LAMEA Digital Gift Card Market Size, Share & Industry Trends Analysis Report By Functional Attribute (Closed-loop Card and Open-loop Card), By End User (Retail and Corporate), By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Digital Gift Card Market would witness market growth of 20.0% CAGR during the forecast period (2022-2028).
Digital gift cards can increase sales. However, the main factor that makes gift cards a sales booster is that they also help companies produce new leads by drawing in new clients by enticing new eyes with fresh gift certificates.
Customers often buy digital gift cards for their loved ones. The likelihood that gift card recipients may visit your business for the first time increases, which would bring in more consumers. You can grow your company and acquire a lot of new users, especially during the Christmas season.
Selling digital gift cards has the benefit of removing the need for a physical presence in front of clients. You can sell gift cards at any moment since you may sell them straight on your website. Additionally, since digital gift certificates are sent through emails and other messaging services, your consumers may get them while lounging at home or traveling. Customers just need to purchase the gift cards, download them in pdf format, and then send them to the receiver by email or a messaging app.
The travel and tourism industry directly contributed AED 68.5 billion (USD 18.7 billion), or 5.2% of the UAE's GDP, to the country's GDP in 2016. From 2017 to 2027, it is anticipated to increase by 5.1% per year, reaching AED 116.1 billion (USD 31.6 billion), or 5.4% of the country's GDP. To improve the tourism portfolio, the UAE Cabinet authorized the establishment of the Emirates Tourism Council in January 2021.
The Brazil market dominated the LAMEA Digital Gift Card Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17,518.7 Million by 2028.The Argentina market is experiencing a CAGR of 20.6% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 19.6% during (2022 - 2028).
Based on Functional Attribute, the market is segmented into Closed-loop Card and Open-loop Card. Based on End User, the market is segmented into Retail and Corporate. Based on Application, the market is segmented into Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Digital Gift Card Market is Predict to reach $724.3 Billion by 2028, at a CAGR of 14.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Fiserv, Inc., PayPal Holdings, Inc., Walmart, Inc., Amazon.com, Inc., Target Corporation (Target Brands, Inc.), Loop Commerce, Inc (Synchrony Financial), InComm Payments, and Blackhawk Network Holdings, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Functional Attribute
- Closed-loop Card
- Open-loop Card
By End User
- Consumer Goods
- Health & Wellness
- Restaurants & Bars
- Travel & Tourism
- Media & Entertainment
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Apple, Inc.
- Fiserv, Inc.
- PayPal Holdings, Inc.
- Walmart, Inc.
- Amazon.com, Inc.
- Target Corporation (Target Brands, Inc.)
- Loop Commerce, Inc (Synchrony Financial)
- InComm Payments
- Blackhawk Network Holdings, Inc.
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