DUBLIN–(BUSINESS WIRE)–The “Australia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
According to the Q4 2021 Global Gift Card Survey, gift card industry in the country is expected to grow by 11.3% on annual basis to reach US$6060.3 million in 2022.
Despite near-term challenges in 2022, medium to long term growth story of gift cards in Australia remains strong. The gift card industry in Australia is expected to grow steadily in H1 2022 and record a strong growth in H2 2022. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 8.8% during 2022-2026.
The gift card market in the country will increase from US$5446.5 million in 2021 to reach US$8504.0 million by 2026.
Leading digital gift card providers are eyeing public issue in Australia
In the midst of growing consumer demand for digital gift card solutions because of the global pandemic and the related global supply chain crisis, providers have experienced strong growth over the last few quarters. On the back of this substantial growth, digital gift card players are also eyeing stock market float in Australia.
The publisher expects more digital gift card players in the country to consider the public issue for their fundraising strategies over the next four to eight quarters, as consumer sentiment for fintech and payments sector firm remains strongly positive and at an all-time high.
Traditional banking firms are acquiring stakes in digital gift card firms to stay competitive in Australia
As the demand for efficient and innovative gift card solutions continues to grow among consumers in Australia, even banking players are looking to enter the sector through strategic investment and partnerships.
Australia-based gift card providers are expanding globally
With the global gift card market expected to see strong growth in the short to medium term, Australia-based digital gift card providers are looking to expand their services into the global market.
Scope
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
Total Spend on Gifts in Australia
Gift Card Market Size by KPIs across Consumer Segments in Australia
Gift Card Market Size by Consumer Segment in Australia
Digital Gift Card Market Size in Australia
Gift Card Market Size by Retail Consumer in Australia
Gift Card Spend by Consumer Behavior and Demographics in Australia
Gift Card Market Size by Corporate Consumer in Australia
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Australia
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Australia
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Australia
For more information about this report visit https://www.researchandmarkets.com/r/qv7i9x
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