Business Wire
Date: June 05, 2020

DUBLIN–(BUSINESS WIRE)–The "Taiwan Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Market Size and Forecast (2015-2024) – Covid-19 Update Q2 2020" report has been added to ResearchAndMarkets.com's offering.

“Taiwan Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Market Size and Forecast (2015-2024) – Covid-19 Update Q2 2020”

This report details the impact of economic slowdown along with change in business and consumer sentiment due to disruption caused by COVID-19 outbreak on gift card industry in Taiwan.

Historically, the gift card market in Taiwan has recorded a steady growth with a CAGR of 11.7% during 2015-2019. However, according to the Q2 2020 Global Gift Card Survey, gift card market in Taiwan is expected to be impacted across retail and corporate segments due to disruption caused by COVID-19 outbreak.

Though growth of gift card industry will be impacted due to pandemic, there are certain segments such as self-use which will gain significant market share. Adoption of e-Gift cards is also expected to increase significantly over the next 4-6 quarters. There are interesting trends emerging across various segments, which are expected to fundamentally reshape gift card industry dynamics.

Despite near-term challenges, medium to long term growth story of gift cards in Taiwan remains strong. The gift card industry in Taiwan will continue to grow over the forecast period and is expected to record a CAGR of 9.7% during 2020-2024. The gift card market in the country will increase from US$ 1,859.4 million in 2019 to reach US$ 2,844.4 million by 2024.    [FULL  STORY]