DUBLIN--(BUSINESS WIRE)--The "Nigeria Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.

The gift card industry in the region is expected to grow by 12.0% on annual basis to reach US$2.1 billion in 2024. The gift card industry in Nigeria will continue to grow over the forecast period and is expected to record a CAGR of 10.2% during 2024-2028. Gift card market in the country will increase from US$1.8 billion in 2023 to reach US$3.0 billion by 2028.

This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.

The Nigerian gift card market is witnessing growth, fueled by the expansion of retailer offerings, the emergence of reselling platforms, and increasing corporate adoption. Retail giants like Jumia and Konga are enhancing their gift card options, allowing customers to purchase gift cards for a variety of popular brands, catering to both online and in-store shopping needs.

Platforms such as Cardtonic have introduced gift card reselling, providing consumers with an alternative option to convert unused or unwanted gift cards into cash, further driving consumer interest. Additionally, Nigerian companies are increasingly leveraging gift cards for corporate gifting to reward employees, incentivize sales teams, and foster customer loyalty, contributing to the growth of the corporate segment.

Strategic partnerships, notably Jumia's collaboration with local brands, are boosting consumer engagement by offering more diverse gifting options. This combination of retail expansion, innovative platforms, and corporate use is helping shape the positive trajectory of the Nigerian gift card market.

Reasons to buy

• Comprehensive understanding of the dynamics of the gift card and incentive card markets: Recognise the opportunities in the market, the main drivers and trends, and the five-year projection for gift and incentive cards in Nigeria.
• Create strategies tailored to the market: To create your gift card strategy, identify growth categories and target particular opportunities across consumer segments and occasions; evaluate important trends and risks unique to your market.
• Learn about the attitudes and behaviours of consumers in Nigeria: Increase ROI by understanding how consumer attitudes and behaviours are evolving. With gift cards, you may obtain comprehensive information about retail spending for both corporate and retail customers.
• Six key performance indicators (KPIs) provide a comprehensive view: the quantity of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
• Distribution channel insights: Recognise the differences in gift card sales across online and offline channels as well as between first-party and third-party sales.

Scope

Total Spend on Gifts in Nigeria

• By Consumer Segment (Retail and Corporate)
• By Product Categories (13 Segments)
• By Retail Sectors (7 Segments)

Gift Card Market Size by KPIs across Consumer Segments in Nigeria

• Gross Load Value
• Transaction Value
• Unused Value
• Average Value Per Transaction
• Transaction Volume
• Average Value of Card Purchased
• Number of Cards

Gift Card Market Size by Consumer Segment in Nigeria

• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size in Nigeria

• By Retail Consumer
• By Retail Purchase Occasion
• By Corporate Consumer
• By Corporate Purchase Occasion
• By Company Size

Gift Card Market Size by Retail Consumer in Nigeria

• By Functional Attribute
• By Occasion
• Festivals & Special Celebration Days
• Milestone Celebration
• Self-Use
• Other
• Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics in Nigeria

• Consumer Purchase Behaviour
• Gift Card Buyer by Age Group
• Gift Card Buyer by Income Level
• Gift Card Buyer by Gender

Gift Card Market Size by Corporate Consumer in Nigeria

• By Functional Attribute
• By Occasion
• Employee Incentive
• Sales Incentive
• Consumer Incentive
• By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Nigeria

• Food & Beverage
• Health, Wellness & Beauty
• Apparel, Footwear & Accessories
• Books & Media Products
• Consumer Electronics
• Restaurants & Bars
• Toys, Kids, and Babies
• Jewelry
• Sporting Goods
• Home & Kitchen Accessories & Appliances
• Travel
• Entertainment & Gaming
• Other

Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Nigeria

• Ecommerce & Department Stores
• Restaurants & Bars
• Supermarket, Hypermarket, Convenience Store
• Entertainment & Gaming
• Specialty Stores
• Health & Wellness
• Travel

Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Nigeria

• Gift Card Online Sales
• Gift Card Offline Sales
• 1st Party Sales
• 3rd Party Sales
• Sales Uplift

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