Dublin, Oct. 17, 2024 (GLOBE NEWSWIRE) -- The "China Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The gift card market in China is experiencing a significant expansion, with expectations to grow annually by 7.8% reaching US$176.3 billion in 2024. As per the latest market intelligence, the industry is set to continue its upward trajectory, showcasing a Compound Annual Growth Rate (CAGR) of 6.6% from 2024 to 2028. Consequently, the gift card market value will ascend from US$163.6 billion in 2023 to an impressive US$227.6 billion by 2028.
Driving Factors Behind Market Growth
A combination of factors contributed to the strong performance of the gift card market in 2023, laying a solid foundation for future growth. E-commerce expansion, rising remote work employee incentives, a surge in digital gifting solutions, alongside efforts from governmental, hospitality, and travel sectors to propel recovery, have played instrumental roles in the market's development.
Comprehensive Analysis of the Gift Card and Incentive Card Segments
The recent analysis offers an extensive overview of the gift card and incentive card markets in China, delving into various retail categories and consumer segments to identify market opportunities and potential risks. Evaluation of over 75 Key Performance Indicators (KPIs) at the country level provides industry participants with insights into the market size and forecast, along with a granular understanding of market dynamics.
Consumer Behavior And Demographics
Data on gift card spend among consumers highlight distinct purchase behaviors and demographic patterns, such as differences in age groups, income levels, and gender. The market size has also been assessed concerning corporate consumers by business scale and occasion, allowing for a nuanced view of incentive strategies across employee, sales, and consumer incentives.
Sectoral and Distribution Channel Insights
The findings offer a breakdown of gift card spend by product categories and retail sectors, providing a glimpse into consumer preferences across sectors from food & beverage to travel. Distribution channels are dissected into online and offline sales, first-party and third-party sales, enabling stakeholders to pinpoint the most lucrative avenues for gift card distribution.
In conclusion, the report presents a multi-dimensional portrait of China's burgeoning gift card market, underscoring the strategic opportunities available for market participants to align with evolving consumer trends and behaviors, and to capitalize on the growth trajectory forecasted for the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $176.3 Billion |
| Forecasted Market Value (USD) by 2028 | $227.6 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | China |
Companies Featured
- Alibaba Group Holding Ltd
- JD.com Inc
- Auchan Group SA
- Wal-Mart Stores Inc
- Bailian Group Co Ltd
- Yonghui Superstores Group
- Apple Inc
For more information about this report visit https://www.researchandmarkets.com/r/pslzog
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