Saudi Arabia Gift Card Market Research Report, 2029

The Saudi Arabia gift card market is experiencing significant growth, driven by digital transformation, increasing corporate adoption, and consumer preference for convenience and personalization. Key players include FNP.ae, YouGotaGift, and Carrefour, which have formed strategic partnerships to enhance distribution networks and product offerings. The market is segmented into e-gift cards, physical cards, and incentive cards, with e-gift cards gaining popularity due to their seamless integration with online shopping platforms. These digital alternatives offer instant delivery, flexibility in redemption across various online platforms, and ease of management through smartphones and digital wallets. The Saudi Arabia gift card market is thriving, supported by supportive regulatory changes and a strong consumer preference for digital solutions. The gift card market in Saudi Arabia has experienced significant growth, driven by the shift from cash payments to digital transactions and the increasing adoption of e-gift cards. Key regulatory policies include ensuring secure management and privacy of consumer data, promoting cashless transactions, and encouraging innovation in digital payment solutions. Partnerships between local and international companies, such as PayTabs Group and Mastercard, have further enhanced the market by introducing custom Visa, MasterCard, and debit cards. According to the research report, "Saudi Arabia Gift Cards Market Research Report, 2029," published by Actual Market Research, the Saudi Arabia Gift cards market is anticipated to add to more than USD 4.48 Billion by 2024–29. The Saudi Arabia gift card market is experiencing significant growth, driven by increasing consumer preference for cashless transactions, rising e-commerce activities, and growing demand for personalized and convenient gifting solutions. Key players in this market include major online retailers, offline retailers, supermarkets, hypermarkets, convenience stores, specialty stores, and corporate sales segments. Notable companies such as PayTabs Group, Mastercard, and Panda are making strategic moves to enhance their offerings and expand their market reach. PayTabs Group introduced a new card issuance service, while Mastercard launched a UEFA Champions League-themed prepaid card portfolio. Additionally, partnerships between companies like YOUGotaGift and Panda, as well as eXtra and YouGotaGift, are further driving market growth by providing consumers with seamless and flexible shopping experiences. These developments reflect the broader trend towards digitalization and cashless payments, supported by the Saudi government's Vision 2030 initiative.

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The Saudi Arabia gift card market is segmented by product type, including e-gift cards, physical cards, and incentive cards. E-gift cards are gaining popularity due to their convenience, instant delivery, and ease of use through mobile apps and online platforms. Physical cards remain popular for their tangible appeal and traditional gifting experience. Incentive cards are used by businesses for employee rewards and customer incentives, providing a versatile and cost-effective solution for corporate gifting. The market is also seeing innovation in security features, such as biometric authentication and blockchain technology, to address concerns about fraud and unauthorized use. This diverse product offering ensures that there is a suitable gift card solution for every need and preference, driving the market's growth and adaptability to consumer demands. The distribution segment for gift cards in Saudi Arabia is a well-structured and efficient network, encompassing both traditional and modern channels. Wholesalers and distributors play a pivotal role, accounting for a significant portion of the market share due to their extensive distribution networks and bulk purchasing capabilities. These entities ensure that gift cards are efficiently distributed across various industries, including retail, hospitality, and corporate sectors. Retail stores also contribute to the distribution network, providing a point-of-sale option for businesses and consumers who prefer to purchase gift cards directly. Online marketplaces have gained prominence, offering convenience and a wide selection of gift cards to customers. Platforms like Amazon Saudi Arabia and eBay Saudi Arabia facilitate easy access to customized and standard gift cards, catering to the growing demand for online shopping. Direct sales from manufacturers to end-users are another key distribution channel, particularly for businesses that require specific gift card solutions tailored to their unique needs. The combination of these distribution channels ensures that gift cards are readily available to meet the diverse requirements of the market, supporting the overall growth and efficiency of the gift card industry in Saudi Arabia. The end-user segment for gift cards in Saudi Arabia is diverse, encompassing both individual consumers and businesses. Individual consumers are significant end-users, purchasing gift cards for personal gifting occasions, such as birthdays, holidays, and special events. The convenience and flexibility of gift cards make them a popular choice for those seeking thoughtful and personalized gifts. Businesses also play a crucial role in the gift card market, utilizing them for employee rewards, customer incentives, and promotional activities. Companies leverage gift cards to enhance employee satisfaction, drive customer loyalty, and boost sales. The versatility of gift cards allows businesses to tailor rewards to individual preferences, making them an effective tool for corporate gifting. As consumer preferences shift towards digital solutions, the demand for e-gift cards is rising, supported by the growth of e-commerce and mobile wallet integration. This trend aligns with the broader movement towards contactless transactions and personalized gifting experiences.

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Kripa Shah

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Considered in this report • Geography: Global • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Global Gift Card Market with its value and forecast along with its segments • Region & country wise Gift Card market analysis • Application wise Gift Card distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Card Types • Closed -Loop Card • Open-loop Card

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By Price Range • High • Medium • Low By Sale Channel • Offline • Online By End User • Retail Establishment • Corporate Institution The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.