DUBLIN–(BUSINESS WIRE)–The “Malaysia Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
The Malaysian gift card market is poised to continue its robust growth trajectory, with expectations to grow by 12.6% on an annual basis, culminating in an industry value of US$1.7 billion in 2024. Driven by the country’s embracing of digital solutions, the rise of ecommerce, and the sustained utility of gift cards as an incentive mechanism within corporate structures, the industry is forecasted to achieve a compound annual growth rate (CAGR) of 11.2% between 2024-2028. This will result in a substantial expansion from US$1.5 billion in 2023 to an anticipated US$2.6 billion by 2028.
Extensive Market Analysis
Comprehensive analysis reveals that the gift card market in 2023 was propelled by multiple facets, notably the surge of ecommerce, the digitalization of gifts, and efforts by various industries to rebound from economic challenges. Moreover, a notable increase in the use of these financial instruments for rewards and recognition among remotely working employees has contributed to its widespread adoption across both the retail and corporate sectors. The extensive market analysis encompasses an array of retail categories and sectors that contribute to the current and predicted market size. A data-centric approach, including over 75 key performance indicators (KPIs) at the country level, shapes a detailed understanding of market dynamics.
Coverage of Key Market Segments
The scope of the market intelligence has been meticulously structured to cover significant sectors and consumer segments. This includes a breakdown of total spend on gifts, differentiated by retail and corporate segments across various product categories and retail sectors. A further delineation of the gift card market size by consumer segments highlights the distribution of gross load value, transaction value, unused value, average value per transaction, and more.
Digitalization and Consumer Trends
Special focus is placed on the digital gift card market size, reflective of changing consumer behaviors and preferences. Insights are segmented by retail and corporate purchase occasions, company sizes, and consumer demographics. Attention is given to variables such as functional attributes, purchase channels, and key occasions like festivals, special celebrations, and employee incentive programs.
Sectorial and Retail Insights
Thorough insights into product categories and retail sectors provide an understanding of gift card spend. Categories include Food & Beverage, Apparel, Electronics, and Travel, among others. Retail sector analysis covers ecommerce and department stores, entertainment, and health and wellness, to name a few. The sales estimates not only portray current market scenarios but also provide predictive insights, fostering strategic planning and decision-making.
Distribution Channel Dynamics
Understanding sales dynamics is crucial for market stakeholders. The report offers clarity on the nuances of distribution channels, encompassing both online and offline sales, with a comparative analysis of first-party and third-party sales and their impact on the overall market. The comprehensive investigation encapsulates the Malaysian gift card and incentive card market, offering a granular understanding essential for stakeholders looking to harness the potential of this growing market. The insights provided reflect the depth and breadth essential for informed decision-making in this dynamic financial product space.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $1.7 Billion |
| Forecasted Market Value (USD) by 2028 | $2.6 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Malaysia
|
Companies Featured
- Tesco
- Giant
- Aeon
- 99 Speedmart
- Watsons
- Mr. D.I.Y.
- Aeon Big
- Ikea
- Apple
For more information about this report visit https://www.researchandmarkets.com/r/lb5451
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