India $9.34 Billion Gift Card and Incentive Card Markets, 2015-2019 & 2024 with Covid-19 Update Q2 2020 - ResearchAndMarkets.com

The "India Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2015-2024) - Covid-19 Update Q2 2020" report has been added to ResearchAndMarkets.com's offering.

In value terms, the gift card market in India has recorded a CAGR of 25.5% during 2015-2019.The gift card industry in India will continue to grow over the forecast period and is expected to record a CAGR of 19.8% during 2020-2024. Gift card market in the country will increase from US$ 4,632.6 million in 2019 to reach US$ 9,340.6 million by 2024.

In India, the gift card market has recorded one strong growth in recent years, outperforming other comparable countries. With over 245 million gift cards sold in 2019, the gift card industry has attracted interest from start-ups, private equity players, and mobile payment companies as well. According to the Global Gift Card Q2 2020 Survey, gift card is gradually becoming a core component of growth strategy for players across the value chain in India.

India has faced one of the most stringent lockdowns globally. Growth of gift card industry is expected to be impacted in 2020 due to socio-economic environment created by Covid-19 outbreak, leading to fewer celebrations. However, the pandemic has positively impacted growth of ecommerce industry, a trend which will be sustained in coming quarters as lockdown relaxations increase. Consequently, this is expected to drive demand for gift cards, especially digital gift cards (e-gift cards).

Qwikcilver, who is the leading gift card issuer in the country, has over 75% market share in the gift card segment. Majority of Indians prefer physical cards over digital gift cards (e-gift cards). However, the adoption of digital gift card (e-gift card) has been increasing, driven by adoption in self-use segment in retail and in consumer incentives in corporate segment.

Another factor that is driving the growth of the digital gift card market is the rising e-commerce industry in the country. High smartphone penetration rate in India has also played a significant role in getting customers to make use of digital gift cards.

With a large population base and several gifting occasions, the growth potential for the gift card market is humongous in India. The gift card adoption has been increasing in Tier 2 and Tier 3 cities though it is still dominated by Tier 1 cities.

Apart from this, the wide acceptance of corporate gift cards in the form of rewards and sales incentives to recognize employee performance is further boosting the market growth in India.

This report provides a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in India. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.

Scope of the Report

Total Spend on Gifts in India

• 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 India

• 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 India

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

Digital Gift Card Market Size in India

• 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 India

• 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 India

• 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 India

• By Functional Attribute
• By Occasion
• Employee Incentive
• Sales Incentive
• Consumer Incentive
• By Scale of Business
• Budget Allocation Trend for 2020

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

• 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 India

• 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 India

• 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:

• Flipkart Online Services Pvt Ltd
• Jasper Infotech Pvt Ltd
• Tata Group
• Future Group
• Reliance Group
• Amazon.com Inc
• Godrej Group
• Aditya Birla Group
• Dell Inc
• K Raheja Corp
• ITC Group
• Landmark Group
• adidas Group
• Benetton Group SpA
• Vijay Sales Ltd
• LG Corp
• Tribhovandas Bhimji Zaveri Delhi Pvt Ltd

For more information about this report visit https://www.researchandmarkets.com/r/izcer3

View source version on businesswire.com: https://www.businesswire.com/news/home/20200921005319/en/