eGift Market Projected to Expand to 116,723 Million Yen by FY2018, 249,275 Million Yen by FY2023
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on the domestic market of gift certificates, vouchers, and eGift, and has found out the market trends by product and service category, the trends of market players, and the future outlook.
The domestic market size of gift certificates, vouchers, and eGift in FY2018 based on the amount issued was 862.8 billion yen, out of which gift certificates and vouchers (including PET prepaid cards and plastic gift cards) attained 746.1 billion and eGifts 116.7 billion yen.
No matter how the market has been declining, those gift certificates and vouchers made of paper have long been generally used, because of their usefulness and of being pleased by anyone due to the convincing substances, the market of paper gift certificates and vouchers is likely to stably keep a certain level of demands.
eGifts have gradually been accepted, with the number of those issued expanding year by year. Particularly, they are increasing corporate demands, used for campaigning, gifts for exchanging reward points, for novelty, and for the gifts for the employees on the recognition of continuous service.
PET prepaid card companies entering eGifts market
The eGift market has been on the rise with the size in FY2018 attaining 116.7 billion yen, based on the total amount issued.
eGifts have been progressively used, partly replacing gift certificates, vouchers and PET prepaid cards as well as gifts. In other words, some users have started using them in the place of conventional paper certificates and PET cards for campaigns and promotions, in the hope of reducing the costs for management and/or operations of such certificates.
In addition, the issuers of gift certificates, vouchers and PET prepaid cards are considering digitizing them, also in the hope of reducing the management cost. In fact, some issuers of PET prepaid cards have already entered the eGift market (Book card NEXT in June 2016, and QUO card Pay in March 2019).
The market size of gift certificates, vouchers, and eGift is projected to achieve 968.7 billion yen by FY2023, out of which gift certificates and vouchers (including PET prepaid cards and plastic gift cards) to attain 719.4 billion and eGifts 249.2 billion yen.
Because gift certificates and vouchers are used generally and have a certain level of demand, the market is likely to continue the steady growth. The eGift market is projected to continue expanding, enabling the users to reduce the management and operational costs, which increases the corporate demand, partly replacing the demand for gift certificates, vouchers and PET prepaid cards together with that for gifts.
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