Dublin, March 23, 2021 (GLOBE NEWSWIRE) -- The "Kenya Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook): Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering.

Historically, the gift card market in Kenya has recorded a steady growth with a CAGR of 14.2% during 2016-2020. According to the publisher's Q4 2020 Global Gift Card Survey, gift card industry in the country is expected to grow by 16.9% on annual basis to reach US$ 292.1 million in 2021.

The gift card industry in Kenya has done well to withstand the impact of economic slowdown along with negative business and consumer sentiment due to disruption caused by the COVID-19 outbreak.

The 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.

Despite near-term challenges in 2021, medium to long term growth story of gift cards in Kenya remains strong. The gift card industry in Kenya 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 13.5% during 2021-2025. The gift card market in the country will increase from US$ 249.8 million in 2020 to reach US$ 484.4 million by 2025.

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 Kenya. 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 Kenya

Gift Card Market Size by KPIs across Consumer Segments in Kenya

Gift Card Market Size by Consumer Segment in Kenya

Digital Gift Card Market Size in Kenya

Gift Card Market Size by Retail Consumer in Kenya

Gift Card Spend by Consumer Behavior and Demographics in Kenya

Gift Card Market Size by Corporate Consumer in Kenya

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

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

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

For more information about this report visit https://www.researchandmarkets.com/r/5f5ghd