Market Trends

Brazil's Gift Card Market Flourishes: A Significant Growth Trajectory Projected for 2024-2028

DUBLIN, April 1, 2024 – The latest update on the "Brazil Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update" has been introduced to ResearchAndMarkets.com's extensive collection of reports, offering a comprehensive look at the soaring Brazilian market.

Market Projections and Trends

The gift card industry in Brazil is rapidly reaching new heights. Valued at US$7.2 billion in 2024, the market is riding a thriving growth wave that is set to continue over the next four years. Stakeholders can expect an 8.9% Compound Annual Growth Rate (CAGR) during the 2024-2028 forecast period. From US$6.5 billion in 2023, this burgeoning market signals a leap towards an impressive US$10.1 billion by the end of 2028.

This remarkable growth is attributed to the escalating acceptance and integration of gift cards as a preferred payment mechanism. Service providers in the region are not missing a beat, as they strategically partner and introduce innovative solutions, broadening the accessibility and versatility of their product offerings. Such proactive market maneuvers are expected to mold and spur the competitive vista of the Brazilian gift card market substantially.

Strategic Partnerships and Investment Influx

Givex Brasil is exemplary in leveraging these strategic corporate maneuvers. The company has demonstrated robust growth hinged on product innovation and strategic partnerships throughout 2023. Various collaborations have been essential for launching new offerings and broadening distribution channels. These steps are in line with the company's broader mission of continually modernizing the Brazilian gift card landscape.

Celebrated Collaborations

• Givex Brasil notably partnered with Vivara, a prestigious jewelry brand, to introduce the brand's e-gift solution on its GivexHub platform.
• The firm also crafted a partnership with WeWork Brasil to fine-tune its gift card program, enabling the distribution of digital gift cards on GivexHub.
• Moreover, Givex Brasil cemented ties with one of the leading hospitality chains, expanding its network by over 500 locations.
• In a groundbreaking deal with iFood, Givex Brasil's sales through GivexHub blasted past BRL 1.5 billion.

After rocketing to BRL 14 billion in transaction value in 2023, Givex Brasil has not slowed down. It's strategically poised to launch more products and enter further collaborations in 2024, underscoring a relentless drive to innovate within the sector.

International Investment Perspectives

Global providers eye the Brazilian gift card market with considerable interest. InComm Payments, from the United States and recognized as a global leader, bolstered its investment in Brazil last year. This expansion includes establishing an IT hub aimed at advancing software development and boosting quality assurance automation.

Brazil has emerged as a pivotal market for InComm Payments over the past decade, with a sturdy banking sector and burgeoning middle class. The company anticipates sustained growth across the fields of retail, financial services, and mobile payments. Noteworthy is InComm Payments’ acquisition of the gift card payment processor Todo Cartoes in 2020, marking its commitment to the region's market.

InComm Payments' continued investment is anticipated to invigorate Brazil’s gift card industry, fostering a competitive environment and stimulating market growth across the next three to four years.

In-Depth Report Insights

This comprehensive report offers a data-centric analysis of the gift card market, shedding light on prospective opportunities and associated market risks across various retail categories. With over 75 Key Performance Indicators (KPIs) at the country level, the report provides an exhaustive understanding of the market's dynamics, size, and forecasts.

Report Overview:

Total Spend on Gifts in Brazil:

• Consumer Segments (Retail and Corporate)
• Product Categories (13 Segments)
• 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

Market Size by Consumer Segment:

• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Shape in Brazil:

• Retail Consumer Segments
• Purchase Occasions (Retail and Corporate)
• Various Company Sizes

Gift Card Market Size by Retail Consumer:

• Functional Attributes
• Occasions
• Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics:

• Purchase Behaviour
• Age Groups
• Income Levels
• Gender Dynamics

Gift Card Market Size by Corporate Consumers:

• Functional Attributes
• Occasions
• Business Scale

Gift Spend by Product Categories:

• Extensive range including Food & Beverage, Apparel, and Entertainment, among others

Gift Card Spend by Retail Sector:

• Various sectors including E-commerce & Department Stores, Supermarkets, and Specialty Stores

Gift Card Spend by Distribution Channel:

• Online and Offline Sales
• 1st and 3rd Party Sales
• Sales Uplift

For a deeper dive into this compelling topic, the full report is available for exploration at Research and Markets.

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SOURCE: Research and Markets

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