Indonesia Gift Card and Incentive Card Market Intelligence Report 2024-2028 Featuring Indomaret, Alfamart, Carrefour, Matahari Department Store, Alfa Midi, Super Indo, Erafone, and Hyperma...
CARREFOUR SA S/ADR (CRRFY)
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Source: Yahoo! Finance
Gift card industry in Indonesia is expected to grow by 10.1% on annual basis to reach US$2.2 billion in 2024. The gift card industry in Indonesia will continue to grow over the forecast period and is expected to record a CAGR of 8.9% during 2024-2028. Gift card market in the country will increase from US$2.0 billion in 2023 to reach US$3.0 billion by 2028. The booming e-commerce market, coupled with improved digital payments infrastructure, will support the growth of the gift card industry in Indonesia over the medium term. To tap into the lucrative growth market, global firms are forging strategic alliances to launch new products in the country. This will further aid the adoption and drive the competitive landscape in 2024. The slowdown in the global economy resulted in some players exiting the Indonesian gift card market in 2023. This is part of the strategy to increase their focus on other core markets to drive growth during the economic downturn. In 2024, however, the recover
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