DUBLIN: The "Latin America Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2025 Update" report has been added to ResearchAndMarkets.com's offering.
The gift card market in Latin America is expected to grow by 11.8% on an annual basis to reach US$16.4 billion in 2025. The gift card market in the region experienced robust growth during 2020-2024, achieving a CAGR of 12.8%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 10.5% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 14.7 billion to approximately USD 24.4 billion.
The Latin American gift card market is evolving rapidly, fueled by fintech innovation, digital payment adoption, and strategic partnerships between retailers and financial service providers. Unlike other regions, Latin America's market is heavily influenced by mobile wallet penetration, government-backed digital payment frameworks, and the expansion of cross-border transactions. Businesses and consumers are embracing digital gift cards for their convenience, security, and ability to cater to a rapidly digitizing economy.
This report provides a detailed data-centric analysis of the gift card sector in Latin America, covering market opportunities and risks across consumer segments (retail and corporate); product categories; retail sectors; and store formats. With over 100+ KPIs at the regional and country level, this report provides a comprehensive understanding of gift card market dynamics.
The Latin American gift card market is witnessing increased competition among fintech firms, established retailers, and digital payment providers, unlike markets in North America and Europe, where prepaid gift cards are driven by e-commerce giants, Latin America's landscape is shaped by mobile-first transactions and regulatory-driven digital payment systems.
Latin America Gift Card and Incentive Card Databook
- Latin America Gift Card and Incentive Card Market Intelligence (Databook)
- Argentina Gift Card and Incentive Card Market Intelligence (Databook)
- Brazil Gift Card and Incentive Card Market Intelligence (Databook)
- Chile Gift Card and Incentive Card Market Intelligence (Databook)
- Colombia Gift Card and Incentive Card Market Intelligence (Databook)
- Mexico Gift Card and Incentive Card Market Intelligence (Databook)
Rise of Digital and E-Gift Cards
- Digital gift cards are becoming dominant across Latin America as consumers shift towards mobile-first payment solutions. Major retailers in Brazil, such as MercadoLibre and Carrefour, have expanded their digital gift card offerings to meet growing consumer demand.
- Mobile commerce platforms increasingly integrate e-gift card functionality, allowing users to purchase, send, and redeem digital vouchers without requiring physical cards. Retailers in Argentina and Chile have introduced instant digital redemption options to cater to e-commerce shoppers.
- The gaming and entertainment sectors have grown substantially in digital gift card usage. Brands like Xbox, PlayStation, and Netflix capitalize on the Latin American market by offering direct-to-consumer digital gift cards through online and mobile channels.
Integration with Mobile Wallets Enhancing Usability
- The integration of gift cards with mobile wallets, such as Pix in Brazil and CoDi in Mexico, has streamlined digital transactions, making it easier for consumers to store, send, and redeem prepaid balances.
- Companies like Nubank in Brazil and Uala in Argentina have introduced mobile wallet solutions that allow users to buy and manage gift cards directly from their digital banking apps.
- Fintech firms and telecom providers are forming partnerships to expand the accessibility of digital gift cards, ensuring they are compatible with regional payment systems and widely accepted by merchants.
Corporate Incentives and Loyalty Programs Expanding
- Businesses in Latin America are increasingly using gift cards as employee rewards, offering them as part of workplace incentives and performance-based recognition programs.
- Large corporations, including WeWork Brasil, have partnered with fintech firms like Givex to launch digital gift card programs tailored for corporate clients. These programs help firms manage incentive-based spending more effectively.
- Supermarket chains such as Grupo Exito in Colombia and Cencosud in Chile have introduced branded gift cards as part of their loyalty programs. These programs reward repeat customers with reloadable prepaid cards that can be used for future purchases.
Expansion of Gaming and Subscription-Based Gift Cards
- The demand for entertainment-focused gift cards has surged, with platforms like Spotify, Netflix, and Disney+ witnessing increased adoption of prepaid gift card payments in Latin America.
- The gaming industry is a major driver of gift card sales in the region, with brands like Razer Gold and Google Play launching targeted campaigns to engage mobile and console gamers.
- Local retailers and fintech providers are expanding access to gaming and subscription gift cards, enabling consumers to purchase prepaid digital entertainment options using local currencies and payment methods.
Key Market Trends and Players
- Retailer-Specific Gift Cards: Large retail brands such as Carrefour, Grupo Exito, and Falabella are expanding their proprietary gift card programs to drive customer engagement and repeat sales.
- Fintech-Led Growth: Payment providers like Mercado Pago and PagSeguro are introducing multi-purpose prepaid cards, including gift card functionalities, to cater to unbanked and underbanked populations.
- Cross-Border Remittance Growth: Digital gift cards are increasingly used as remittance alternatives, enabling families to send prepaid funds for specific merchants or essential goods across Latin American countries.
Recent Developments and Strategic Partnerships
- Givex's Expansion in Brazil: The fintech firm has partnered with Vivara to launch e-gift solutions, enabling consumers to purchase and redeem gift cards digitally for luxury retail items.
- Nubank's Digital Payment Push: Brazil's largest digital bank has integrated gift card options into its platform, allowing users to buy and manage prepaid cards for shopping and entertainment.
- Amazon Expanding Gift Card Availability: The global e-commerce giant has extended its digital gift card services to more Latin American countries, enabling cross-border purchases for a wider consumer base.
Outlook for the Next 2-4 Years
- Digital gift cards will dominate as consumers adopt mobile wallets and digital-first payment methods.
- Corporate incentives will expand, with businesses increasingly integrating prepaid gift cards into employee reward programs and promotional campaigns.
- Gaming and subscription-based gift cards will continue to grow, driven by Latin America's rising demand for digital entertainment and on-demand streaming services.
- Cross-border transactions will increase, with gift cards being used as a tool for remittance payments and international e-commerce.
- Regulatory oversight will strengthen, encouraging transparent digital payment systems and enhancing security measures to prevent fraud in the gift card industry.
Scope
Total Spend on Gifts
- 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
- 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
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer
- By Functional Attribute
- By Occasion
- Festivals & Special Celebration Days
- Milestone Celebration
- Self-Use
- Other
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics
- 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
- By Functional Attribute
- By Occasion
- Employee Incentive
- Sales Incentive
- Consumer Incentive
- By Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers)
- 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)
- 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)
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Gift Card Purchase by Payment Method
- Credit Card
- Debit Card
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- BNPL & Other Digital Payment
- Cash
Market share by retailers for key countries (45 retailers)
- Alkosto
- Amazon
- Americanas
- Ara
- Bodega Aurrera
- Carrefour Hypermarket
- Carrefour Market
- Carulla supermarkets
- Casas Bahia
- Cencosud SA
- Chedraui
- Coppel
- Coto Supermercado
- Cruz Verde
- DIA Online
- Disco
- Easy Cencosud
- El Palacio de Hierro
- Exito hypermarkets
- Extra
- Falabella
- Havan
- Home Depot
- Jumbo Cencosud
- K-Tronix
- La Anonima
- Lider Express
- Lider Hiper
- Liverpool
- Magazine Luiza
- Mas Online (Changomas)
- MercadoLibre
- Mi Bodega Aurrera
- Natura Cosmeticos SA
- Olimpica
- Oxxo
- Paris Cencosud
- Ripley
- Sam`s Club
- Santa Isabel Cencosud
- Sodimac
- Sodimac Homecenter
- Superbodega Acuenta
- Todo Dia
- Unimarc
- Vea
- Walmart Supercenter
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Fonte: Business Wire
