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The worldwide coronavirus pandemic has also spurred the rise in the use of digital gift cards. The demand for cash alternatives has unexpectedly increased in Italy due to the fear of contracting the coronavirus. In Italy, this has helped the market for digital gift cards grow in some measure during the past several years. As a result, the market for gift cards has had a muted increase in 2020.
Despite the pandemic, e-commerce in Italy kept expanding. In March 2020, there was a 60% rise in internet traffic. Rising smartphone adoption has fueled the country's increase in online commerce. The Italian Trade Agency wants to enable 300 regional SMEs to digitize on Alibaba.com in order to promote online growth even more. In the medium to long term, gift card growth in Italy is anticipated to be supported by the shifting consumer preferences toward online purchasing.
In a Survey taken in Italy where, over 44% of the shoppers preferred gift cards, indicating a significant change in consumer behavior. Interestingly, despite younger millennials and Gen Z still making up the majority of gift card sales, gift card adoption has increased significantly in the 35-47 age group.Regardless of the fact that online gift card sales now make up over 40% of the market, Italians still prefer to purchase goods in-person. In the upcoming years, as more people purchase online and seek out practical gifting options, it is anticipated that the penetration of gift cards will rise.
Scope of the Report
Gift cards are used as a development technique for promoting businesses, luring new customers, raising brand awareness, lowering fraud, and boosting business sales. A gift card can also be used as an alternative form of payment at a particular store or business store to make purchases of goods or services. The Italy Gift Card and Incentive Card Market are segmented based on the card type (Closed-loop card, open-loop card), Consumer type (Retail Consumer, Corporate Consumer), by spend category (E-commerce & departmental stores, restaurants & bars, supermarket, hypermarket and convenience store, entertainment & gaming, specialty store, Health & wellness, travel, others) and by distribution channel (online, offline).
|By Card Type|
|By Consumer type|
|By spend category|
|E-commerce & departmental stores|
|Restaurants & bars|
|Hypermarket and convenience store|
|entertainment & gaming|
|Health & wellness|
|By distribution channel|
Key Market Trends
Increase in Online Shopping is Driving Up Demand for Gift Cards
Over the past few quarters, Italy's internet penetration rate has steadily increased. In Italy, online shopping was done by more than 90% of the population as of October 2021. Due to the widespread use of the internet and the growth of online shopping, digital gift cards are in demand in Italy.
The worldwide coronavirus pandemic has also spurred the rise in the use of digital gift cards. The demand for cash alternatives has unexpectedly increased due to the fear of contracting the coronavirus. This has helped to some extent fuel the expansion of the digital gift card market in Italy over the previous four to eight quarters.
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High Rate of Smartphone Adoption
In Italy, Gift cards have evolved to be more creative in light of the quick growth of smartphones. Gift card aficionados and smartphone users may now bundle everything into one simple package thanks to modern technologies and marketing strategies. Gyft is one of the most well-liked options and is available for both iPhone and Android in Itlay. Gift cards can be added by users to the app and used whenever they go shopping. It is anticipated that more of these connections will accelerate market growth.
The report covers major players operating in the Italy Gift Card and Incentive Card Market along with their product portfolio, key financials, and developments. The market is transforming with many technological advancements through product innovation and process automation. The key market players are focusing on improving their production capacity which will help them to increase exports.
- In 2021, Amilon Srl entered into a partnership with Eataly to extend the sale of its digital gift cards to companies.
- In 2020, Instagram in Italy officially announced the addition of its new gift card, food order, and fundraiser tools for stories and profiles, which is expected to provide businesses with another way to generate income during the ongoing crisis.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Various Regulatory Trends
4.5 Insights on impact of technology and innovation
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Card Type
5.1.1 Closed-loop card
5.1.2 Open-loop card
5.2 By Consumer type
5.2.1 Retail Consumer
5.2.2 Corporate Consumer
5.3 By spend category
5.3.1 E-commerce & departmental stores
5.3.2 Restaurants & bars
5.3.4 Hypermarket and convenience store
5.3.5 entertainment & gaming
5.3.6 specialty store
5.3.7 Health & wellness
5.4 By distribution channel
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Coop Italia scarl
6.2.2 Esselunga SpA
6.2.3 Apple Inc
6.2.4 Amazon.com Inc
6.2.5 Auchan Group SA
6.2.6 Gruppo Eurospin
6.2.7 Carrefour SA
6.2.8 Crai Secom SpA
6.2.9 Schwarz Beteiligungs GmbH
6.2.10 Selex Gruppo Commerciale SpA*
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The Italy Gift Card and Incentive Card Market market is studied from 2018 - 2027.
What is the growth rate of Italy Gift Card and Incentive Card Market ?
The Italy Gift Card and Incentive Card Market is growing at a CAGR of >7% over the next 5 years.
Who are the key players in Italy Gift Card and Incentive Card Market ?
Coop Italia scarl, Esselunga SpA, Apple Inc, Amazon.com Inc, Auchan Group SA are the major companies operating in Italy Gift Card and Incentive Card Market .