Research and Markets: Italy Gift Card and Incentive Card Market Databook 2021-2025: Spend Analysis by Digital/e-Gift Card, Retail & Corporate Consumers, Top Retailers, Distribution Channel, Occasions - ResearchAndMarkets.com
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The Italian economy has slid into recession due to COVID-19 crisis. As per national statistics bureau ISTAT, the economy declined by a quarterly rate of 12.8% during April-June 2020 period mainly due to crash in consumer spending and investment during lockdown. The economy is 17.7% smaller than it was in the same period in 2019.
Consequently, gift card market has recorded a subdued growth in 2020. However, the Global Gift Card Survey, Q4 2020 suggests a steady bounce back in 2021. The gift card usage and spending are expected to increase over the short to medium term.