Market Trends of Italy Gift Card and Incentive Card Industry
This section covers the major market trends shaping the Italy Gift Card & Incentive Card Market according to our research experts:
Increase in Online Shopping is Driving Up Demand for Gift Cards
Over the past few quarters, Italy's internet penetration rate has steadily increased. In Italy, online shopping was done by more than 90% of the population as of October 2021. Due to the widespread use of the internet and the growth of online shopping, digital gift cards are in demand in Italy.
The worldwide coronavirus pandemic has also spurred the rise in the use of digital gift cards. The demand for cash alternatives has unexpectedly increased due to the fear of contracting the coronavirus. This has helped to some extent fuel the expansion of the digital gift card market in Italy over the previous four to eight quarters.
High Rate of Smartphone Adoption
In Italy, Gift cards have evolved to be more creative in light of the quick growth of smartphones. Gift card aficionados and smartphone users may now bundle everything into one simple package thanks to modern technologies and marketing strategies. Gyft is one of the most well-liked options and is available for both iPhone and Android in Itlay. Gift cards can be added by users to the app and used whenever they go shopping. It is anticipated that more of these connections will accelerate market growth.
