South Africa Gift Card and Incentive Card Market Report 2024: A $1.9 Billion Market by 2028, Recording 10% CAGR During 2024-2028 [Yahoo! Finance]
SHOPRITE HLDGS LTD S/ADR (SRGHY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
The gift card industry in South Africa is expected to record a CAGR of 10% during 2024-2028, increasing from US$1.2 billion in 2023 to reach US$1.9 billion by 2028. The gift card sector in South Africa is rapidly evolving, marked by key innovations from major retailers like Shoprite, Pick n Pay, and Woolworths, strategic partnerships such as InComm's collaboration with Flash/Pepkor and Spar's corporate gift solutions, and significant M&A activity with Card Factory's acquisition of SA Greetings. This dynamic landscape reflects growing consumer demand for digital and versatile gifting options and highlights the sector's expansion and modernization. Key Developments in the Gift Card Sector in South Africa Product Launches and Innovations Shoprite Expands Virtual Gift Card Offerings: Shoprite Holdings Ltd. expanded its virtual gift card service, making it easier for people in South Africa to purchase and send digital gift cards. The cards can be redeemed at Shoprite, Checkers, an
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