Market to reach $2.3 billion by 2028, driven by e-commerce and remote work incentives

Belgian gift card and incentive card market

Dublin, April 17, 2024 (GLOBE NEWSWIRE) — The report “Belgium Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2024 Update” has been added to The Offer.

The Belgian gift card market is expected to continue to grow, with a projected annual growth rate of 7.3%, reaching a market size of $1.8 billion in 2024. This positive development is expected to register a compound annual growth rate (CAGR) of 5.5% from 2024 to 2028, culminating in a robust market valuation of $2.3 billion by 2028.

The industry’s growth in 2023 has been driven by a number of factors including the rise of e-commerce, the increasing trend of incentivizing remote workers, the rise of digital gifting and revitalization initiatives by the government and the hospitality and travel industries. This momentum is underpinned by a comprehensive ecosystem that supports both the retail and corporate sectors.

Consumer segmentation insights

Comprehensive market data shows key performance indicators (KPIs) for various consumer segments, including retail and corporate spending on gift cards. Detailed insights into transaction values, card circulation and consumer purchasing behavior provide a detailed overview of the market landscape.

Development of digital gift cards

Digital gift cards are enjoying huge popularity and contributing significantly to the market size due to their popularity among both individuals and businesses. The ease of personalization and instant delivery make them a popular choice for various occasions.

Consumption patterns of companies and retailers

The report uncovers spending behavior in both retail and corporate sectors, segmented by occasion and functional characteristics. The top spending areas include festivals, special celebrations, milestone recognitions and incentives across employee, sales and consumer categories.

Insights into the retail sector

An in-depth analysis of the gift card market reveals consumer spending across a variety of retail sectors, from food and beverage to travel and entertainment. Understanding these trends helps companies and retailers adapt their strategies to consumer preferences and behaviors.

Sales channel analysis

A crucial factor in the development of the market is the distribution channels through which gift cards are sold. The report examines the dynamics between online and offline sales and between first- and third-party distribution and provides a clear overview of the distribution channels of the market.

The study also sheds light on the changing attitudes and behaviors of Belgian consumers, which is invaluable for optimizing return on investment and adapting offers to market demand. These insights reflect detailed information on retail spending through gift cards, spanning both the individual consumer and corporate landscape.

The significant growth of the Belgian gift card market demonstrates its crucial role as a preferred gifting solution and strategic tool for business incentives. The market potential will continue to be shaped by technological advancements, economic factors and the evolving needs of retailers and consumers.

Featured companies

• Colruyt

• Delhaize

• Aldi

• Carrefour Market

• Lidl

• IKEA

• Intermarché

• Save

• action

Main features:

Report scope

Total spending on gifts in Belgium

• By consumer segment (retail and corporate)

• By product categories (13 segments)

• By retail sectors (7 segments)

Gift Cards Market Size by KPIs across all Consumer Segments in Belgium

Gift cards market size by consumer segment in Belgium

Digital gift card market size in Belgium

Gift card market size by retail customer in Belgium

Gift card spending by consumer behavior and demographics in Belgium

• Consumer purchasing behavior

• Gift card buyers by age group

• Gift card buyers by income level

• Gift card buyers by gender

Gift card market size by corporate customer in Belgium

• By function attribute

• By occasion

• By business size

Spending on gifts by product category (split between retail and corporate customers) in Belgium

• Food and beverages

• Health, Wellness & Beauty

• Clothing, shoes and accessories

• Books & Media Products

• Consumer Electronics

• Restaurants & Bars

• Toys, children and babies

• Jewelry

• Sporting goods

• Accessories and appliances for household and kitchen

• Travel

• Entertainment and games

• Other

Gift card spending by retail sector (split between private and corporate customers) in Belgium

• E-commerce and department stores

• Restaurants & Bars

• Supermarket, hypermarket, general store

• Entertainment and games

• Specialist shops

• Health and Wellness

• Travel

Gift card spending by sales channel (split between private and corporate customers) in Belgium

• Gift card online sales

• Offline sales of gift cards

• First sale

• Third-party sales

• Increase in sales

For more information about this report visit https://www.researchandmarkets.com/r/osj901

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