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Brazil 2024 gift, incentive card market report released

Thursday, March 28, 2024 — 12:33:48 (EDT)

Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Brazil Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

Brazil's gift card industry is expected to reach US$7.2 billion in 2024 and will continue to grow over the forecast period, recording a projected CAGR of 8.9% during 2024-2028. The gift card market in Brazil is forecast to increase from US$6.5 billion in 2023 to reach US$10.1 billion by 2028.

Amid the rising adoption of the payment tool, providers are entering into strategic partnerships to launch new solutions and widen the distribution of their existing products. The trend is projected to continue further in Brazil in 2024, thus aiding the competitive landscape in the market.

Additionally, global gift card providers are also increasing their investment in the Brazilian market. The investment is part of the strategy to further strengthen their position in the fast-growing gift card market over the next three to four years. Overall, a positive growth outlook is forecast for the Brazilian gift card industry from the short to medium-term perspective.

Givex Brasil reported strong growth on the back of new product launches and strategic partnerships in 2023

Amid the increasing adoption of gift cards in the Brazilian market, providers are experiencing strong growth period, and this trend is projected to continue further over the medium term in 2024. Firms like Givex Brasil have reported strong growth over the last 12 months. The firm, notably, entered into various strategic collaborations to launch new products and expand its distribution network.

Givex Brasil, for instance, partnered with leading jewelry brand Vivara to launch the brand's e-gift solution in the GivexHub. Furthermore, the firm also entered into a collaboration with WeWork Brasil to develop its gift card program and distribute the digital gift cards in the GivexHub. The firm, in 2023, also secured a partnership with one of the leading hospitality chains. As a result, Givex Brasil has added more than 500 locations to its extensive network. As part of its collaboration with iFood, the firm has surpassed BRL 1.5 billion in gift card sales through GivexHub. The firm, in 2023, reached BRL 14 billion in transaction value. In 2024, the firm is planning more product launches and strategic collaborations, as part of its commitment to deliver cutting-edge solutions in the Brazilian gift card market.

Global gift card providers have continued to increase their investment in the Brazilian market

With Brazilian offering a promising growth opportunity, global gift card providers are increasing their investment in the Latin American market to further strengthen their position in the region.

InComm Payments, the US-based one of the leading gift card providers globally, announced further investment in the Brazilian market in 2023. The investment is part of the firm's strategy to further strengthen its position in the fast-growing Brazilian gift card industry. The firm, notably, is developing an IT hub in Brazil. The hub will focus on software development and quality assurance automation, among other things.

Brazil has emerged as one of the strong focus markets for InComm Payments over the last decade. The strong banking system, coupled with a robust middle-class group, InComm Payments is seeing a strong growth opportunity in the retail, financial services, and mobile payment space. The firm, in 2020, also acquired gift card payment processor Todo Cartoes.

InComm Payments are expected to further increase its investment in the Brazilian market over the medium term. This will not only aid the competitive landscape but will also drive the growth of the gift card industry over the next three to four years in Brazil.

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.

Key Attributes:

Report Attribute Details No. of Pages 268 Forecast Period 2024 - 2028 Estimated Market Value (USD) in 2024 $7.2 Billion Forecasted Market Value (USD) by 2028 $10.1 Billion Compound Annual Growth Rate 8.9% Regions Covered Brazil

Report 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

Gross Load Value Transaction Value Unused Value Average Value Per Transaction Transaction Volume Average Value of Card Purchased Number of Cards Gift Card Market Size by Consumer Segment

Retail Consumer Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise) Digital Gift Card Market Size in Brazil

By Retail Consumer By Retail Purchase Occasion By Corporate Consumer By Corporate Purchase Occasion By Company Size Gift Card Market Size by Retail Consumer

By Functional Attribute By Occasion Value by Purchase Channel Gift Card Spend by Consumer Behavior and Demographics

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

By Functional Attribute By Occasion By Scale of Business Gift Spend by Product Categories

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

Ecommerce & Department Stores Restaurants & Bars Supermarket, Hypermarket, Convenience Store Entertainment & Gaming Specialty Stores Health & Wellness Travel Gift Card Spend by Distribution Channel

Gift Card Online Sales Gift Card Offline Sales 1st Party Sales 3rd Party Sales Sales Uplift

For more information about this report visit www.researchandmarkets.com/r/mknfto

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Source: Company press release.