Singapore Gift Card and Incentive Card Market Assessment 2015-2024 - Despite Short-Term COVID-19 Challenges, the Market is Expected to Surpass $1.4 Billion by 2024 - ResearchAndMarkets.com
This report details the impact of economic slowdown along with change in business and consumer sentiment due to disruption caused by COVID-19 outbreak on gift card industry in Singapore.
Historically, the gift card market in Singapore has recorded a steady growth with a CAGR of 15.8% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Singapore is expected to be impacted across retail and corporate segments due to disruption caused by COVID-19 outbreak.
Though growth of gift card industry will be impacted due to pandemic, there are certain segments such as self-use which will gain significant market share. Adoption of e-Gift cards is also expected to increase significantly over the next 4-6 quarters. There are interesting trends emerging across various segments, which are expected to fundamentally reshape gift card industry dynamics.
Despite near-term challenges, medium to long term growth story of gift cards in Singapore remains strong. The gift card industry in Singapore will continue to grow over the forecast period and is expected to record a CAGR of 11.1% during 2020-2024. The gift card market in the country will increase from US$ 908.1 million in 2019 to reach US$ 1,433 million by 2024.
This report provides a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in Singapore. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics. The report includes raw data along with structured dashboards, charts, and tables in an interactive Excel format.
Below is a summary of country level trend analyses covered across gift card segments:
Total gift market: This report provides detailed view of overall spend on gifts, broken down by retail and consumer segments. For both retail and consumer segments, this report provides a breakdown of spend on gifts by product categories (13 segments) and retail sectors (7 segments).
Gift cards: Drawing from proprietary survey results, this report provides in-depth analysis of opportunities in both open loop and closed loop prepaid gift card categories. Assesses consumer behaviour by type of consumer (retail and corporate - SMB, Mid-Tier, Large Enterprise), gifting occasion, digital gift card (e-gift card), and market share by retail sectors.
Details six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
Corporate incentive & loyalty cards: This report provides detailed market dynamics of corporate incentive cards, broadly segmented in three categories - consumer incentive card, employee incentive card, and sales/partner incentive card. It details market size and forecast at category level, by functional attribute (open loop and closed loop), and by corporate consumer segments (small scale business, mid-size business, and enterprise business).
Digital gift card (e-gift card) analysis: Provides market size and forecast for digital gift cards, broken down by retail and corporate buyers. It also includes gift card spend by occasion (retail - festivals & special celebration days, milestone celebration, self-use, other; Corporate incentive cards -consumer incentive card, employee incentive card, and sales/partner incentive card). The report also includes digital gift card adoption by company size.
Open loop and closed loop: Provides market estimates and forecasts to assess opportunities in open loop and closed loop gift and incentive card segments across consumer segments.
Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key KPIs related to gift card dynamics including spend by age, gender, and income level.
Retail spend: Breaks down retail spend across retail sectors (7 segments) to provide detailed insights on consumer behaviour and changing dynamics of gift card spend.
Market share by retailer: Provides market share of closed loop gift cards by key retailers in Singapore.
Distribution channel analysis: Provides market share by distribution channel - online vs offline sales and 1st party vs 3rd party sales (sales through outlet of other retailers).
Scope
Total Spend on Gifts in Singapore
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 Singapore
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 Singapore
Retail Consumer
Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Singapore
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 Singapore
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 Singapore
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 Singapore
By Functional Attribute
By Occasion
Employee Incentive
Sales Incentive
Consumer Incentive
By Scale of Business
Budget Allocation Trend for 2020
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Singapore
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 Singapore
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 Singapore
Gift Card Online Sales
Gift Card Offline Sales
1st Party Sales
3rd Party Sales
Sales Uplift
Key Retailers Covered
NTUC FairPrice Co-operative Pte Ltd
Dairy Farm International Holdings Ltd
Shen Siong Supermarket Pte Ltd
Takashimaya Co Ltd
Mustafa Holdings Pte Ltd
Courts Asia Ltd
Al Futtaim Group LLC
Yamada Denki Co Ltd
Hutchison Whampoa Ltd
Challenger Technologies Ltd
Harvey Norman Holdings Ltd
Hour Glass Ltd, The
Isetan Mitsukoshi Holdings Ltd
OG Pte Ltd
CK Tang Ltd
Inter Ikea Systems BV
LVMH Mot Hennessy Louis Vuitton SA
Gain City Best-Electric Pte Ltd
Reasons to Buy
In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2014-2023) for gift cards and incentive cards in Singapore.
Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
Get insights into consumer attitude and behaviour in Singapore: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
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