Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Brazil Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
Brazil's gift card industry is expected to reach US$7.2 billion in 2024 and will continue to grow over the forecast period, recording a projected CAGR of 8.9% during 2024-2028. The gift card market in Brazil is forecast to increase from US$6.5 billion in 2023 to reach US$10.1 billion by 2028.
Amid the rising adoption of the payment tool, providers are entering into strategic partnerships to launch new solutions and widen the distribution of their existing products. The trend is projected to continue further in Brazil in 2024, thus aiding the competitive landscape in the market.
Additionally, global gift card providers are also increasing their investment in the Brazilian market. The investment is part of the strategy to further strengthen their position in the fast-growing gift card market over the next three to four years. Overall, a positive growth outlook is forecast for the Brazilian gift card industry from the short to medium-term perspective.
Givex Brasil reported strong growth on the back of new product launches and strategic partnerships in 2023
Amid the increasing adoption of gift cards in the Brazilian market, providers are experiencing strong growth period, and this trend is projected to continue further over the medium term in 2024. Firms like Givex Brasil have reported strong growth over the last 12 months. The firm, notably, entered into various strategic collaborations to launch new products and expand its distribution network.
- Givex Brasil, for instance, partnered with leading jewelry brand Vivara to launch the brand's e-gift solution in the GivexHub. Furthermore, the firm also entered into a collaboration with WeWork Brasil to develop its gift card program and distribute the digital gift cards in the GivexHub.
- The firm, in 2023, also secured a partnership with one of the leading hospitality chains. As a result, Givex Brasil has added more than 500 locations to its extensive network. As part of its collaboration with iFood, the firm has surpassed BRL 1.5 billion in gift card sales through GivexHub.
The firm, in 2023, reached BRL 14 billion in transaction value. In 2024, the firm is planning more product launches and strategic collaborations, as part of its commitment to deliver cutting-edge solutions in the Brazilian gift card market.
Global gift card providers have continued to increase their investment in the Brazilian market
With Brazilian offering a promising growth opportunity, global gift card providers are increasing their investment in the Latin American market to further strengthen their position in the region.
- InComm Payments, the US-based one of the leading gift card providers globally, announced further investment in the Brazilian market in 2023. The investment is part of the firm's strategy to further strengthen its position in the fast-growing Brazilian gift card industry. The firm, notably, is developing an IT hub in Brazil. The hub will focus on software development and quality assurance automation, among other things.
- Brazil has emerged as one of the strong focus markets for InComm Payments over the last decade. The strong banking system, coupled with a robust middle-class group, InComm Payments is seeing a strong growth opportunity in the retail, financial services, and mobile payment space. The firm, in 2020, also acquired gift card payment processor Todo Cartoes.
InComm Payments are expected to further increase its investment in the Brazilian market over the medium term. This will not only aid the competitive landscape but will also drive the growth of the gift card industry over the next three to four years in Brazil.
This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $7.2 Billion |
| Forecasted Market Value (USD) by 2028 | $10.1 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Brazil |
Report Scope
Total Spend on Gifts in Brazil
- 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
- 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
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Brazil
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer
- By Functional Attribute
- By Occasion
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics
- 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
- By Functional Attribute
- By Occasion
- By Scale of Business
Gift Spend by Product Categories
- 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
- Ecommerce & Department Stores
- Restaurants & Bars
- Supermarket, Hypermarket, Convenience Store
- Entertainment & Gaming
- Specialty Stores
- Health & Wellness
- Travel
Gift Card Spend by Distribution Channel
- 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/mknfto
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