Dublin, April 05, 2024 (GLOBE NEWSWIRE) -- The "Colombia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The Colombian gift card industry exhibits a promising trajectory, with forecasts indicating a 9.4% annual growth reaching US$1.0 billion in 2024. The industry's progress is projected to maintain momentum, marked by a Compound Annual Growth Rate (CAGR) of 8.7% through the period between 2024 and 2028. As a result, the market valuation is expected to escalate from US$0.9 billion in the year 2023 to an impressive US$1.4 billion by 2028.
Key Influencing Factors
The upward trend in the gift card sector over the previous year has been attributed to a range of stimulating factors. The growth is underpinned by expanding ecommerce platforms, digital gifting solutions, and the rising practice of utilizing gift cards as a mechanism for employee encouragement, particularly amongst remote workers. Moreover, initiatives spearheaded by the government alongside the hospitality and travel sectors, focused on rejuvenating economic growth, have significantly influenced market evolution.
Detailed Market Insights
This comprehensive market examination offers a data-centric review of the gift card market, presenting extensive opportunities and identifying potential risks across numerous retail categories. Over 75 Key Performance Indicators (KPIs) shed light on the intricacies of market dynamics, offering a granular understanding of both the current state as well as future market projections.
Gift Card Usage Across Segments
Insights reveal that the gift card spend originates from various consumer segments, encompassing both the retail and corporate sectors, across a diverse array of product categories and retail sectors. In-depth analysis provides understanding of the gross load value, transaction values, unused value, and the average value per transaction amongst other vital statistics.
Consumer Behavior and Demographics
In aligning with market trends, the report encapsulates consumer behavior, providing demographic insights that entail the age groups, income levels, and gender of gift card purchasers. Analyzing these factors offers a vantage point for comprehending consumer purchase behavior and preferences.
Corporate Consumption
Corporate consumption is dissected to reveal patterns and preferences within functional attributes and specific occasions, such as employee incentives, sales incentives, and consumer incentives. This segmentation facilitates a deeper understanding of corporate consumer tendencies in the context of the gift card market.
Retail Sector and Distribution Channel Insights
The research delves into the expenditures allocated across various retail sectors, including ecommerce, department stores, supermarkets, and specialty stores, to name a few. Distribution channels are examined to discern the nuances between online and offline sales, differentiating between first-party and third-party sales.
Conclusion
The study provides strategic insights that cater to the Colombian gift card and incentive card market. It assists in crafting market-specific strategies and offers a panoramic view of the shifting consumer attitudes and behaviors. Transparency into the gift card market's dynamics is vital for stakeholders to capitalize on emerging trends and to reinforce market positioning in the years to come.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $1 Billion |
| Forecasted Market Value (USD) by 2028 | $1.4 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Colombia |
Companies Featured
- Ara
- Olimpica
- Éxito hypermarkets
- Sodimac Homecenter
- Jumbo Cencosud
- K-Tronix
- Cruz Verde
- Alkosto
- Falabella
For more information about this report visit https://www.researchandmarkets.com/r/9v11t2
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