Argentina Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast; Spend Analysis by Digital / e-Gift Card, Retail and Corporate Consumers, Top Retailers, Distribution Channel, Occasions, Retail Sectors, Function (Open Loop, Closed Loop), City Type, and Demographics – Q2 2024 Update

According to PayNXT360, gift card industry in the country is expected to grow by 11.1% on annual basis to reach US$1.1 billion in 2024.

The gift card industry in Argentina will continue to grow over the forecast period and is expected to record a CAGR of 9.3% during 2024-2028. Gift card market in the country will increase from US$1.0 billion in 2023 to reach US$1.5 billion by 2028.

Argentina's gift card sector is advancing with innovative offerings from retailers like Cencosud, expanding corporate programs, and strengthened by regulatory measures that ensure consumer protection, transparency, and security. These developments reflect a commitment to improving both customer and employee experiences in the gift card market.

Key Developments in the Gift Card Sector in Argentina

Product Launches and Innovations: Cencosud's Gift Card Innovations: Cencosud, a major retail group in Argentina, has introduced new gift card options across its supermarket chains, including Easy and Disco. These innovations focus on enhancing customer experience by providing more versatile and accessible gift card solutions.

Corporate Gift Card Programs: Several companies in Argentina have begun implementing corporate gift card programs as part of employee incentive and rewards strategies. These programs aim to enhance employee engagement and satisfaction, reflecting a broader trend in corporate gifting.

Strategic Partnerships

Cencosud Collaborations: Cencosud, a leading retail group, has formed partnerships to enhance its gift card distribution across its supermarket chains, including Easy and Disco. These collaborations aim to provide customers with more accessible and versatile gift card options.

Regulatory Changes

No Expiration Dates: One of the notable features of Argentina's gift card regulations is the absence of expiration dates. This policy allows consumers to redeem their gift cards at their convenience, enhancing consumer protection.

Fee Restrictions: The regulations prohibit charging additional fees for card issuance, maintenance, or inactivity. This ensures a straightforward and transparent experience for consumers, as they are not burdened with hidden costs.

Transparency Requirements: Retailers and businesses are encouraged to provide clear information regarding the card's value, any potential fees, and redemption policies. This transparency is aimed at protecting consumers and ensuring they are well-informed about the terms of their gift cards.

Consumer Protection: The regulations empower consumers to seek recourse through consumer protection bodies or legal channels if they encounter issues with gift cards. This framework is designed to safeguard consumer rights and ensure accountability among businesses.

Tax Implications: Both issuers and recipients need to be aware of the tax implications associated with gift card transactions, as these may vary based on the type of gift card and the nature of the transaction.

Anti-Fraud Measures: Regulations encourage businesses to implement anti-fraud measures to prevent unauthorized activations or misuse of gift cards, enhancing security for consumers.

Gift card market in 2023 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.

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. • Comprehensive comprehension 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 Argentina.

• 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 Argentina: 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. Total Spend on Gifts in Argentina

• 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 Argentina

• 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 Argentina

• Retail Consumer

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

Digital Gift Card Market Size in Argentina

• 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 Argentina

• By Functional Attribute

• By Occasion

1. Festivals & Special Celebration Days

2. Milestone Celebration

3. Self-Use

4. Other

• Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics in Argentina

• 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 Argentina

• By Functional Attribute

• By Occasion

1. Employee Incentive

2. Sales Incentive

3. Consumer Incentive

• By Scale of Business

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

• 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 Argentina

• 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 Argentina

• Gift Card Online Sales

• Gift Card Offline Sales

• 1st Party Sales

• 3rd Party Sales

• Sales Uplift

Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:

Cencosud SA

Carrefour SA

Coto CICSA

MercadoLibre Inc

Importadora y Exportadora de la Patagonia SA

Wal-Mart Stores Inc

Garbarino SA

:Cencosud SA

Carrefour SA

Coto CICSA

MercadoLibre Inc

Importadora y Exportadora de la Patagonia SA

Wal-Mart Stores Inc

Garbarino SA