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It has been added to ResearchAndMarkets. com’s offering “Philippine Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Data Book) – Market Size and Forecast (2015-2024) – Covid-19 Q2 2020 Update”.
Description of the report
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 Philippines.
Historically, the gift card market in the Philippines has grown at an annual compound rate of 19. 2% in 2015-2019. However, according to the Global Gift Card Survey at the time of the 2020 quarter, the gift card market in the Philippines is expected to be affected. retail and commercial segments due to disruptions caused by the Covid-19 epidemic.
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 are expected to profoundly reshape the dynamics of the gift card industry.
Despite short-term challenges, the medium- and long-term expansion of gift cards in the Philippines remains strong. The gift card in the Philippines will continue to grow during the forecast era and is expected to record an annual compound rate of 13. 9% between 2020 and 2024 The country’s gift card market will grow from US$467. 1 million in 2019 to US$764. 2 million through 2024.
Adopting gift cards through companies in the Philippines is one of the reasons that will continue to drive the expansion of the gift card industry. Organizations are increasingly gift cards to offer their workers and business partners rewards and incentive cards to sell. one of the gift card providers in the country, which is helping corporations launch their virtual gift card and loyalty systems in the Philippines.
Qwikcilver, a comprehensive prepaid gift card provider in India, announced plans to expand its market in the Philippines. In its Southeast Asian Gift Card Conclave in September 2019, the company praised the increase in Internet and cellular commerce such as Sodexo, a food service and facility control company, offers customizable gift vouchers that can be used within its merchant network and various institutions for spouses in the Philippines, such as Abenson , Inasal, Watsons and Yellow Cab Pizza Co.
Bangko Sentral ng Pilipinas (BSP) has announced its vision in which it aims to lighten the Philippines until 2023. After the country announced its virtual transformation program, BSP brought eGov Pay and QR PH as virtual payment solutions. While the Philippines will have to wait for its dependence on money to decline, government and banking efforts inspire moneyless transactions, allowing more Filipinos to use gift cards as money-free modes.
Another emerging trend that will drive the expansion of the gift card market in the Philippines is the growing number of self-employed workers in the country who settle for foreign consumer bills through virtual gift cards. The start of gift card payment will be a key driving force in the expansion of the gift card industry.
This report provides detailed research focusing on knowledge of the gift card and business incentive card market, as well as customer behavior and retail spending dynamics in the Philippines. With more than two hundred KPIs nationwide, this report provides a complete overview of gift dynamics. market for 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, divided into retail and customer segments. For retail and customer segments, this report provides a breakdown of gift spending by product categories (13 segments) and retail sectors (7 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. Evaluate customer behavior through the customer (retailer and company – SMEs, intermediary, business giant), 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 input segments of companies (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 across corporate length.
Open circuit and closed circuit: provides market estimates and forecasts to evaluate opportunities in gift card segments and incentives in open circuit and closed circuit in 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 primary stores in the Philippines.
Distribution Channel Analysis: Provides the percentage of the market through the distribution channel: online sales versus offline sales and internal sales versus third-party sales (sales at other retailers’ point-of-sale).
Percentage of closed-circuit gift card market through major stores. Major covered stores include:
SM Retail Inc.
Mercury Drug Corp
Puregold Price Club Inc.
Rustan De Cos Group
seven
Whampoa Hutchison Ltd.
Metro AG
Gaisano Gran Grupo de Cos
Gaisano Capital Group
Abenson Inc.
San Miguel Corp
Rose Pharmacy Inc.
Gold Ricitos Bakery Inc.
Prince Warehouse Club Inc.
For more information on this report, https://www. researchandmarkets. com/r/whseai
See the edition in businesswire. com: https://www. businesswire. com/news/home/20200917005444/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