Dublin, March 31, 2023 (GLOBE NEWSWIRE) -- The "Singapore Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
The gift card market in Singapore has recorded a CAGR of 10.0% during 2018-2022. According to the publisher, gift card industry in the country is expected to grow by 9.6% on annual basis to reach US$ 1,276.8 million in 2023.
The gift card industry in Singapore will continue to grow over the forecast period and is expected to record a CAGR of 8.8% during 2023-2027. Gift card market in the country will increase from US$ 1,165.0 million in 2022 to reach US$ 1,790.4 million by 2027.
Gift card market in 2022 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.
This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.
Reasons to buy
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In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2018-2027) for gift cards and incentive cards in Singapore.
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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.
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Get insights into consumer attitude and behaviour in Singapore: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
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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.
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Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
Key Retailers Covered Include:
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NTUC FairPrice Co-operative Pte Ltd
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Dairy Farm International Holdings Ltd
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Shen Siong Supermarket Pte Ltd
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Takashimaya Co Ltd
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Mustafa Holdings Pte Ltd
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Courts Asia Ltd
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Al Futtaim Group LLC
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Yamada Denki Co Ltd