Market Trends

Egypt's Gift Card Market Forecasts Impressive Growth Amid E-Commerce Rise and Digitization

DUBLIN, March 29, 2024 /PRNewswire/ -- ResearchAndMarkets.com has recently unveiled the comprehensive market analysis report titled "Egypt Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update". This forward-looking report offers an extensive understanding of the current landscape and future outlook of Egypt's gift card industry.

The Promising Surge in Egypt's Gift Card Industry

The gift card sector in Egypt has seen a bullish trend and is poised for continuous growth. According to the study, there's an anticipated 12.1 percent increase on an annual basis, bringing the market to an impressive US$0.7 billion in 2024. Looking further ahead, the period between 2024 to 2028 expects a steadfast compound annual growth rate (CAGR) of 9.9 percent, with projections of reaching over US$1.0 billion by the end of the forecast period.

The year 2023 was pivotal in driving the expansion within both the retail and corporate segments of the market, promoted by a magnitude of influential factors. These included a robust growth in e-commerce, the adoption of remote working incentivization, a trend towards digital gifting, and reconstructive efforts by the government, as well as the hospitality and travel industries to rejuvenate economic development.

Expansive Analysis and Reasons to Invest in Egypt's Market

Investors and stakeholders can garner an in-depth understanding of the dynamics governing the gift card and incentive card arena in Egypt. The report enlightens readers on the market's potential, defining trends, and pivotal market drivers, offering a five-year forecast (2019-2028) that will surely aid robust decision-making processes.

Creating tailored market-specific strategies becomes far more feasible with the insights and segmentation provided in the report. This analysis helps in identifying burgeoning segments and zeroes in on specific opportunities across consumer segments and occasions, to sculpt gift card strategies with precision; while also assessing market-specific trends and pinpointing potential risks.

Furthermore, the report sheds light on the changing attitudes and behaviors of Egyptian consumers, a treasure trove of information that can bolster return on investment strategies. Detailed insights into retail spend through gift cards — discriminated between retail and corporate consumer bases — deepen understanding of consumer habits.

Measuring Success with Six Essential KPIs

To encapsulate the market dimensions accurately, the report analyzes six key performance indicators (KPIs), providing a 360-degree view of the market's vigor. These KPIs include:

• Number of cards in circulation
• Load value
• Unused value
• Average purchase value
• Average value per transaction
• Value of transactions

These insights are pivotal in assessing the depth of market penetration and consumer engagement with gift card offerings.

Retailer Insights and Consumer Segmentation

The report divulges key insights into gift card sales estimates by significant national retailers, such as:

• Kazyon
• Omar Effendi
• Ragab Sons
• BIM
• Metro Market
• Spinneys
• Kheir Zaman
• RadioShack
• Carrefour Hypermarket (Franchises)

Understanding buying patterns allows for a clearer picture of where gift cards are most frequently distributed and redeemed.

Splits in total spend on gifts in Egypt are also critically analyzed across consumer segments, product categories, and retail sectors. These actionable data points present unparalleled opportunities for businesses to situate their gift card offerings accordingly and maximize their appeal to the right audience at the right time.

Comprehensive Breakdown of Market Sizes and Segments

Going beyond superficial data, the report intensively breaks down the gift card market size across various consumer segments in Egypt. These are categorized as follows:

By Consumer:

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

By Retail Consumer:

• Functional Attribute
• Occasion
• Value by Purchase Channel

By Corporate Consumer:

• Functional Attribute
• Occasion
• Scale of Business

Such detailed classification empowers corporations and retailers to fine-tune their strategies to cater to nuanced market demands effectively.

A Deep Dive into Digital Gift Card Trends

The digital transformation of Egypt's market has not left the gift card sector untouched. The analysis of the digital gift card market size encapsulates various angles:

• By Retail Consumer
• By Corporate Consumer
• By Purchase Occasion (both Retail and Corporate)
• By Company Size

These insights attest to the increasing relevance of digital solutions and the shifting preferences towards virtual gifting experiences.

Behavioral Analysis and Demographic Trends

Understanding the demographic and behavioral nuances is key to tapping the full potential of the market. This report provides an in-depth look into:

• Consumer Purchase Behaviour
• Gift Card Buyers segmented by Age Group
• Income Level
• Gender

Segmentation by demographics enables businesses to envision a recipient's profile with greater clarity, ensuring targeted marketing campaigns and product offerings aligned with consumer expectations and needs.

Corporate Consumption and Gift Spend Analysis

The magnifying glass is placed upon Egypt's corporate consumer behavior, dissecting the gift card market size through lenses such as:

• Functional Attribute
• Occasion
• Scale of Business

Understanding corporate needs and occasions for gift spending can unlock new avenues for B2B gift card programs and incentives.

Additionally, the report examines gift spends by product categories, split by retail and corporate consumers, covering expansive segments from Food & Beverage to Travel, and Entertainment & Gaming to Home & Kitchen Accessories & Appliances, among others.

Gift Card Distribution and Sector Spend Insights

Practical insights into the distribution channels foster strategic comprehension of the dynamics between online and offline sales. The report scrutinizes:

• Gift Card Online Sales
• Gift Card Offline Sales
• 1st Party vs 3rd Party Sales
• Sales Uplift

Identifying the most effective channels of distribution forms the backbone of successful sales strategy adaptations in an evolving market.

In parallel, gift card spends by retail sectors, with distinctions between retail and corporate consumers, offers a transparent view of sectors reaping the most from gift card transactions, thus influencing market positioning strategies moving forward.

Forward Guidance and Strategic Recommendations

For stakeholders seeking to expand their horizons in Egypt's flourishing gift card market, the "Egypt Gift Card and Incentive Card Market Intelligence Report 2024" serves as both a compass and roadmap. It identifies growth parameters, outlines foreseeable risk factors, and steers businesses toward viable segments ripe for development. Navigating through the nuanced Egyptian market landscape, this databook update, based on Q1 2024, solidifies its utility as a keystone resource for competitive edge sharpening and opportunity harvesting.

The consummate projections presented in this report furnish a valuable juxtaposition of current trends against future growth dynamics, providing a well-rounded understanding for decision-makers.

Further Information and Contacts for Inquiries

Those interested in a more profound exploration of the Egyptian gift card and incentive card market can visit Research and Markets' report page for more detailed information. As the world's frontrunner in international market research reports and comprehensive market data, ResearchAndMarkets.com consistently delivers the latest insights on a plethora of international and regional markets, key industries, top-tier companies, emerging products, and contemporary trends.

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In conclusion, the Egypt Gift Card and Incentive Card Market report outlines a compelling narrative for the country's burgeoning gift card market. With in-depth analyses, market forecasts, and clear insights into consumer trends, distributors, and sales performances, this report becomes an indispensable tool for businesses looking to capitalize on these emerging opportunities in Egypt's rapidly evolving economy.

SOURCE: Research and Markets