Increased Adoption to Incentivize Employees Working Remotely, Digital Gifting, and Initiatives Undertaken by Governments


DUBLIN, Sept. 19, 2022 /PRNewswire/ — The “Nigeria Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.


Historically, the gift card market in Nigeria has recorded a steady growth with a CAGR of 13.3% during 2017-2021. Nigeria’s gift card industry in the country is expected to grow by 15.6% on annual basis to reach US$1658.7 million in 2022.

The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 11.7% during 2022-2026. The gift card market in the country will increase from US$1435.0 million in 2021 to reach US$2583.9 million by 2026.

Gift card market in 2021 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 2022.

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 2022, 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 2022 and record a strong growth in H2 2022.

Reasons to buy

  • In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2017-2026) for gift cards and incentive cards in Nigeria.
  • Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
  • Get insights into consumer attitude and behavior in Nigeria: Understand changing consumer attitude and behavior and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
  • Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
  • Distribution channel insights: Understand gift cards sales dynamics by channels – online vs offline and by 1st party vs 3rd party sales.

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 Occasion1. Festivals & Special Celebration Days
    2. Milestone Celebration
    3. Self Use
    4. Other
  • Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics in Nigeria

  • Consumer Purchase Behavior
  • Gift Card Buyer by Age Group
  • Gift Card Buyer by Income Level
  • Gift Card Buyer by Gender

Gift Card Market Size by Corporate Consumer in Nigeria

  • By Functional Attribute
  • By Occasion1. Employee Incentive
    2. Sales Incentive
    3. Consumer Incentive
  • By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Nigeria

  • Food & Beverage
  • Health, Wellness & Beauty
  • Apparel, Footwear & Accessories
  • Books & Media Products
  • Consumer Electronics
  • Restaurants & Bars
  • Toys, Kids, and Babies
  • jewelry
  • Sporting Goods
  • Home & Kitchen Accessories & Appliances
  • travel
  • Entertainment & Gaming
  • Other

Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Nigeria

  • Ecommerce & Department Stores
  • Restaurants & Bars
  • Supermarket, Hypermarket, Convenience Store
  • Entertainment & Gaming
  • Specialty Stores
  • Health & Wellness
  • travel

Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Nigeria

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

For more information about this report visit https://www.researchandmarkets.com/r/fgxs23

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SOURCE Research and Markets

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