Italy Gift Card and Incentive Card Market Size (2024 - 2029)

The market size for gift cards in Italy has experienced a muted increase, influenced by the pandemic-driven shift towards digital cash alternatives. This shift has been supported by the growth of e-commerce and rising smartphone adoption in the country. Consumer preferences are evolving, with a notable increase in gift card adoption among the 35-47 age group, despite a significant portion of sales still occurring in-person. The trend towards online purchasing is expected to further enhance the market size of gift cards in Italy, as more consumers seek practical gifting options.

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Market Size of Italy Gift Card and Incentive Card Industry

Italy Gift Card and Incentive Card Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 7.00 %
Market Concentration Medium

Major Players

Italy Gift Card and Incentive Card Market Key players

*Disclaimer: Major Players sorted in no particular order

Italy Gift Card & Incentive Card Market Analysis

The worldwide coronavirus pandemic has also spurred the rise in the use of digital gift cards. The demand for cash alternatives has unexpectedly increased in Italy due to the fear of contracting the coronavirus. In Italy, this has helped the market for digital gift cards grow in some measure during the past several years. As a result, the market for gift cards has had a muted increase in 2020.

Despite the pandemic, e-commerce in Italy kept expanding. In March 2020, there was a 60% rise in internet traffic. Rising smartphone adoption has fueled the country's increase in online commerce. The Italian Trade Agency wants to enable 300 regional SMEs to digitize on Alibaba.com in order to promote online growth even more. In the medium to long term, gift card growth in Italy is anticipated to be supported by the shifting consumer preferences toward online purchasing.

In a Survey taken in Italy where, over 44% of the shoppers preferred gift cards, indicating a significant change in consumer behavior. Interestingly, despite younger millennials and Gen Z still making up the majority of gift card sales, gift card adoption has increased significantly in the 35-47 age group.Regardless of the fact that online gift card sales now make up over 40% of the market, Italians still prefer to purchase goods in-person. In the upcoming years, as more people purchase online and seek out practical gifting options, it is anticipated that the penetration of gift cards will rise.

Italy Gift Card & Incentive Card Industry Segmentation

Gift cards are used as a development technique for promoting businesses, luring new customers, raising brand awareness, lowering fraud, and boosting business sales. A gift card can also be used as an alternative form of payment at a particular store or business store to make purchases of goods or services. The Italy Gift Card and Incentive Card Market are segmented based on the card type (Closed-loop card, open-loop card), Consumer type (Retail Consumer, Corporate Consumer), by spend category (E-commerce & departmental stores, restaurants & bars, supermarket, hypermarket and convenience store, entertainment & gaming, specialty store, Health & wellness, travel, others) and by distribution channel (online, offline).

By Card Type
Closed-loop card
Open-loop card
By Consumer type
Retail Consumer
Corporate Consumer
By spend category
E-commerce & departmental stores
Restaurants & bars
Supermarket
Hypermarket and convenience store
entertainment & gaming
specialty store
Health & wellness
travel
Others
By distribution channel
Online
Offline
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Italy Gift Card and Incentive Card Market Size Summary

The Italy gift card and incentive card market has experienced a notable transformation, particularly influenced by the global pandemic, which accelerated the adoption of digital gift cards as consumers sought cash alternatives due to health concerns. This shift has led to a gradual increase in the market, despite the initial muted growth in 2020. The expansion of e-commerce in Italy, driven by increased internet traffic and smartphone adoption, has further supported the market's growth. Initiatives by the Italian Trade Agency to digitize regional SMEs on platforms like Alibaba.com are expected to bolster online commerce, aligning with changing consumer preferences for online purchasing. The market has seen a significant shift in consumer behavior, with a growing preference for gift cards among shoppers, particularly in the 35-47 age group, despite younger demographics still dominating sales. As online shopping continues to rise, the penetration of gift cards is anticipated to increase, offering practical gifting options.

The market landscape is characterized by technological advancements and product innovation, with key players focusing on enhancing production capacity to boost exports. Companies like Coop Italia scarl, Esselunga SpA, Apple Inc, Amazon.com Inc, and Auchan Group SA are prominent in this space. The integration of modern technologies, such as the Gyft app, has streamlined the gift card experience for smartphone users, contributing to market growth. Partnerships, like that of Amilon Srl with Eataly, and new tools introduced by platforms like Instagram, are further expanding the market's reach and offering businesses innovative ways to generate income. These developments underscore the dynamic nature of the Italy gift card and incentive card market, poised for continued growth in the coming years.

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Italy Gift Card and Incentive Card Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Insights on Various Regulatory Trends

    5. 1.5 Insights on impact of technology and innovation

    6. 1.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitutes

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Card Type

      1. 2.1.1 Closed-loop card

      2. 2.1.2 Open-loop card

    2. 2.2 By Consumer type

      1. 2.2.1 Retail Consumer

      2. 2.2.2 Corporate Consumer

    3. 2.3 By spend category

      1. 2.3.1 E-commerce & departmental stores

      2. 2.3.2 Restaurants & bars

      3. 2.3.3 Supermarket

      4. 2.3.4 Hypermarket and convenience store

      5. 2.3.5 entertainment & gaming

      6. 2.3.6 specialty store

      7. 2.3.7 Health & wellness

      8. 2.3.8 travel

      9. 2.3.9 Others

    4. 2.4 By distribution channel

      1. 2.4.1 Online

      2. 2.4.2 Offline

Italy Gift Card and Incentive Card Market Size FAQs

The Italy Gift Card and Incentive Card Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)

Coop Italia scarl, Esselunga SpA, Apple Inc, Amazon.com Inc and Auchan Group SA are the major companies operating in the Italy Gift Card and Incentive Card Market.

Italy Gift Card and Incentive Card Report Snapshots

Italy Gift Card and Incentive Card Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)