Dublin, March 11, 2025 (GLOBE NEWSWIRE) — The “Vietnam Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics Databook – Q1 2025” report has been added to ResearchAndMarkets.com’s offering.
The gift card market in Vietnam is expected to grow by 15.1% on annual basis to reach US$877.1 million in 2025. Vietnam’s gift card market experienced robust growth during 2020-2024, achieving a CAGR of 17.8%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 13.2% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 762.3 million to approximately USD 1.43 billion.
This report provides a detailed data-centric analysis of the gift card sector in Vietnam, 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.
Key Insights
Vietnam’s gift card market is transforming, driven by the shift toward digital solutions, deeper integration into e-commerce platforms, and increasing corporate adoption. The expansion of digital payment systems and cashless initiatives by the government are accelerating this trend, making gift cards more accessible and convenient for consumers. As businesses recognize the benefits of gift cards in consumer transactions and employee engagement, the demand for flexible and personalized gifting solutions is expected to rise. Over the next two to four years, Vietnam’s gift card industry is projected to grow substantially, fueled by digital commerce advancements and strategic business investments. Integrating gift cards into online retail and corporate reward programs will likely contribute to market expansion and higher consumer adoption rates. Companies that capitalize on these evolving trends by offering innovative and seamless gift card solutions will be well-positioned to gain a competitive edge in Vietnam’s growing digital economy.
Growing Popularity of Digital Gift Cards
- Vietnam is transitioning significantly from physical to digital gift cards, with more businesses introducing electronic voucher options. Companies such as Got It, a major player in the industry, have expanded their offerings from traditional store vouchers to digital solutions that integrate with brand websites and mobile applications.
- The increasing adoption of digital payment methods and government initiatives promoting cashless transactions are key factors driving this shift. As consumers become more accustomed to online transactions, businesses are responding by providing digital gift cards to enhance convenience and accessibility.
- The demand for digital gift cards is expected to rise further, leading to widespread adoption across various industries. Companies investing in digital gift card solutions will likely benefit from increased customer engagement, fostering long-term loyalty and contributing to the market’s sustained expansion.
Integration of Gift Cards into E-Commerce Platforms
- Vietnamese e-commerce retailers are increasingly embedding gift card solutions into their platforms, making purchasing and redeeming them easier for consumers. This trend reflects the broader shift toward digital shopping experiences emphasizing flexibility and convenience.
- The rapid growth of e-commerce, accelerated by the COVID-19 pandemic, has pushed retailers to diversify their payment and promotional offerings. Gift cards integrated into online platforms provide shoppers additional payment flexibility while encouraging repeat purchases.
- As Vietnam’s e-commerce market continues expanding, integrating gift cards is expected to become a standard practice among major retailers. This development will likely increase the volume of gift card transactions and contribute to the overall growth of the digital economy.
Increased Corporate Use of Gift Cards for Employee Rewards
- Vietnamese businesses are adopting gift cards as part of their employee reward and incentive programs. This trend is driven by gift cards’ flexibility and convenience, allowing companies to cater to diverse employee preferences.
- Corporations recognize the effectiveness of gift cards in motivating employees and improving workplace satisfaction. Their ability to offer customized reward options makes them popular for corporate incentive programs.
- The adoption of gift cards in corporate reward systems is expected to expand, driving greater demand in Vietnam’s gift card market. Companies that leverage gift card-based incentives may see higher employee engagement and retention levels, reinforcing their appeal as a practical reward mechanism.
Competitive Landscape of the Vietnam Gift Card Market
Vietnam’s gift card market is on a steady growth trajectory, driven by increasing digital adoption, integration with e-commerce platforms, and rising demand from corporate incentive programs. Leading domestic players like Got It are expanding their digital offerings, while international companies such as Sodexo and Edenred continue to contribute to the competitive landscape. The market is expected to see further innovation and investment as businesses adapt to evolving consumer preferences and the broader digital economy.
Vietnam’s gift card sector will likely experience greater consolidation, with strategic partnerships and mergers enhancing market competitiveness. The growing emphasis on digital payment solutions and cashless transactions will further accelerate the adoption of gift cards. Businesses focusing on digital transformation, regulatory compliance, and personalized gifting solutions will be well-positioned to capitalize on emerging opportunities in this expanding market.
Current Market Dynamics
- Vietnam’s gift card market is driven by the increasing adoption of digital gift cards, integration with e-commerce platforms, and the rising use of gift cards in corporate incentive programs. The shift towards digital solutions reflects broader trends in consumer behavior and payment preferences.
Key Players and Market Share
- The market also sees participation from international players such as Sodexo and Edenred, which offer corporate incentive solutions, including gift cards. These companies contribute to the competitive landscape by providing diverse options for consumers and businesses.
Recent Launches and Partnerships
- While the available sources do not detail specific recent mergers and acquisitions in Vietnam’s gift card market, the global trend indicates a move towards consolidation to leverage synergies in the gift card sector. This includes strategic collaborations between retailers and fintech companies to offer more versatile and personalized gift card options.
- In Vietnam, companies like Got It expand their offerings through partnerships with brand partners, integrating digital solutions into websites and apps to enhance the consumer experience.
Anticipated Market Evolution (Next 2-4 Years)
- Over the next 2-4 years, Vietnam’s gift card market is expected to become more dynamic, with established players and new entrants innovating to capture market share. The continuous growth of e-commerce and digital payments will likely drive further advancements in platform features and user experiences.
- Companies may focus on personalized and versatile gift card solutions to meet evolving consumer preferences. Additionally, strategic partnerships and potential mergers could reshape the market, enhancing competitiveness and expanding market reach.
Regulatory Changes
- The Vietnamese government has been promoting cashless transactions, which supports the growth of digital payment solutions, including gift cards. However, the available sources do not detail specific regulatory changes affecting the gift card industry in the past year.
- Businesses operating in this sector should stay informed about regulations related to digital payments and consumer protection to ensure compliance and maintain consumer trust.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 325 |
| Forecast Period | 2025 – 2029 |
| Estimated Market Value (USD) in 2025 | $0.88 Billion |
| Forecasted Market Value (USD) by 2029 | $1.43 Billion |
| Compound Annual Growth Rate | 13.2% |
| Regions Covered | Vietnam |
Report Scope
This report provides in-depth, data-centric analysis of gift card industry in Vietnam through 100+ tables and 280+ charts. Below is a summary of key market segments.
- Vietnam Total Spend on Gifts
- Vietnam Gift Card Market Size by KPIs across Consumer Segments
- Vietnam Gift Card Market Size by Consumer Segment
- Vietnam Digital Gift Card Market Size
- Vietnam Gift Card Market Size by Retail Consumer
- Vietnam Gift Card Spend by Consumer Behavior and Demographics
- Vietnam Gift Card Market Size by Corporate Consumer
- Vietnam Gift Spend by Product Categories (Split by Retail and Corporate Consumers)
- Vietnam Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)
- Vietnam Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)
- Vietnam Gift Card Purchase by Payment Method
For more information about this report visit https://www.researchandmarkets.com/r/kzx36v
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
- Vietnamese Gift Card and Incentive Card Market
