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DUBLIN--(BUSINESS WIRE)--The "Thailand Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook): Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions, and Demographics - Jan 2021 Update" report has been added to ResearchAndMarkets.com's offering. Thailand card market is expected to grow by 16.1% on annual basis to reach US$ 1795.4 million in 2021. Despite near-term challenges in 2021, medium to long term growth story of gift cards in Thailand remains strong. The gift card industry in Thailand is expected to grow steadily in H1 2021 and record a strong growth in H2 2021. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 14.2% during 2021-2025. The gift card market in the country will increase from US$ 1546.1 million in 2020 to reach US$ 3053.8 million by 2025. The gift card market has been impacted across retail and corporate segments due to the pandemic in 2020. Despite these challenges, in the coming quarters, the market for gift card is expected to grow, as people prefer alternative gifting solutions such as gift cards. Demand for e-gift cards is showing strong growth due to wide acceptance of the digital ecosystem which is attracting consumers towards e-gift cards. E-commerce market in Thailand has seen continued growth in the past few years due to a large young population, high internet and smartphone penetration as well as rise in popularity of online payments. Though the pandemic had an adverse impact on the economy, e-commerce growth has accelerated. In these unprecedented times, retailers also adopted e-commerce platforms to reach to a greater audience. Gift card issuers are targeting major festivals to offer specific gift cards to lure customers. The trend has become more prominent in the Asia-Pacific region including Thailand in the recent years, primarily due to the rising internet and smartphone penetration and a large young population. The coronavirus outbreak, nationwide shutdown of businesses caused major disruption across various industries. To cope up with the situation, several restaurants and bars in Bangkok have launched prepayment gift vouchers with additional benefits, which could help them fight bankruptcy post the pandemic. Additionally, the hospitality industry has been focusing on offering gift cards to attract customers. For instance, Dusit International, a hotel and property development company offers Dusit Gift Card, redeemable for accommodation, dining and spa services at all of its properties, in Thailand. Gift cards are available in physical and digital form and can be personalized. Also, Marriott Thailand announced to offer gift certificates with 50% bonus for a limited period. Entertainment based gift cards are also gaining popularity in Thailand. Netflix launched prepaid Netflix Cards in various denominations (Bt500, Bt1,000, and Bt1,500 in value) at FamilyMart, 7-Eleven, Tesco Lotus . Scope Total Spend on Gifts in Thailand Gift Card Market Size by KPIs across Consumer Segments in Thailand Gift Card Market Size by Consumer Segment in Thailand Digital Gift Card Market Size in Thailand Gift Card Market Size by Retail Consumer in Thailand Gift Card Spend by Consumer Behavior and Demographics in Thailand Gift Card Market Size by Corporate Consumer in Thailand Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Thailand Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Thailand Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Thailand Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include: For more information about this report visit https://www.researchandmarkets.com/r/l7yx5q

Answer: Thailand Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics Report 2021-2025 - ResearchAndMarkets.com