UAE Gift and Incentive Card Market Q1 2022: Increasing Product Launches to Further Boost Gift Card Adoption among Consumers in the UAE

DUBLIN, Feb. 21, 2022 /PRNewswire/ -- The "United Arab Emirates Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.

The gift card industry in the UAE is expected to grow by 13.9% on annual basis to reach US$1635.2 million in 2022. Despite near-term challenges in 2022, medium to long term growth story of gift cards in the United Arab Emirates remains strong. The gift card industry in the United Arab Emirates is expected to grow steadily in H1 2022 and record a strong growth in H2 2022.

The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 11.0% during 2022-2026. The gift card market in the country will increase from US$1435.2 million in 2021 to reach US$2484.5 million by 2026.

Strong growth in e-commerce shopping expected to drive gift card market in the UAE

Over the last four to eight quarters, gift cards have gained widespread popularity among consumers in the UAE and are expected to gain further momentum from the short to medium-term perspective. Notably, this growth in the UAE gift card market is partly fueled by the robust growth in the e-commerce market.

In the UAE, gift cards are growing in popularity among online shoppers who want to avoid the hassle of buying presents during special occasions. Moreover, some online shoppers are resorting to gift cards for their personal usage, as it offers them the convenience of making digital payments on e-commerce platforms. the publisher expects the trend to continue from the short to medium-term perspective, which will subsequently drive the growth of the gift card market in the UAE.

Increasing product launches expected to further boost gift card adoption among consumers in the UAE

As the popularity of gift cards among consumers continues to rise, several new product launches have happened over the last few quarters in the UAE. In October 2021, YouGotaGift, one of the leading digital gift card providers in the country, announced the launch of new gift card products for The Blue Salon and Kunooz.

With hundreds of thousands of Indians residing in the United Arab Emirates, YouGotaGift also launched Kalyan Jewellers gift cards during the Diwali Celebration week in November 2021. As the popularity of gift cards continues to grow in the country, the publisher expects more product launches over the next four to eight quarters. This will subsequently assist the growth of the gift card market in the UAE from the short to medium-term perspective.

Global payments firms are launching gift card services for consumers in the UAE

As the popularity of gift card payment methods continues to grow in the GCC region, global payments firms are entering the market to capitalize on the opportunity and gain market share. 

More global gift cards players and fintech firms are expected to launch their services in the United Arab Emirates over the next four to eight quarters, which will subsequently drive the growth of the market from the short to medium-term perspective.

Report Scope:

Total Spend on Gifts in United Arab Emirates

• 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 United Arab Emirates

• 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 United Arab Emirates

• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size in United Arab Emirates

• 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 United Arab Emirates

• By Functional Attribute
• By Occasion
• Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics in United Arab Emirates

• 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 United Arab Emirates

• By Functional Attribute
• By Occasion
• By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in United Arab Emirates

• 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 United Arab Emirates

• 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 United Arab Emirates

• Gift Card Online Sales
• Gift Card Offline Sales
• 1st Party Sales
• 3rd Party Sales
• Sales Uplift

Companies Mentioned

• Carrefour SA
• Consumer Co-operative Union (CCU)
• Landmark Group
• Emke Group
• Damas International Ltd
• T Choithram & Sons
• Sharaf DG LLC
• Inter Ikea Systems BV

For more information about this report visit https://www.researchandmarkets.com/r/h7nhs4

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