Brazil Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast; Spend Analysis by Digital / e-Gift Card, Retail and Corporate Consumers, Distribution Channel, Occasions, Retail Sectors, Open Loop,

According to PayNXT360, gift card market in Brazil is expected to grow by 12.4% on annual basis to reach US$8,228.7 million in 2025.

The gift card market in the country experienced robust growth during 2020-2024, achieving a CAGR of 13.5%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 11.0% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 7,320.9 million to approximately USD 12,511.3 million.

This report provides a detailed data-centric analysis of the gift card sector in Brazil, covering market opportunities and risks across consumer segments (retail and corporate); product categories; retail sectors; and store formats. With over 100+ KPIs at the country level, this report provides a comprehensive understanding of gift card market dynamics.

It offers a comprehensive analysis of market dynamics in the gift card sector, segmented by digital and e-gift card sales, distribution channels, key occasions, demographic trends, and market share statistics of leading retailers. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

Key Insights

Brazil's gift card market has experienced dynamic shifts driven by strategic partnerships, corporate adoption, digital payment integration, regulatory reforms, global investments, and marketing innovations. These trends are expected to shape a highly competitive and innovative landscape over the next 2-4 years, offering new growth opportunities for stakeholders in both corporate and retail sectors.

Strategic Partnerships Driving Market Expansion
• Brazilian companies have actively pursued partnerships to expand gift card offerings. For instance, Givex Brasil partnered with Vivara in early 2024 to launch digital e-gift solutions, while WeWork Brasil collaborated with Givex to offer corporate-focused gift cards.
• Companies aim to reach broader audiences and improve customer engagement through enhanced gifting solutions. These partnerships provide access to established networks and leverage brand synergies to offer customized products.
• Strategic collaborations are expected to intensify as businesses continue to invest in expanding gift card solutions, leading to increased product variety and innovation across corporate and consumer segments.

Integration of Digital Wallets Enhancing Accessibility
• Digital wallets have become a significant component of the payment ecosystem. In October 2023, PicPay integrated Apple Pay, Google Pay, and Samsung Wallet into its platform, enabling digital purchases through its PicPay Card without physical cards.
• This trend has been fueled by the demand for seamless payment solutions driven by widespread smartphone adoption. Digital wallets offer users convenience and contactless payment options, making them ideal for digital gift cards.
• The integration of digital wallets with gift card services is expected to grow, promoting higher adoption rates of digital gift cards and more flexible payment experiences for consumers.

Corporate Adoption of Gift Cards for Incentive Programs
• Gift cards have become a preferred tool for Brazilian corporations to incentivize employees and customers. In 2024, retail, finance, and technology companies increased their reliance on gift cards for employee rewards and customer loyalty initiatives.
• The rise of hybrid and remote work has prompted businesses to adopt scalable and flexible incentive mechanisms. Gift cards offer an easy-to-distribute, customizable option that appeals to diverse recipients.
• Corporate adoption is projected to expand, increasing demand for customized solutions and services tailored to different industries and client needs.

Regulatory Developments Impacting Gift Card Operations
• The Brazilian government is working on closer cooperation with the central bank, with a renewed focus in 2024 on regulating financial innovations, including prepaid cards and digital payments.
• The growth of financial technology and payment innovations has necessitated a cohesive regulatory framework. Clearer rules around digital payments aim to balance innovation with consumer protection and financial stability.
• Improved regulatory clarity will likely create a stable environment for gift card providers. This may encourage further investments and support the market's growth by reducing entry barriers for new players.

Increased Investments by Global Gift Card Providers
• In 2024, international companies like InComm Payments have increased investments in Brazil. These firms are developing IT hubs to support the digital payment ecosystem and enhance service offerings.
• Brazil's economic growth and digital transformation have attracted foreign investments. The popularity of digital payments in the retail and e-commerce sectors offers lucrative opportunities for global players to establish a foothold.
• The continued influx of global providers is expected to diversify the competitive landscape, leading to innovations and improved service standards for consumers and businesses.

Promotional Campaigns Utilizing Gift Cards
• Brands are incorporating gift cards into their marketing efforts to increase sales. For instance, Coca-Cola partnered with iFood in December 2023 to offer gift cards for a holiday campaign.
• Gift cards effectively encourage consumer engagement by offering a tangible reward. This approach enhances brand visibility and encourages repeat purchases.
• The use of gift cards in promotional campaigns is expected to increase, particularly during seasonal events and major sales campaigns. This will likely result in further adoption by brands across various industries.

