Mexico Gift Card and Incentive Card Market Report 2021-2025 Featuring Wal-Mart, Organizacion Soriana, Comercial Chedraui, Controladora Comercial,V Farmacias Similares, Corporativo Fragua, Home Depot
DUBLIN, Nov. 12, 2021 /PRNewswire/ -- The "Mexico Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast (2016-2025) - Q2 2021 Update" report has been added to ResearchAndMarkets.com's offering.
According to the Q2 2021 Global Gift Card Survey, gift card industry in Mexico is expected to grow by 13.6% on annual basis to reach US$ 2833.1 million in 2021.
Despite near-term challenges in 2021, medium to long term growth story of gift cards in Mexico remains strong. The gift card industry in Mexico 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 10.6% during 2021-2025. The gift card market in the country will increase from US$ 2493.8 million in 2020 to reach US$ 4235.2 million by 2025.
The gift card market in Mexico has grown over the past few years and is further expected to grow due to increased adoption across retail and corporate customer segments. Online purchase of gift cards has become more common as consumers are increasingly engaging in online shopping largely due to COVID-19 restrictions. Gift cards offered digitally as part of promotions or via retail incentive programs could help retailers gain new customers.
Over 80% of the Mexican population has internet access, and the number is growing and exceeding Brazil, the next most populated country in the region. With the growing internet access, the e-commerce reach is further expected to increase in the country. The merchants with digital presence are expected to benefit due to this trend in the long run.
E-commerce in-house gift cards are gaining popularity with leading retailers offering a range of gift cards for different occasions. Consequently, digital gift cards are likely to grow in popularity given the increase in online shopping.
To support local businesses through the coronavirus crisis, the New Mexico Economic Development Department announced the launch of 'Buy for Tomorrow' website, BuyNMLocal.com, in April 2020. The website lists services offered by businesses and offers consumers to buy a gift card and provides access to phone number and email of local businesses. Consumers can finalize their products or services they want to purchase now and take the delivery when the business reopens. This move was initiated to support over 150,000 small businesses in New Mexico.
Corporate gift cards are also likely to see growth as employees look for flexible and discounted gifting options. Companies are offering rewards and incentives via gift cards especially during holiday season. Giftly.com and mexico.net.nz are some of the popular third-party gift card providers in Mexico.
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 Mexico. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.
Scope
Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
- Wal-Mart Stores Inc
- Organizacion Soriana SAB de CV
- Grupo Comercial Chedraui Sa de CV
- Controladora Comercial Mexicana SAB de CV
- Farmacias Similares SA de CV
- Corporativo Fragua Sa de CV
- Home Depot Inc, The
Total Spend on Gifts in Mexico
- 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 Mexico
- 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 Mexico
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Mexico
- 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 Mexico
- 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 Mexico
- 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 Mexico
- By Functional Attribute
- By Occasion
- Employee Incentive
- Sales Incentive
- Consumer Incentive
- By Scale of Business
- Budget Allocation Trend for 2021
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Mexico
- 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 Mexico
- 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 Mexico
- 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/790rlk
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