According to the global gift card survey, the global gift card market is growing by $2.1 billion USD annually. To 2024, it could exceed the $221 billion mark. Brazil sits in this ecosystem, ranking in the middle of the global market for gift card sales in eighth place, the upcoming Easter holiday is a season of growth.
According to data disclosed by gift card retail technology company To Do, gift cards have a large penetration and market share in brick-and-mortar stores, especially in the retail sector,
Easter sales in Brazil are expected to be 313% higher this year than in 2021, which was 551% higher than in 2020. While the online sales market growed by 29% in 2021 compared to 2020.
The survey also showed that Brazilian consumers are actually more likely to buy gift cards in brick-and-mortar stores than online, but due to the pandemic, there are many
many restrictions. In addition, consumers said that online purchase can choose more gift card styles, more can buy the desired gift card.
Online sales for Easter (April 17) in Brazil will increase by 10% to $6.6 billion in 2022, according to Neo Trust, a consultancy.In addition to gift cards, online orders for candy, chocolate, Easter eggs, religious items and wine and flowers will also continue to grow.
According to the Brazilian Institute of Geography and Statistics (IBGE), gift card sales are expected to grow, after a 0.8% increase in Brazilian retail sales at the start of the year,
much of that growth has come through online transactions. While still below pre-pandemic growth, it was the best retail performance in the past three years.
Easter is just around the corner, and it's important for Brazilian online retailers to prepare for product stocking and promotions in advance to take advantage of this important opportunity.