DUBLIN–(BUSINESS WIRE)–The “New Zealand 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 gift card industry in New Zealand is poised for steady expansion, with expected growth of 7.2% annually, reaching an estimated US$1.0 billion in 2024. This growth trajectory is anticipated to continue, with a consistent compound annual growth rate (CAGR) from 2024 to 2028, culminating in a market size of US$1.3 billion by the end of the forecast period.
2023 Market Insights
The year 2023 saw significant developments in the New Zealand gift card market, fueled by several factors that contributed to its advancement. The surge in e-commerce, the rising trend of remote employee incentivization, digital gifting solutions, and efforts from sectors such as government, hospitality, and travel to stimulate economic recovery all played pivotal roles in the market’s performance.
Comprehensive Market Analysis
An in-depth analysis reveals a multitude of opportunities and potential risks within various retail categories, providing stakeholders with a data-centric view of the gift card market’s dynamics. The analysis includes detailed segmentation across consumer segments—both retail and corporate—and spans diverse retail sectors, offering an exhaustive understanding of the market’s size and forecasted trends.
Consumer and Corporate Segment Growth
The market is segmented into retail and corporate consumers, with granular data provided for each group. Metrics such as gross load value, transaction value, unused value, average value per transaction, and many others give a clear picture of consumer behavior. This critical data allows for the identification of growth segments and aids in the formulation of targeted marketing strategies.
Shifts in Consumer Behavior and Demographics
Consumer behavior and demographics are charted to reveal insights into gift card purchases across various age groups, income levels, and gender. This analysis not only aids in understanding changes in consumer attitudes but also in maximizing return on investment by tailoring products and marketing efforts to specific demographics.
Retail Insights and Distribution Channels
The report examines the impact of retail sectors on gift card spend, including e-commerce, department stores, supermarkets, specialty stores, and several other key retail segments. It also delves into the nuances of distribution channels, analyzing the dynamics of online versus offline sales and the implications of first-party versus third-party sales for the industry.
Future Market Strategies
The measured growth of New Zealand’s gift card market provides opportunities for retailers and marketers to develop tailored strategies that align with identified trends and risks. By focusing on segments poised for growth, businesses can target specific market opportunities and optimize their strategies to thrive in the evolving gift card landscape.
The market insights gleaned from this comprehensive study of New Zealand’s gift card and incentive card market serve as a beacon for navigating the market’s current state and future direction. It shapes an environment ripe for strategic development and innovative approaches to consumer engagement through gift card offerings.
Companies Featured
- Countdown Supermarkets
- New World
- Four Square
- PAK`nSAVE
- Bunnings
- The Warehouse
- Kmart
- Harvey Norman
- Mitre 10
For more information about this report visit https://www.researchandmarkets.com/r/dcf6o2
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