The "Germany Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

The gift card industry in Germany is on a trajectory of sustained growth, with predictions indicating a significant rise to achieve a market value of US$16.1 billion in 2024, evidencing a 10.9% annual increase.

This upward trend is anticipated to continue, with an expected compound annual growth rate (CAGR) of 8.3% from 2024 through 2028, resulting in a forecasted market size of US$22.2 billion by the end of this period. The industry sees healthy gains both in the retail and corporate sectors, powered by a surge in e-commerce, a shift towards digital gifting, and versatile incentive offerings for remote employees.

Emergence of New Market Entrants and Innovations

The German market has welcomed the introduction of Quest gift cards by Meta, globally expanding their availability following their 2022 United States launch. In Germany, these gift cards come with unlimited validity and permit the transferability of games between virtual reality headsets, marking a noteworthy entrance into the market.

E-commerce as a Growth Lever

The e-commerce sphere within Germany predicts steady acceleration, which will further bolster the gift card sector. Despite a recent slowdown in online consumer spending, attributed to inflationary pressures and reduced non-essential expenditure, expectations point towards a stabilization and resumed upturn in the coming quarters. This recovery is believed to lend appreciable support to the growth of the German gift card industry.

Drivers of the 2023 Market Expansions

The gift card market's expansion throughout 2023 was fuelled by several factors. Technological advancements, the burgeoning e-commerce sector, telecommuting employee incentives, and digital gifting all contributed to growth. Furthermore, sectors such as government, hospitality, and travel have implemented strategies to reinvigorate the market. These multifaceted factors have cultivated a promising landscape for the gift card industry's evolution.

Comprehensive Market Insights and Consumer Trends

The report provides an extensive array of data-driven insights, covering various retail categories and potential market risks and opportunities. It spans an in-depth analysis of consumer spending on gifts, detailing the market breakdown by consumer segments, product and retail sectors, and corporate consumption scales. The study also delves into consumer purchase behavior, demographic details, and gift card usage across numerous retail and corporate applications.

Focused Sectorial Analysis and Predicted Sales Channels Growth

Detailed analysis includes segmentation of gift card spending across diverse industries such as food & beverage, fashion, consumer electronics, and travel, to name a few. Sales channel forecasts present insights into the online and offline dynamics of gift card distribution, providing an understanding of the 1st and 3rd party sales contributions and the overall sales uplift projected for the market.

This comprehensive analysis and forecast of the German gift card and incentive card market underscores a dynamic growth outlook. With a steady increase in gift card adoption amongst consumers and corporate entities alike, the market is set for continued expansion and innovation in the years to come.

Key Attributes:

Companies Featured

• Edeka
• Aldi
• Lidl
• REWE
• Kaufland
• Amazon
• Netto Marken
• Penny
• dm

   

For more information about this report visit https://www.researchandmarkets.com/r/chn00s

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240415465896/en/