Dublin, Oct. 07, 2020 (GLOBE NEWSWIRE) -- The "Colombia 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.

Historically, the gift card market in Colombia has recorded a steady growth with a CAGR of 16.3% during 2015-2019. However, According to the Q2 2020 Global Gift Card Survey, gift card market in Colombia is expected to be impacted across retail and corporate segments due to disruption caused by Covid-19 outbreak.

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 Colombia.

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 Colombia remains strong. The gift card industry in Colombia will continue to grow over the forecast period and is expected to record a CAGR of 11.2% during 2020-2024. The gift card market in the country will increase from US$ 679.9 million in 2019 to reach US$ 1024.2 million by 2024.

In the retail consumer segment, gift card has been gaining share. Digital gift car in Colombia has also recorded strong growth, driven by increasing penetration of ecommerce. Apart from this, corporate spending is also supporting the growth of the gift card industry. Corporates in Colombia are increasingly making use of gift card solutions to offer incentives to their employees.

Another emerging trend that is likely to boost the growth of the gift card industry is the purchase of gift cards through cryptocurrencies. Additionally, for those who do not have a bank account, are increasingly using gift cards to buy cryptocurrencies in Colombia. Some of the key third-party players that offers cryptocurrency gift cards include bitrefill.com and paxful.com.

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 Colombia. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.

Scope

Total Spend on Gifts in Colombia

Gift Card Market Size by KPIs across Consumer Segments in Colombia

Gift Card Market Size by Consumer Segment in Colombia

Digital Gift Card Market Size in Colombia

Gift Card Market Size by Retail Consumer in Colombia

Gift Card Spend by Consumer Behavior and Demographics in Colombia

Gift Card Market Size by Corporate Consumer in Colombia

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

Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Colombia

Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Colombia

Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:

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

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900