Business Research & Analysis
In 2016, global luxury ecommerce amounted to USD 32.4 billion, and it is expected to reach USD 63.4 billion by 2021 at a CAGR of 14.4%. Simultaneously, gift card in this segment has also witnessed tremendous consumer interest in past two years. Around 38% consumers prefer purchasing electronic items through gift cards, which accounts for majority of the total share, followed by travel, luggage, watches, and apparels. Luxury Australia Prepaid Gift Cards are primarily closed loop cards with a strong focus on brand. Growth in luxury gift card segment is driven by increasing high net worth individuals in growth markets and increased business spend on luxury. Below are key trends:
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