Eroski Grupo
- Maus Freres SA
- fenaco-LANDI Gruppu
- Associated British Foods Plc
- Next Plc
- J Sainsbury Plc
- Wal-Mart Stores Inc
- TJX Cos Inc, The
- WM Morrison Supermakets Plc
For more information about this report visit https://www.researchandmarkets.com/r/rmchwk
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.