Dublin, Sep 11, 2020 (GLOBE NEWSWIRE) – The report titled “Brazil Gift Card and Incentive Card, Market Intelligence and Future Growth Dynamics (Data Book) – Market Size and Forecast (2015-2024) – Covid-19 Q2 2020 Update “added to ResearchAndMarkets. com offering. The gift card marketplace in the country will grow from US $ 4,481. 5 million in 2019 to US $ 7,414. 4 million by 2024 In value, the gift card marketplace in Brazil signed a CAGR of 18Array 6% in 2015-2019 . in Brazil it will continue to grow during the forecast era and is expected to sign at a CAGR of 13. 8% between 2020 and 2024. The Brazilian economy has been seriously affected by the Covid-19 outbreak. This has had an effect on the gift industry in the retail and corporate segments. Although the expansion of the gift card industry is affected, some segments, such as self-consumption, will gain a significant share of the market. Prepaid payment tools are popular in Brazil due to the huge unbanked and underbanked population. The existing socio-economic situation created as a result of the pandemic is expected to further help the expansion of this segment and gift cards will be one of the main beneficiaries. The adoption through corporations of the gift card is also one of the points that provides a positive expansion dynamics to the industry. Companies are increasingly using gift cards to offer rewards and incentives to their employees. Digital gift cards have experienced a strong expansion in the Brazilian market. This is largely due to the expansion of the e-commerce industry. As the e-commerce market in Brazil continues to grow by leaps and bounds along expanding web penetration rates, the adoption of gift cards to purchase products online is also expected to continue to increase. The adoption of e-gift cards in Brazil is higher in the retail and corporate segments. In the retail segment, electronic gift cards are basically used as a means of payment. In the business segment, the adoption of e-gift cards in small and medium-sized companies has seen strong expansion, and corporations are focused on instant rewards for their employees. With more than forty-five million people in the country without a bank account, the acceptance of gift cards for purchases on the Internet is expected to register a strong expansion during the forecast era, despite the demanding situations to short term due to Covid -19. Furthermore, Brazilian consumers are increasingly using gift cards to redeem bitcoins. Some of the most popular third-party gift card providers in the country come with streetmartbrazil. com and carddelivery. com.
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