DUBLIN–(BUSINESS WIRE)–The “Philippines Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
The gift card market in the Philippines has recorded a steady growth with a CAGR of 12.0% during 2017-2021. Philippines’ gift card industry is expected to grow by 14.4% on annual basis to reach US$605.5 million in 2022.
Despite near-term challenges in 2022, medium to long term growth story of gift cards in Philippines remains strong. The gift card industry in Philippines 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 12.1% during 2022-2026. The gift card market in the country will increase from US$529.5 million in 2021 to reach US$954.5 million by 2026.
Gift card market in 2021 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth. Though the gift card market was impacted due to COVID-19, the market is expected to bounce back in the coming quarters, especially in H1 2022.
Gift card industry in the Philippines has done well to withstand the impact of economic slowdown along with negative business and consumer sentiment due to disruption caused by Covid-19 outbreak.
Reasons to buy
Scope
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
Total Spend on Gifts in Philippines
Gift Card Market Size by KPIs across Consumer Segments in Philippines
Gift Card Market Size by Consumer Segment in Philippines
Digital Gift Card Market Size in Philippines
Gift Card Market Size by Retail Consumer in Philippines
Gift Card Spend by Consumer Behavior and Demographics in Philippines
Gift Card Market Size by Corporate Consumer in Philippines
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Philippines
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Philippines
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Philippines
For more information about this report visit https://www.researchandmarkets.com/r/mngdlm
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