Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "Switzerland Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.
Switzerland's gift card sector is demonstrating robust growth, with projections indicating a rise from US$1.6 billion in 2023 to an anticipated US$2.2 billion by 2028. Encompassing retail and corporate segments, the market's expansion is fueled by a combination of factors including the acceleration of e-commerce, remote work incentives, and digital gifting solutions.
Innovation and Sector Evolution
The Swiss gift card industry is witnessing significant innovation, marked by the introduction of Bitcoin gift cards by leading retailers. As the nation garners interest in cryptocurrency, these offerings cater to the tech-literate consumer base and diversify the market. Additionally, local programs aiming to invigorate community commerce and consumer protection regulations ensure a balanced growth within the gift card sphere.
Strategic Partnerships and Regulatory Updates
Key partnerships have emerged, such as that between Valora and Vardex, offering Bitcoin gift cards across kiosks, suggesting a trend towards increased cryptocurrency accessibility. Concurrently, regulatory measures establish transparency and security for consumers engaging with gift cards, covering aspects such as fees, expiration dates, and usage terms.
Consumer Sentiment and Market Resilience
Despite challenges presented by the economic impact of COVID-19, the gift card market in Switzerland has demonstrated resilience with a return to growth expected in the first half of 2023. This recovery is underpinned by consumer behaviors, with a shift towards online shopping and digital gift cards. The marketplace remains buoyant, with a forecasted strong growth in the latter half of 2023, setting a course for reaching the projected market value by 2028.
Scope and Opportunities
The market's dynamics reveal a wealth of opportunities across a variety of retail categories, supported by detailed insights into consumer spending habits, sectoral performance, and channel distribution. The overarching trend indicates a strategic shift towards digital solutions in the retail consumer segment, with profound implications for the corporate sector, where gift cards are increasingly integrated into incentive programs.
This projection of growth within the Swiss gift card market accentuates its importance as a significant component of the retail and corporate reward and incentive landscape, with technological evolutions and strategic partnerships playing vital roles in its development.
Companies Featured
- Migros Genossenschaftsbund eG
- Coop Genossenschaft
- Maus Frères SA
- Aldi Group
- fenaco-LANDI Gruppu
- Inter Ikea Systems BV
For more information about this report visit https://www.researchandmarkets.com/r/95qmmj
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