Malaysia Gift Card and Incentive Card Market 2015-2019 & 2020-2024
DUBLIN, Sept. 24, 2020 /PRNewswire/ -- The "Malaysia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2015-2024) - Covid-19 Update Q2 2020" report has been added to ResearchAndMarkets.com's offering.
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This report details the impact of economic slowdown along with change in business and consumer sentiment due to disruption caused by Covid-19 outbreak on gift card industry in Malaysia.
Historically, the gift card market in Malaysia has recorded a steady growth with a CAGR of 19.6% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Malaysia is expected to be impacted across retail and corporate segments due to disruption caused by Covid-19 outbreak.
Though growth of gift card industry will be impacted due to pandemic, there are certain segments such as self-use which will gain significant market share. Adoption of e-Gift cards is also expected to increase significantly over the next 4-6 quarters. There are interesting trends emerging across various segments, which are expected to fundamentally reshape gift card industry dynamics.
Despite near-term challenges, medium to long term growth story of gift cards in Malaysia remains strong. The gift card industry in Malaysia will continue to grow over the forecast period and is expected to record a CAGR of 16.1% during 2020-2024. The gift card market in the country will increase from US$ 1,015.0 million in 2019 to reach US$ 1,846.6 million by 2024. Growth in the gift card industry can be attributed to the overall growth of e-commerce business, corporate rewards program and gig economy payments in the country.
In 2020, the e-commerce market is expected to rise by over 25%, which will also support the growth of the gift card industry in the country. The Malaysian government is giving a thrust to the country's cashless society by introducing e-Tunai Rakyat initiative, which aims to provide the much-needed impetus to e-wallet adoption. The program, launched in January 2020, is part of the government's Shared Prosperity Vision 2030 (SPV2030) agenda whose goal is to make digital technology accessible for all. With more than 32 million internet users in the country, the rising adoption of gift cards to make purchases online will drive the market's growth. Leading global players such as Google Play gift cards have already established presence in Malaysia.
In October 2019, 7-Eleven Malaysia in partnership with InComm and Razer launched its point-of-sales activated (POSA) gift cards in Eastern part of Malaysia. These gift cards can be used to buy a range of products and services such as JOOX, Netflix, Spotify Premium, Zalora, KKBox, Sony Play Station, and Starbucks.
Another emerging trend of freelancers accepting payments through gift cards in Malaysia will drive the growth of the market in the coming years. With the ability to buy bitcoins using gift cards, is also boosting the growth of the gift card industry. Some of the third-party service providers such as paxful.com and localbitcoins.com, allows users to trade bitcoins for gift cards in Malaysia.
Corporate spending on gift cards is also increasing in the country, as companies are finding it as an efficient tool to offer rewards and incentives to their employees during holidays and to appreciate their hard work. Businesses are also opting for Charity gift cards to increase their CSR activities and to encourage their employees to give back to the society. Some of the popular third-party gift card providers in the country includes giftvoucher.my, giftr.my and popular.com.my.
This report provides a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in Malaysia. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
Reasons to Buy
-- In-depth understanding of gift card and incentive card market dynamics:
Understand market opportunity, key trends and drivers along with
five-year forecast (2014-2023) for gift cards and incentive cards in
Malaysia.
-- 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.
-- Get insights into consumer attitude and behaviour in Malaysia:
Understand changing consumer attitude and behaviour and boost ROI. Get
detailed insights into retail spend through gift cards for both retail
and corporate consumers.
-- 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.
-- Distribution channel insights: Understand gift cards sales dynamics by
channels - online vs offline and by 1st party vs 3rd party sales.
Scope
Total Spend on Gifts in Malaysia
-- By Consumer Segment (Retail and Corporate)
-- By Product Categories (13 Segments)
-- By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments in Malaysia
-- Gross Load Value
-- Transaction Value
-- Unused Value
-- Average Value Per Transaction
-- Transaction Volume
-- Average Value of Card Purchased
-- Number of Cards
Gift Card Market Size by Consumer Segment in Malaysia
-- Retail Consumer
-- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Malaysia
-- By Retail Consumer
-- By Retail Purchase Occasion
-- By Corporate Consumer
-- By Corporate Purchase Occasion
-- By Company Size
Gift Card Market Size by Retail Consumer in Malaysia
-- By Functional Attribute
-- By Occasion
-- Festivals & Special Celebration Days
-- Milestone Celebration
-- Self-Use
-- Other
-- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in Malaysia
-- Consumer Purchase Behaviour
-- Gift Card Buyer by Age Group
-- Gift Card Buyer by Income Level
-- Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer in Malaysia
-- By Functional Attribute
-- By Occasion
-- Employee Incentive
-- Sales Incentive
-- Consumer Incentive
-- By Scale of Business
-- Budget Allocation Trend for 2020
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Malaysia
-- Food & Beverage
-- Health, Wellness & Beauty
-- Apparel, Footwear & Accessories
-- Books & Media Products
-- Consumer Electronics
-- Restaurants & Bars
-- Toys, Kids, and Babies
-- Jewelry
-- Sporting Goods
-- Home & Kitchen Accessories & Appliances
-- Travel
-- Entertainment & Gaming
-- Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Malaysia
-- Ecommerce & Department Stores
-- Restaurants & Bars
-- Supermarket, Hypermarket, Convenience Store
-- Entertainment & Gaming
-- Specialty Stores
-- Health & Wellness
-- Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Malaysia
-- Gift Card Online Sales
-- Gift Card Offline Sales
-- 1st Party Sales
-- 3rd Party Sales
-- Sales Uplift
For more information about this report visit https://www.researchandmarkets.com/r/q3kdu
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