Gift cards are stored-value or prepaid debit cards that are used as an alternative source of money at commercial stores or retailers for gifting or making purchases. The cards are commonly used as gift certificates or vouchers and are issued by retailers or banks to promote business, attract new customers, increase brand awareness and sales. Gift cards are widely used for purchasing and gifting food and beverages, health, wellness and beauty products, apparel and footwear, books, electronics and spas.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The Colombia gift card market is primarily being driven by the widespread adoption of gifting culture for special occasions, such as anniversaries, birthdays and festivals. Moreover, the launch of electronic gift cards (e-cards), 3D printed and smart gift cards is favoring the market growth. In addition to this, the widespread adoption of digital gift cards that can be shared online through smart devices or phones is also contributing to the growth of the market. Other factors, including the rising demand for customized gift cards with varying top-up values, along with the rising expenditure capacities of the consumers, are creating a positive outlook for the market across the country.
Breakup by Card Type:
Open Loop Gift Card
Closed Loop Gift Card
Breakup by Business Type:
Business to Business (B2B)
Business to Customer (B2C)
Breakup by Application:
Food & Beverage
Health, Wellness & Beauty
Apparel, Footwear & Accessories
Books & Media Products
Consumer Electronics
Hospitality
Kids Products
Others
Breakup by End User:
Retail
Festival Celebrations
Special Celebrations
Self-Use
Others
Corporate
Corporate Gift
Employee Prize
Incentive Program
Competitive Landscape with Key Player:
Amazon.com Inc
Arturo Calle SAS
Cencosud SA
Columbia Sportswear Company
Gift Card Colombia SAS
Gifting Owl (Experiences Live Pty Ltd.)
H&M Hennes & Mauritz Colombia SAS
S.A.C.I.Falabella.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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