The “Market Information for Gift Cards and Incentive Cards in the United Arab Emirates and Future Growth Dynamics (Data Book) – Market Size and Forecasts (2015-2024) – Covid Update-19 Q2 2020” has been added to the ResearchAndMarkets. com offer.
The UAE gift card market has developed at an annual compound rate of 19. 2% in 2015-2019. However, according to the Global Gift Card Survey for the second quarter of 2020, the UAE gift card market is expected to be affected in the retail and corporate segments due to disruption caused by the outbreak. Covid-19.
This report mainly notes that they have an effect on the economic recession and the replacement of customer and business confidence due to disruptions caused by the Covid-19 epidemic in the gift card industry in the United Arab Emirates.
Although the expansion of the gift card industry is affected by the pandemic, some segments, such as self-consumption, will gain significant market share. The adoption of electronic gift cards is also expected to increase particularly over the next four to six quarters. are emerging in segments, which deserve to fundamentally reshape the dynamics of the gift card industry.
Despite short-term challenges, the medium- and long-term expansion of gift cards in the United Arab Emirates remains strong. The gift card in the United Arab Emirates will continue to grow during the forecast era and is expected to record an annual compound rate of 13. 3%. Between 2020 and 2024, the country’s gift card market will grow from $1269. 4 million in 2019 to $2043. 5 million through 2024.
The marketplaceplaceplaceplaceplaceplace is expected to continue to grow as several new players providing cutting-edge products enter the marketplaceplaceplaceplaceplaceplaceplace. the UAE e-commerce market the e-commerce market accepts more than 30% of the retail industry in Gulf Cooperation Council (GCC) countries. gift card market in the country.
The call for gift card development is encouraging card issuers to focus on the progression and launch of new products. For example, in July 2019, Google Play presented its gift card in the United Arab Emirates. These gift cards can be used to purchase apps, movies, etc. Books and can also be used in major stores in the United Arab Emirates in a similar way, Netflix presented Unidos. De new gift card for uaE subscribers in November 2019. La new card functions as a prepaid coupon that allows consumers to access a Netflix member and pay for their subscriptions. you can purchase these gift cards in virtual and physical version in stores such as Lulu Hypermarket, Etisalat, Virgin Megastore, Sharaf DG and Carrefour, among others in the UAE market.
Increased adoption by companies is also driving the already developing gift card market in the United Arab Emirates, which places it to use the electronic gift card option for their workers, especially in difficult economic conditions, when wage accumulation or bonus bills are not sustainable. In April 2019, YouGotaGift, a virtual gift card company, introduced a praise solution for workers, Rewards. ‘ Companies can use Rewards to praise their workers for many accomplishments, such as remarkable projects, fair performance, innovation, protection praise, and a stellar track record. The company has noticed a 225% increase in the number of companies that enroll in its virtual loyalty and popularity systems in 2019.
This report provides detailed research focusing on market knowledge of gift cards and business incentive cards, as well as customer behavior and retail spending dynamics in the United Arab Emirates. With more than two hundred KPIs nationwide, this report provides complete market dynamics of gift cards and incentive cards.
The following is a summary of country-level trend analyses across gift card segments:
Total gift market: This report provides a detailed view of overall gift spending, broken down into retail and customer segments. segments).
Gift Cards: Based on the effects of exclusive surveys, this report provides an in-depth investigation of opportunities in the categories of open-circuit and closed-circuit prepaid gift cards. gift opportunity, virtual gift card (electronic gift card) and market percentage across the retail sector.
Details six key functionality indicators: number of cards in circulation, loadArray without using Average Acquisition Array consistent with Transaction and Transaction Array
Corporate Incentive and Loyalty Cards: This report provides detailed dynamics of the business incentive card market, largely segmented into 3 categories: Customer Incentive Card, Worker Incentive Card, and Business/Partner Incentive Card. category level, through functional characteristics (open and closed circuit) and through business input segments (small, medium and business).
Digital Gift Card Research (Electronic Gift Cards): Provides market life and forecasts for virtual gift cards, damaged by retail and corporate buyers. birthday party, non-public use, others; Business incentive cards – customer incentive card, worker incentive card and sales/partner incentive card). The report also includes adopting virtual gift cards through the corporate extension.
Open Circuit and Closed Circuit: Provides market estimates and forecasts to evaluate opportunities in gift card segments and open-circuit and closed-circuit incentives across all segments.
Consumer attitude and behavior: Based on the effects of exclusive surveys, this report identifies and translates signs of key functionality similar to gift card dynamics, adding expenses by age, gender, and revenue source level.
Retail expenses: Distribute retail spending across retail (7 segments) to provide detailed data on customer behavior and adjustments to gift card spending dynamics.
Retail Market Percentage: Provides the market percentage of closed-loop gift cards through major stores in the United Arab Emirates.
Distribution Channel Analysis: Provides the percentage of the market through the distribution channel: online sales versus offline sales and own sales instead of third parties (sales through other retailers’ points of sale).
Companies mentioned
Crossroads SA
Cooperative Consumer Union (CCU)
Reference group
Emke Group
Life Healthcare Group
Damascus International Ltd
T Choithram
Sharaf DG LLC
Inter Ikea Systems BV
Spinney’s Group Ltd
Rivoli Group
Jumbo Electronics Co LLC
Souq Group Pvt Ltd
For more information on this report, https://www. researchandmarkets. com/r/9zgioe
See the edition in businesswire. com: https://www. businesswire. com/news/home/20200921005324/fr/
contacts
ResearchAndMarkets. com Laura Wood, Senior Press Managerpress@researchandmarkets. com For E. S. T. , 1-917-300-0470 For USA/ CAN, toll-free 1-800-526-8630