Competitive Landscape of Brazil's Gift Card Sector

Current State and Competitive Intensity
• Over the past year, Brazil's gift card market has experienced significant growth, intensifying competition among established financial institutions, global providers, and emerging fintech companies. Strategic partnerships, technological innovation, and increased consumer adoption of digital payment solutions drive this expansion.

Key Players and New Entrants
• InComm Payments: This U.S.-based provider increased its investment in Brazil by developing an IT hub focused on software development and quality assurance automation, aiming to strengthen its position in the market.
• Shopee: The online marketplace partnered with Givex to expand its gift card sales, launching on GivexHub to reach over 120 million digital wallet users and 40,000 corporate customers in Brazil.

Recent Launches and Partnerships
• Givex and Shopee Collaboration: In 2024, Givex partnered with Shopee to expand gift card sales, integrating with GivexHub to enhance market growth and adoption.
• InComm Payments' Acquisition of Todo Cartões: InComm Payments acquired Todo Cartões, a leading closed-loop gift card processor in Brazil, to strengthen its presence and expand its distribution network.

Mergers and Acquisitions
• The Brazilian gift card sector has seen increased investment and strategic collaborations, particularly from global entities aiming to establish or expand their regional presence. Notably, InComm Payments' acquisition of Todo Cartões highlights the trend of consolidation to enhance service offerings and market reach.

Future Outlook (Next 2-4 Years)

The competitive landscape of Brazil's gift card industry is poised for further evolution, driven by:
• Technological Innovation: Companies are expected to invest in advanced technologies to offer personalized and seamless gift card experiences, enhancing customer engagement.
• Regulatory Developments: Ongoing regulatory changes may influence market dynamics, potentially affecting how companies operate and collaborate within the sector.
• Market Expansion: The entry of new players and the expansion of existing ones will likely increase competition, leading to a broader range of products and services for consumers.

Scope

This report provides in-depth, data-centric analysis of gift card industry in Brazil through 100+ tables and 280+ charts. Below is a summary of key market segments:

Brazil Total Spend on Gifts
• By Consumer Segment (Retail and Corporate)
• By Product Categories (13 Segments)
• By Retail Sectors (7 Segments)

Brazil 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

Brazil Gift Card Market Size by Consumer Segment
• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Brazil Digital Gift Card Market Size
• By Retail Consumer
• By Retail Purchase Occasion
• By Corporate Consumer
• By Corporate Purchase Occasion
• By Company Size

Brazil Gift Card Market Size by Retail Consumer
• By Functional Attribute
• By Occasion
1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. Other
• Value by Purchase Channel

Brazil Gift Card Spend by Consumer Behavior and Demographics
• Gift Card Spend by Payment Method
• Consumer Purchase Behaviour
• Gift Card Buyer by Age Group
• Gift Card Buyer by Income Level
• Gift Card Buyer by Gender

Brazil Gift Card Market Size by Corporate Consumer
• By Functional Attribute
• By Occasion
1. Employee Incentive
2. Sales Incentive
3. Consumer Incentive
• By Scale of Business

Brazil 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

Brazil 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

Brazil 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

Brazil Gift Card Purchase by Payment Method
• Credit Card
• Debit Card
• Bank Transfer
• Prepaid Card
• Digital & Mobile Wallet
• BNPL & Other Digital Payment
• Cash

Brazil Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
Carrefour Hypermarket
Magazine Luiza
Americanas
Casas Bahia
Extra
Todo Dia
Walmart Supercenter
Natura Cosméticos SA
Havan
Cencosud SA

Reasons to buy
• Comprehensive comprehension of the dynamics of the gift card and incentive card markets: Recognise the opportunities in the market, the main drivers and trends, and the five-year projection for gift and incentive cards in Brazil.
• Create strategies tailored to the market: To create your gift card strategy, identify growth categories and target particular opportunities across consumer segments and occasions; evaluate important trends and risks unique to your market.
• Learn about the attitudes and behaviours of consumers in Brazil: Increase ROI by understanding how consumer attitudes and behaviours are evolving. With gift cards, you may obtain comprehensive information about retail spending for both corporate and retail customers.
• Six key performance indicators (KPIs) provide a comprehensive view: the quantity of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
• Distribution channel insights: Recognise the differences in gift card sales across online and offline channels as well as between first-party and third-party sales.