Saudi Arabia Gift Card & Incentive Card Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Gift Card & Incentive Card Market is estimated to reach USD XX Billion by 2033 with a CAGR of 7.3%.
The report includes an in-depth analysis of the Saudi Arabia Gift Card & Incentive Card Market, including market size and trends, product mix, applications, and supplier analysis. Prepaid cards with a predetermined cash value that can be used to make purchases at participating merchants or service providers are known as gift cards or incentive cards. They offer simplicity and flexibility in presenting by letting recipients select the goods or services they want. Businesses, on the other hand, utilise incentive cards as a tool to recognise and honour people or staff members for their accomplishments or commitment.
- September 2021: With the addition of ticketing provider AXS as its first third-party customer, Amazon One has grown beyond retail. Subsequently, Amazon One became accessible on AXS's mobile ticketing pedestals, enabling attendees of Red Rocks Amphitheatre events worldwide, including Saudi Arabia, to enter with just their palm.
- August 2021: A collaborative alliance between Hub Engage and Tango Card has been created to offer Gift Card Incentives to businesses looking to improve employee rewards and engagement. With the help of this partnership, the company's current and potential clients will have access to an improved platform for employee communications as well as the ability to conveniently and automatically deliver a larger catalogue of gift cards throughout the Gulf, including Saudi Arabia.
Market Opportunities and Challenges
Saudi Arabia Gift Card & Incentive Card Market Opportunities
- Personalisation and Customisation: Presenting gift card alternatives that are both personalised and customisable might draw in customers searching for distinctive ways to give gifts. To accommodate a range of consumer preferences, industry participants should investigate solutions including themed cards, branded designs, or personalised messages.
- Connectivity with Mobile Wallets and Apps: By integrating gift and incentive cards with mobile wallet platforms and applications, businesses may increase their consumer accessibility and convenience. Notifications and balance tracking are only two more services that this integration may offer.
Increase in the E-Commerce market in Saudi Arabia: The expansion of the gift card market in Saudi Arabia is primarily fueled by the thriving e-commerce sector. The surge in online shopping, driven by prolonged lockdowns and increased internet and smartphone penetration, especially among the younger generation, has significantly contributed to this growth. The preference for a mobile-first approach and the availability of diverse online buying options from various e-commerce platforms are key factors propelling the digital gift card segment and the broader gift cards industry in Saudi Arabia.
Saudi Arabia Gift Card & Incentive Card Market Challenges
- Restricted Knowledge and Perception: Certain customers might possess incomplete knowledge or erroneous beliefs regarding reward and gift cards, considering them as impersonal or having limited use. These obstacles can be addressed by informing customers about the advantages and adaptability of these cards.
- Regulatory Challenges: There are rules and compliance obligations pertaining to the gift card and incentive card business. Industry participants may face difficulties in adhering to these regulations, which include things like expiration dates and terms and conditions that are transparent.
Market Competitive Landscape
Along with a few additional local competitors, the Saudi Arabian gift card and incentive card market is characterised by players that are somewhat consolidated. It may be inferred that the market is fairly concentrated, with a considerable share being occupied by new firms, even if the main players account for a significant portion of the market. The major key players in the Saudi Arabia Gift Card & Incentive Card Market are: Alyce, Amazon, Givingli, Ininal, One4all, Qwikcliver, Riskified, Swile, Tango Card, Transcard, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Consumer, By Product, By Distribution Channel
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| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region
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| Companies Covered | Alyce, Amazon, Givingli, Ininal, One4all, Qwikcliver, Riskified, Swile, Tango Card, Transcard, Others
|
COVID-19 Impact on Saudi Arabia Gift Card & Incentive Card Market
The market for gift cards and incentive cards in Saudi Arabia has been significantly impacted by the Covid-19 outbreak. Changes in consumer behaviour, lower consumer spending, and temporary store closures have all had an impact on the market. Nevertheless, as consumers looked for contactless giving choices amid lockdowns and social distancing measures, the market has also seen a rise in the usage of e-gift cards and digital solutions.
