MarketInsightsReports, a leading South Korea market research firm, is pleased to announce its new report on Gift Card And Incentive Card market, forecast for 2021-2025, covering all aspects of the market and providing up-to-date data on current trends.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis. The report also includes a detailed study of key companies to provide insights into business strategies adopted by various players in order to sustain competition in this highly competitive environment.
Key Retailers Covered Include: Lotte Group, Shinsegae Co Ltd, Hyundai Department Store Co Ltd, GS Holdings Corp, SK Planet Co Ltd, BGF Retail Co Ltd, Costco Wholesale Corp.
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Market Overview:
Gift card market in 2020 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 2021.
Gift card industry in South Korea 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 South Korea has recorded a steady growth with a CAGR of 12.3% during 2016-2020. Global Gift Card Survey, gift card industry in the country is expected to grow by 11.7% on annual basis to reach US$ 5379.3 million in 2021.
Despite near-term challenges in 2021, medium to long term growth story of gift cards in South Korea remains strong. The gift card industry in South Korea is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 8.8% during 2021-2025. The gift card market in the country will increase from US$ 4814.4 million in 2020 to reach US$ 7548.7 million by 2025.
Browse the report description and TOC:
The study objectives of this report are:
- To study and analyze the South Korea Gift Card And Incentive Card size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2024, and forecast to 2025.
- To understand the structure of Gift Card And Incentive Card by identifying its various sub-segments.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key South Korea Gift Card And Incentive Card manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To analyze the Gift Card And Incentive Card with respect to individual growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of Gift Card And Incentive Card submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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