According to the latest report by IMARC Group “Colombia Gift Card Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The Colombia gift card market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 16% during 2021-2026.
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:
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Open Loop Gift Card
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Closed Loop Gift Card
Breakup by Business Type:
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Business to Business (B2B)
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Business to Customer (B2C)
Breakup by Application:
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Food & Beverage
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Health, Wellness & Beauty
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Apparel, Footwear & Accessories
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Books & Media Products
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Consumer Electronics
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Hospitality
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Kids Products
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Others
Breakup by End User:
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Retail
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Festival Celebrations
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Special Celebrations
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Self-Use
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Others
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Corporate
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Corporate Gift
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Employee Prize
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Incentive Program
Competitive Landscape with Key Player:
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Amazon.com Inc
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Arturo Calle SAS
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Cencosud SA
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Columbia Sportswear Company
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Gift Card Colombia SAS
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Gifting Owl (Experiences Live Pty Ltd.)
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H&M Hennes & Mauritz Colombia SAS
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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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