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2021 Turkey Gift Card and Incentive Card Market and Future Growth Dynamics: Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Distribution Channel and Demographics - ResearchAndMarkets.com


The "Turkey Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook): Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.

The gift card market is in Turkey is likely to grow in 2020 and beyond across retail and corporate segments as it continues to be used at retail stores, online stores, restaurants, for entertainment and various experiences. One of the key factors driving the gift card market is the consumer shift to online shopping.

Turkey's e-commerce volume is estimated to reach over US$251 billion by the end of 2021 and is further likely to reach over US$300 billion in 2022, owing to growth in online sales fueled by the COVID-19 outbreak. The pandemic has boosted digitalization and made retailers and merchants realize the importance of e-commerce. GittiGidiyor, an e-commerce website in Turkey, for instance, saw a threefold growth in its daily average. The growing e-commerce trend is expected to drive the growth of digital gift cards, as e-tailers issue these cards to lure customers.

Spend on e-gift card platforms by retailers are expected to increase significantly. Retailers with strong ecommerce and well established e-gift card program are expected to gain market share. The socio-economic environment created by the COVID-19 outbreak has further accelerated growth of this segment. Adoption has increased significantly in Q3 2020, a trend expected to continue over the forecast period.

A growing number of people are preferring experiences as gifts, rather than conventional gifts. Different industries. Several restaurant chains are looking at gift cards as an innovative tool to attract and gain new customers. Other use cases for gift cards in Turkey include mobile gift card programs offered by food retailers to drive revenues, entertainment based gift cards (Apple iTunes Gift Card, Netflix gift card), and purchase of bitcoins and other cyrptocurrencies using gift cards.

The gift card industry in Turkey is expected to grow by 14.8% on annual basis to reach US$ 1521.8 million in 2021. Despite near-term challenges in 2021, the medium to long term growth story of gift cards in Turkey remains strong. The gift card industry in Turkey 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 12.4% during 2021-2025. The gift card market in the country will increase from US$ 1326.0 million in 2020 to reach US$ 2432.8 million by 2025.

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:

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/nxo5mv

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