Brazil Gift Card and Incentive Card Market Report 2023: A $9.63 Bn Market by 2027 Featuring Casino Guichard-Perrachon, Natura Cosmeticos, Wal-Mart, Lojas Americanas, Adeo, Cencosud, & Magazine Luiza

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Dublin, March 24, 2023 (GLOBE NEWSWIRE) — The “Brazil Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2023 Update” report has been added to ResearchAndMarkets.com’s offering. Brazil’s gift card industry is expected to grow by 11.6% on annual basis to reach US£ 6,419.2 million in 2023. In value terms, the gift card market in Brazil has recorded a CAGR of 10.7% during 2018-2022.

The gift card industry in Brazil will continue to grow over the forecast period and is expected to record a CAGR of 10.7% during 2023-2027. Gift card market in the country will increase from US£ 5,754.0 million in 2022 to reach US£ 9,636.2 million by 2027. 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. 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.

The Brazilian gift card industry is becoming increasingly competitive as more and more players continue to enter the market. From payment providers to banking institutions and online food delivery platforms, firms are looking to leverage the growing popularity of the payment method to drive their revenue in Brazil. Furthermore, to reach millions of Brazilians, global gift card providers are forging strategic alliances with digital wallet providers to launch gift card marketplaces in the country.

Many of the leading brands are also running promotional campaigns using gift cards to drive customer attention and sales in Brazil. The publisher expects these trends to further grow as the country recorded strong growth in the gift card segment over the next three to four years.
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An increasing number of firms are entering the growing and competitive gift card landscape in Brazil Ever since the global pandemic outbreak, the popularity of gift cards has surged among Brazilians. With the rising usage of gift cards, for both online and offline shopping, more and more players have entered the market.

In December 2022, Saque e Pague, a technology-based firm in Brazil, announced its foray into the gift card market as it seeks to drive increased revenue by targeting new sectors. At the point of sale, the firm is allowing Brazilians to buy and recharge their gift cards. The firm’s foray into the segment comes after it entered into a strategic collaboration with E-Pay.

Initially, Saque e Pague will sell gift cards that can be used at iFood, Rappi, Google, Uber, and Xbox Stores. In November 2022, Banco Itau, the Brazilian banking institution, announced that the firm is foraying into the gift card segment amid the rising popularity of the payment method. Initially, the firm will be selling gift cards from Google Play, Airbnb, iFood, Spotify, Uber, Playstation, and Xbox.

Brazilians will have access to these gift cards from Banco Itau mobile application, thereby offering more convenience to consumers in the country. In August 2022, C6 Bank, another banking institution based in Brazil, announced a personalized gift-giving service for its customers in the country. The firm launched a gift card service that customers can use for online services and gaming platforms, including Uber, iFood, Spotify, Xbox, and others.

From the short to medium-term perspective, more players are expected to enter the gift card industry in Brazil, as the demand for the payment solution continues to rise among Brazilians. This will drive the competitive landscape in the country, thereby assisting market innovation and growth. Global gift card providers are forging strategic alliances to launch digital gift card marketplaces in Brazil

To reach millions of potential customers and to further consolidate their position in the segment, global gift card providers are entering into collaboration with digital wallets in Brazil. For instance, In October 2022, Givex, one of the leading gift card players in the Brazilian market, announced that the firm had entered into a strategic partnership with Cittamobi, the largest public transport app in the country, to launch a gift card marketplace inside the digital wallet service ran by Cittamobi.

The collaboration will assist Givex and its clients, such as iFood, to sell gift cards to millions of transit users registered with Cittamobi. These strategic collaborations are expected to further drive the adoption of gift cards among Brazilians from the short to medium-term perspective, thereby assisting the overall industry growth in the region. Big brands are running promotional campaigns by leveraging gift cards popularity in Brazil

Many brands turn to gift card-powered promotional campaigns to drive their sales and the trends are no different in Brazil. Global brands are leveraging gift cards’ popularity to drive their revenue. For instance,

In December 2022, Coca-Cola launched a Christmas promotional campaign to drive the sales of its product. Under the campaign, the firm offered BRL 40 worth of gift card when consumers buy the brand’s product at iFood and manages to draw the bottle shape using the audio feature on WhatsApp. Consumers can use the gift card for future purchases at iFood.

The publisher expects more brands to run such promotional campaigns using gift cards to drive their revenue and sales. This will further assist the popularity of gift cards as a payment tool among Brazilians from the short to medium-term perspective. Closed Loop Gift Card Market Share by Key Retailers.

Key Retailers Covered Include: Scope Total Spend on Gifts in Brazil

  • 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 Brazil

Gift Card Market Size by Consumer Segment in Brazil Digital Gift Card Market Size in Brazil Gift Card Market Size by Retail Consumer in Brazil

Gift Card Spend by Consumer Behavior and Demographics in Brazil

  • 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 Brazil

  • By Functional Attribute

  • By Occasion

  • Employee Incentive

  • Sales Incentive

  • Consumer Incentive

  • By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Brazil

  • 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 Brazil

  • 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 Brazil

  • 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/4pa0l5

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