Wilmington, Delaware, Sept. 22, 2023 (GLOBE NEWSWIRE) -- South Africa Gift Card and Incentive Card Market was valued at US$ 820 million in 2023 and is expected to grow at a significant CAGR of over 5% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
When it comes to gifting, gift cards are a popular option for both consumers and businesses. Gift cards provide consumers with the opportunity to select their favorite things, while businesses frequently utilize them as incentives and rewards for employees and customers. People may now buy, send, and redeem gift cards more easily thanks to the widespread use of digital gift cards and e-gift cards. This is consistent with the larger trend of digital transformation in the retail and payment sectors.
Overall, the gift card and incentive card market in South Africa is being driven by consumer preferences, business strategies, and the evolving digital landscape.
- According to a deep-dive market assessment by RationalStat, the South Africa gift card and incentive card market has been analyzed on the basis of market segments, including product type, consumer, distribution channel and geography/regions (including Western South Africa, Southern South Africa, Eastern South Africa, Northern South Africa). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the South Africa gift card and incentive card market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the South Africa gift card and incentive card market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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South Africa Gift Card and Incentive Card Market: Segmental and Market Share Analysis
- On the basis of distribution channel, online sales segment is expected to drive the growth of the market. Over the last few quarters online sales have surged significantly in South Africa.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1153.8 million |
| Market Size Forecast | US$ 820 million |
| Growth Rate | 5% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the South Africa gift card and incentive card market include,
By selling e-gift cards, online shops are bolstering their customer acquisition approach. As a result, the use of e-Gift cards is predicted to skyrocket over the following 4-6 quarters.
- In November 2021 Bitrefill, a global payments company, has expanded its services to South Africa. At the point-of-sale, customers can change their cryptocurrencies, such as bitcoins, into gift cards.
Some of the prominent players and suppliers operating and contributing significantly to the South Africa gift card and incentive card market growth include Shoprite Holdings Ltd, Pick ‘n’ Pay Stores Ltd, International Spar Centrale BV, Wal-Mart Stores Inc, Woolworths Holdings Ltd, Cape Union Mart, and Carrefour SA, among others.
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RationalStat has segmented the South Africa gift card and incentive card market based on product type, consumer, distribution channel, and region
- South Africa Gift Card and Incentive Card Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product Type
- E-Gift Card
- Physical Card
- South Africa Gift Card and Incentive Card Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Consumer
- Individual
- Corporate
- South Africa Gift Card and Incentive Card Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Online
- Offline
- South Africa Gift Card and Incentive Card Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- South Africa Gift Card and Incentive Card Market
- Western South Africa
- Southern South Africa
- Eastern South Africa
- Northern South Africa
- South Africa Gift Card and Incentive Card Market
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Key Questions Answered in the Gift Card and Incentive Card Report:
- What will be the market value of the South Africa Gift Card and Incentive Card market by 2030?
- What is the market size of the South Africa Gift Card and Incentive Card market?
- What are the market drivers of the South Africa Gift Card and Incentive Card market?
- What are the key trends in the South Africa Gift Card and Incentive Card market?
- Which is the leading region in the South Africa Gift Card and Incentive Card market?
- What are the major companies operating in the South Africa Gift Card and Incentive Card market?
- What are the market shares by key segments in the South Africa Gift Card and Incentive Card market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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