The “Nigeria Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Market Size and Forecast (2016-2025)” report has been released.

According to the Q2 2021 Global Gift Card Survey, gift card industry in the country is expected to grow by 17.0% on annual basis to reach US$ 1423.9 million in 2021. Historically, the gift card market in Nigeria has recorded a steady growth with a CAGR of 14.3% during 2016-2020.

Gift card market in 2020 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth. Though the gift card market was impacted due to COVID-19, the market is expected to bounce back in the coming quarters, especially in H1 2021.

Gift card industry in Nigeria has done well to withstand the impact of economic slowdown along with negative business and consumer sentiment due to disruption caused by Covid-19 outbreak.

Despite near-term challenges in 2021, medium to long term growth story of gift cards in Nigeria remains strong. The gift card industry in Nigeria is expected to grow steadily in H1 2021 and record a strong growth in H2 2021.

The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 13.3% during 2021-2025. The gift card market in the country will increase from US$ 1216.7 million in 2020 to reach US$ 2343.0 million by 2025.

This report provides a detailed data centric analysis of gift cards and corporate incentive cards market along with consumer behaviour and retail spend dynamics in Nigeria. With over 200 KPIs at country level, this report provides comprehensive understanding of gift and incentive card market dynamics.

Scope

Total Spend on Gifts in Nigeria

- 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 in Nigeria

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 in Nigeria

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

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

By Functional Attribute
- By Occasion
- Festivals & Special Celebration Days
- Milestone Celebration
- Self-Use
- Other
- Value by Purchase Channel
- Gift Card Spend by Consumer Behavior and Demographics in Nigeria

Consumer Purchase Behaviour
- Gift Card Buyer by Age Group
- Gift Card Buyer by Income Level
- Gift Card Buyer by Gender

Continue reading at https://mnews.com.ng/2021/11/26/nigeria-gift-card-and-incentive-card-market-report-2021-q2-2021-update/