Key Target Audience
- Consumers
- Corporate Organizations
- Financial Institutions
- Gift Card Platforms and Service Providers
- Investors and Financial Analysts
- Marketing Agencies
- Retailers and Merchants
- Others
Our in-depth analysis of the Saudi Arabia Gift Card & Incentive Card Market includes the following segments:
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By Consumer: |
Corporate
Individual
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By Product: |
E-Gift Card
Physical Card
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By Distribution Channel: |
Offline
Online
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Key Topics Covered in the Report
- Saudi Arabia Gift Card & Incentive Card Market Size (FY’2023-FY’2033)
- Overview of Saudi Arabia Gift Card & Incentive Card Market
- Segmentation of Saudi Arabia Gift Card & Incentive Card Market By Consumer (Corporate, Individual)
- Segmentation of Saudi Arabia Gift Card & Incentive Card Market By Product (E-Gift Card, Physical Card)
- Segmentation of Saudi Arabia Gift Card & Incentive Card Market By Distribution Channel (Offline, Online)
- Statistical Snap of Saudi Arabia Gift Card & Incentive Card Market
- Expansion Analysis of Saudi Arabia Gift Card & Incentive Card Market
- Problems and Obstacles in Saudi Arabia Gift Card & Incentive Card Market
- Competitive Landscape in the Saudi Arabia Gift Card & Incentive Card Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Gift Card & Incentive Card Market
- Details on Current Investment in Saudi Arabia Gift Card & Incentive Card Market
- Competitive Analysis of Saudi Arabia Gift Card & Incentive Card Market
- Prominent Players in the Saudi Arabia Gift Card & Incentive Card Market
- SWOT Analysis of Saudi Arabia Gift Card & Incentive Card Market
- Saudi Arabia Gift Card & Incentive Card Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Gift Card & Incentive Card Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Gift Card & Incentive Card Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Gift Card & Incentive Card Market
7. Saudi Arabia Gift Card & Incentive Card Market, By Consumer (USD Million)
7.1. Saudi Arabia Gift Card & Incentive Card Market Value Share and Forecast, By Consumer, 2023-2033
7.2. Corporate
7.3. Individual
8. Saudi Arabia Gift Card & Incentive Card Market, By Product (USD Million)
8.1. Saudi Arabia Gift Card & Incentive Card Market Value Share and Forecast, By Product, 2023-2033
8.2. E-Gift Card
8.3. Physical Card
9. Saudi Arabia Gift Card & Incentive Card Market, By Distribution Channel (USD Million)
9.1. Saudi Arabia Gift Card & Incentive Card Market Value Share and Forecast, By Distribution Channel, 2023-2033
9.2. Offline
9.3. Online
10. Saudi Arabia Gift Card & Incentive Card Market Forecast, 2019-2033 (USD Million)
10.1. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share
11. Saudi Arabia Gift Card & Incentive Card Market, By Consumer, 2019-2033 (USD Million)
11.1. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Consumer (2019-2026)
11.2. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Consumer (2027-2033)
12. Saudi Arabia Gift Card & Incentive Card Market, By Product, 2019-2033 (USD Million)
12.1. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Product (2019-2026)
12.2. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Product (2027-2033)
13. Saudi Arabia Gift Card & Incentive Card Market, By Distribution Channel, 2019-2033 (USD Million)
13.1. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Distribution Channel (2019-2026)
13.2. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Distribution Channel (2027-2033)
14. Saudi Arabia Gift Card & Incentive Card Market, By Region, 2019-2033 (USD Million)
14.1. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Region (2019-2026)
14.2. Saudi Arabia Gift Card & Incentive Card Market Size and Market Share By Region (2027-2033)
14.3. Eastern Region
14.4. Northern Region
14.5. Southern Region
14.6. Western Region
15. Company Profile
15.1. Alyce
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Amazon
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Givingli
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Ininal
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. One4all
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Qwikcliver
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Riskified
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Tango Card
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Transcard
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
