Thailand $4.5 Bn Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics, 2020-2024 & 2025-2029 - ResearchAndMarkets.com

The "Thailand Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2025 Update" report has been added to ResearchAndMarkets.com's offering.

The gift card market in Thailand is expected to grow by 12.5% on annual basis to reach US$2.96 billion in 2025. The gift card market in the country experienced robust growth during 2020-2024, achieving a CAGR of 14.3%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 11.0% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 2.63 billion to approximately USD 4.50 billion.

With over 100+ KPIs at the country level, this report provides a comprehensive understanding of gift card market dynamics. It offers a comprehensive analysis of market dynamics in the gift card sector, segmented by digital and e-gift card sales, distribution channels, key occasions, demographic trends, and market share statistics of leading retailers. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

The Thai gift card market is transforming significantly, with digital gift cards gaining traction as consumers prioritize convenience and speed. The rise of e-commerce and mobile payment adoption is fueling this shift, with major retailers expanding their digital offerings. Additionally, the increased use of gift cards in corporate incentive programs strengthens demand as businesses seek efficient and flexible employee reward mechanisms.

The market is expected to experience sustained growth, driven by ongoing retail partnerships and product diversification. As more consumers opt for experience-based gift cards, retailers and service providers will focus on broadening their offerings. Regulatory developments and evolving consumer preferences will shape the competitive landscape, requiring businesses to adapt and innovate. Companies that invest in digital solutions, personalized gifting options, and strategic collaborations will be well-positioned to capitalize on the market's expansion.

Competitive Landscape of the Thailand Gift Card Market

The Thai gift card market is rapidly expanding, fueled by the increasing adoption of digital payments, corporate incentives, and evolving consumer preferences. Established retailers such as 7-Eleven, Tesco, and Big C Supercenter dominate the space, while new entrants, including global platforms such as Amazon and Apple, are intensifying competition. Strategic partnerships and technological advancements are crucial in shaping the market, making gift cards more versatile and widely accepted.

The market is expected to grow further, with companies focusing on personalized and experience-based gift card options. Regulatory changes emphasizing transparency and fraud prevention will influence operational strategies, requiring businesses to adapt to new compliance measures. Companies that invest in digital transformation, strategic collaborations, and consumer-centric solutions will be well-positioned to leverage the growth opportunities in Thailand's evolving gift card industry.

Current Market Dynamics

• The Thai gift card market expansion is driven by factors such as the proliferation of e-commerce, increased digital adoption, and integrating gift cards into corporate incentive programs.
• The market is witnessing a significant shift towards digital gift cards, propelled by the widespread use of smartphones and the demand for contactless payment solutions. The COVID-19 pandemic has further accelerated this trend as consumers seek convenient and safe gifting options.

Key Players and Market Share

• Prominent players in the Thai gift card market include major retail chains such as 7-Eleven, Tesco, and Big C Supercenter. These established retailers have a significant presence in the market and offer both physical and digital gift card solutions.
• In addition to these established players, new entrants are leveraging digital platforms to offer innovative gift card solutions. For instance, global companies such as Amazon and Apple have expanded their digital gift card offerings in Thailand, contributing to the market's evolution.

Accelerated Adoption of Digital Gift Cards

• The Thai gift card market is experiencing a notable shift from physical to digital gift cards. This transition is evident as consumers increasingly prefer e-gift cards for convenience and immediate delivery. For instance, major retailers in Thailand have expanded their digital gift card offerings to cater to this growing demand.
• The proliferation of e-commerce and the widespread use of smartphones have made digital transactions more accessible to Thai consumers. The COVID-19 pandemic further accelerated this shift, as individuals sought contactless gifting options during periods of restricted movement. Additionally, the convenience of purchasing and sending digital gift cards online has contributed to their rising popularity.

Expansion of Corporate Incentive Programs Utilizing Gift Cards

• Thai companies are increasingly incorporating gift cards into their corporate incentive programs as tools to reward and motivate employees. This approach offers flexibility and can be tailored to individual preferences, enhancing employee satisfaction.
• Businesses recognize the efficiency of gift cards in streamlining the distribution of rewards, especially within large organizations. The ability to customize gift cards for various merchants allows companies to align incentives with employee preferences, thereby improving engagement and retention.
• The integration of gift cards into corporate incentive strategies is anticipated to grow, contributing to the overall expansion of the gift card market in Thailand. As companies continue to seek effective methods to motivate their workforce, the demand for versatile and personalized gift card solutions is expected to rise.

Growth Through Retail Partnerships and Diversification

• Retailers in Thailand are forming partnerships to offer a wider range of gift card options, including those for experiences such as dining and travel. This diversification meets consumers' evolving preferences, seeking more personalized gifting solutions.
• The desire to capture a broader customer base and provide tailored gifting options motivates retailers to collaborate and expand their gift card portfolios. By offering gift cards with various experiences, retailers can appeal to consumers looking for unique and personalized gifts.
• These retail partnerships and the diversification of gift card offerings are expected to drive further growth in the Thai gift card market. As consumers continue seeking personalized and versatile gifting options, retailers that provide a broad range of gift card choices will likely gain a competitive advantage.

Recent Launches and Partnerships

• In recent years, there has been a trend of partnerships between retailers and digital payment providers to enhance gift card offerings. For instance, leading retailers have expanded their gift card portfolios to feature more options beyond traditional products, including lifestyle experiences, to address diverse consumer needs and enhance the attractiveness of gift cards.
• While the available sources do not detail specific recent mergers and acquisitions in the Thai market, the global trend indicates a move towards consolidation to leverage synergies in the gift card sector. This includes strategic collaborations between retailers and fintech companies to offer more versatile and personalized gift card options.

Anticipated Market Evolution (Next 2-4 Years)

• Over the next 2-4 years, the competitive landscape of the Thai gift card market is expected to become more dynamic. With the continuous growth of e-commerce and digital payments, established players and new entrants will likely innovate their gift card offerings.
• Companies may focus on personalized and versatile gift card solutions to meet evolving consumer preferences. Additionally, strategic partnerships and potential mergers could reshape the market, enhancing competitiveness and expanding market reach.

Regulatory Changes

• In the past year, the Thai government has introduced regulations aimed at enhancing consumer protection in the financial services sector, including gift cards. These regulations focus on transparency in terms and conditions and measures to prevent fraud and misuse.
• Market participants must comply with these regulatory changes to maintain consumer trust and avoid legal challenges. Companies must stay abreast of regulatory developments to ensure adherence and mitigate potential risks.

Key Attributes:

Companies Featured

• 7-Eleven
• Tesco Hypermarket
• Big C Supercenter
• Central
• HomePro
• Gourmet Market
• Siam Makro
• Big C Extra
• Global house
• Tops market

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