Dublin, Nov. 08, 2021 (GLOBE NEWSWIRE) -- The "Italy Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2016-2025) - Q2 2021 Update" report has been added to ResearchAndMarkets.com's offering.
According to the Q2 2021 Global Gift Card Survey, gift card industry in Italy is expected to grow by 10.0% on annual basis to reach US$ 6388.0 million in 2021.
Despite near-term challenges in 2021, 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 2021 and record a strong growth in H2 2021.
The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 7.5% during 2021-2025. The gift card market in the country will increase from US$ 5806.5 million in 2020 to reach US$ 8536.4 million by 2025.
The Italian economy has slid into recession due to COVID-19 crisis. As per national statistics bureau ISTAT, the economy declined by a quarterly rate of 12.8% during April-June 2020 period mainly due to crash in consumer spending and investment during lockdown. The economy is 17.7% smaller than it was in the same period in 2019.
Consequently, gift card market has recorded a subdued growth in 2020. However, the Global Gift Card Survey, Q2 2021 suggests a steady bounce back in 2021. The gift card usage and spending are expected to increase over the short to medium term.
E-commerce in Italy continued to grow despite the pandemic. The internet traffic in March 2020 increased by 60%. Rising smartphone penetration has supported growth in online sales in the country. To further foster online growth, the Italian Trade Agency aims to allow 300 local SMEs to digitize on Alibaba.com. The changing customer preference towards online shopping is expected to support gift card growth in Italy in the medium to long term.
According to the publisher, over 44% of the surveyed shoppers preferred gift cards, reflecting a fundamental shift in consumer behavior. Interestingly, gift card adoption has increased significantly in 35-47 years age group as well though younger millennials and Gen Z continue to account for majority of the gift card sales.
Italians still prefer to shop in-store rather than buying online though this is changing with online gift card sales accounting for over 40% of the market. The gift card penetration is expected to increase in the coming years as consumers shop online and look for convenient gifting options.
The publisher also expects increased spend on AI driven solutions to enable gift card personalization and curb security issues. Increased spend on AI will also focus on gift card architecture management, from card issuance to use of the card, and offer various deals that can attract consumers.
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 Occasion
- Festivals & Special Celebration Days
- Milestone Celebration
- Self-Use
- 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 Occasion
- Employee Incentive
- Sales Incentive
- Consumer Incentive
- By Scale of Business
- Budget Allocation Trend for 2021
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/11xe9f
