DUBLIN, Aug. 9, 2022 /PRNewswire/ -- The "Italy Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Gift card industry in Italy is expected to grow by 8.8% on annual basis to reach US$7024.5 million in 2022.
Despite near-term challenges in 2022, medium to long term growth story of gift cards in Italy remains strong. The gift card industry in Italy is expected to grow steadily in H1 2022 and record a strong growth in H2 2022. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 6.7% during 2022-2026. The gift card market in the country will increase from US$6455.0 million in 2021 to reach US$9088.9 million by 2026.
Key gift card players such as Auchan Holding, Amazon, Carrefour Group, EPIPOLI, and EUROSPAR, are driving the Italian gift card industry with different market expansion strategies. From strategic partnerships to expansion and collaboration, these players are expected to drive further growth of the gift card market in Italy over the next four to eight quarters.
Crypto Smart Market helps consumers to convert cryptocurrencies into gift cards to shop from big brands
There is growing adoption of cryptocurrencies among Gen Z and Millennials in Italy. This has led to increased investment in virtual currencies over the last four to eight quarters. Looking at this trend and to help consumers purchase their favorite products using cryptocurrencies, new services are being launched in the country.
Crypto Smart Market, which is launched by Crypto Smart, an Italian Exchange Company, makes it possible for consumers to purchase products through their cryptocurrency holdings. Notably, the platform allows consumers to buy gift cards of the best brands by selling an equivalent amount of cryptocurrency. These gift cards can then be used by consumers to complete the purchase of products.
Large number of online shoppers is creating demand for digital gift cards in Italy
The internet penetration rate has constantly surged over the last few quarters in Italy. As of October 2021, more than 90% of the Italian population was involved in online shopping. Therefore, the high internet penetration rate and rising online shoppers are creating demand for digital gift cards in Italy.
The surge in the adoption of digital gift cards has also been accelerated by the global coronavirus pandemic. Because of the fear of getting infected by the coronavirus, there has been a sudden increase in the need for cash alternatives. This has fueled the growth of the digital gift card market to some extent in Italy over the last four to eight quarters.
The publisher expects the trend to continue and the shift in consumer behavior to persist even in the post-pandemic era, thereby supporting the growth of the market from the short to medium-term perspective.
Physical gift cards hold the majority of the share in Italy
While digital gift card market share has grown significantly over the last few quarters, physical gift cards still hold the majority of the market share in the country. Gift card providers have an extensive network of point-of-sale solutions driving the growth of physical gift cards in Italy.
For instance, EPIPOLI, one of the leading gift card providers in the country, has more than 50,000 point-of-sale locations. While the publisher expects physical gift cards to hold the majority of the market share, it also projects the digital gift card segment to have the fastest compound annual growth in the country over the next four to eight quarters.
Scope
Closed Loop Gift Card Market Share by Key Retailers
- Coop Italia scarl
- CONAD - Consorzio Nazionale Dettaglianti Scrl
- Esselunga SpA
- Selex Gruppo Commerciale SpA
- Auchan Group SA
- Gruppo Eurospin
- Carrefour SA
- Crai Secom SpA
- Schwarz Beteiligungs GmbH
- Apple Inc
- Amazon.com Inc
Total Spend on Gifts in Italy
- 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 Italy
- 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 Italy
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Italy
- 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 Italy
- By Functional Attribute
- By Occasion1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. Other - Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in Italy
- 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 Italy
- By Functional Attribute
- By Occasion1. Employee Incentive
2. Sales Incentive
3. Consumer Incentive - By Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Italy
- 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 Italy
- 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 Italy
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
For more information about this report visit https://www.researchandmarkets.com/r/xm6wpo
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Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets
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