Chile Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics Report 2020 with Covid-19 Updates
Dublin, Oct. 12, 2020 (GLOBE NEWSWIRE) — The “Chile Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Market Size and Forecast (2015-2024) – Covid-19 Update Q2 2020” report has been added to ResearchAndMarkets.com’s offering.
In line with broader trends observed in Latin America, gift card has witnessed strong adoption across retail and corporate segments in Chile over the last few years. In 2020, the author expects growth in retail consumer segment to be driven by changing consumer preference towards gift card and self-use segments. This will be largely influenced by new socio-economic market realities due to Covid-19 outbreak.
In value terms, the gift card market in Chile has recorded a CAGR of 17.9% during 2015-2019.The gift card industry in Chile will continue to grow over the forecast period and is expected to record a CAGR of 15.0% during 2020-2024. The gift card market in the country will increase from US$ 649 million in 2019 to reach US$ 1,183.6 million by 2024.
Digital gift card segment is expected to gain market share, outperforming the overall gift card market in Chile. At a fundamental level, this is driven by growing e-commerce market and smartphone user base in the country, supported by current market dynamics due to pandemic.
Corporate spending is another factor that is driving the growth of the gift card industry in the country. In Chile, bonuses and legal rewards are paid out twice a year to the employees. Once during Christmas or year-end and once during the Independence Day holiday in Chile. Businesses in the country are using gift cards in Chile to offer incentives to their employees.
Some of the key third party players in the gift card industry include giftly.com and paxful.com. The adoption of gift cards is increasing steadily among the locals to make in-store and e-commerce purchases.
Another emerging trend in Chile is the use of a gift card to buy cryptocurrencies such as bitcoins and others. Although the percentage of people having a bank account in Chile is over 80%, the complexity of buying bitcoin through money is offering support for the growth of gift cards in the country. Individuals can use their iTunes gift cards to buy bitcoins in Chile. These gift cards are available on paxful.com and localbitcoins.com. The ability to buy bitcoins with gift cards is likely to provide support to the growth of the gift card market in the country.
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 Chile. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
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 Chile.
- 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 Chile: 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.
Scope
Total Spend on Gifts in Chile
- 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 Chile
- 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 Chile
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Chile
- 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 Chile
- 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 Chile
- 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 Chile
- 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 Chile
- 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 Chile
- 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 Chile
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
- Falabella SACI
- Cencosud SA
- Wal-Mart Stores Inc
- SMU SA
- Feria Chilena del Libro SA
- Ripley Corp SA
- Empresas La Polar SA
- Multitiendas Corona SA
- SalcoBrand SA
- Empresas Hites SA
For more information about this report visit https://www.researchandmarkets.com/r/xrwc9z
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