DUBLIN–(BUSINESS WIRE)–The “Vietnam Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
Despite near-term challenges in 2022, medium to long term growth story of gift cards in Vietnam remains strong. The gift card industry in Vietnam 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 16.5% during 2022-2026. The gift card market in the country will increase from US$488.5 million in 2021 to reach US$1075.1 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 Vietnam 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.
Historically, the gift card market in Vietnam has recorded a steady growth with a CAGR of 19.3% during 2016-2020. According to the Q4 2021 Global Gift Card Survey, gift card industry in the country is expected to grow by 19.3% on annual basis to reach US$582.7 million in 2022.
Reasons to buy
Scope
Total Spend on Gifts in Vietnam
Gift Card Market Size by KPIs across Consumer Segments in Vietnam
Gift Card Market Size by Consumer Segment in Vietnam
Digital Gift Card Market Size in Vietnam
Gift Card Market Size by Retail Consumer in Vietnam
Gift Card Spend by Consumer Behavior and Demographics in Vietnam
Gift Card Market Size by Corporate Consumer in Vietnam
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Vietnam
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Vietnam
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Vietnam
For more information about this report visit https://www.researchandmarkets.com/r/9036n7
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