Belgium Gift Card & Incentive CardCompanies (2024 - 2029)

Belgium Gift Card & Incentive Card Market Companies Summary

Gift cards, or vouchers, are an important marketing tool for many businesses, helping to attract new clients, boost brand recognition and improve sales. They can also serve as an alternative source of funds for purchases within a specific store. The COVID-19 pandemic has significantly impacted the gift card industry in Belgium, with a shift from physical to digital cards due to store closures. Despite these challenges, the gift card industry is expected to show steady growth, particularly in the second half of the year. In response to economic pressures, businesses across various sectors are becoming more creative in their growth strategies, often incorporating gift cards as promotional tools. Industries such as restaurants find gift cards to be a profitable source of instant revenue. The importance of gift cards has fundamentally shifted during the pandemic for these industries in Belgium. Despite a decrease in the overall turnover of the Belgian e-commerce market in 2020, the medium to long-term growth outlook for gift cards remains solid. The corporate sector is also showing increasing interest in gift card services, with providers looking to offer value-added solutions to capture market dominance in this area.