Finland 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 Finland is expected to grow by 7.0% on annual basis to reach US$984.0 million in 2025.

The gift card market in the country experienced robust growth during 2020-2024, achieving a CAGR of 7.6%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 6.1% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 919.5 million to approximately USD 1,244.9 million.

This report provides a detailed data-centric analysis of the gift card sector in Finland, 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

The Finnish gift card market is evolving rapidly, with digitalization, corporate adoption, and the entry of new players shaping its growth. The increasing shift towards digital gift cards, driven by e-commerce expansion and consumer demand for convenience, encourages retailers to invest in improved digital platforms. Additionally, businesses are incorporating gift cards into employee incentives and customer loyalty programs, further driving adoption in the corporate sector.

Competition will intensify over the next few years as new entrants introduce innovative multi-brand and digital gift card solutions. Established players must enhance their offerings to retain market share while adapting to changing consumer preferences. Companies that leverage technological advancements and strategic partnerships will be better positioned to capture growth opportunities in Finland’s expanding gift card industry.

Growing Adoption of Digital Gift Cards
• Digital gift card usage is increasing in Finland, with consumers prioritizing convenience and instant redemption. Leading retailers, including S-Group and Kesko, have expanded their portfolios to meet the rising demand.
• The acceleration of e-commerce, particularly since the COVID-19 pandemic, has significantly boosted digital gift card adoption. Finland's online retail sector has seen consistent revenue growth, and consumers continue to prefer digital purchasing options for everyday goods and services.
• The digital gift card market in Finland is projected to grow further. Retailers are likely to invest in improved digital platforms and customized e-gift card options, which will enhance customer engagement and drive brand loyalty.

Expansion of Gift Cards in Corporate Incentive Programs
• Finnish companies increasingly use gift cards for employee recognition and customer reward programs. Corporations like Nokia and Kone have integrated gift cards into their incentive structures to enhance engagement and satisfaction.
• Organizations are shifting toward flexible and personalized rewards, making gift cards a preferred alternative to traditional incentives. The ability to tailor rewards to individual preferences enhances their effectiveness in corporate programs.
• Adopting gift cards in corporate incentive programs is expected to increase, contributing to the overall expansion of Finland’s gift card industry. As companies explore more innovative ways to engage employees and customers, the demand for corporate gift card solutions is set to rise.

Emergence of New Market Entrants and Innovation
• New companies are entering the Finnish gift card market, introducing innovative products that cater to a tech-savvy audience. Startups are launching digital and multi-brand gift cards to offer flexible gifting solutions.
• Increasing competition in the industry has led to greater innovation, with companies focusing on digital-first and multi-purpose gift card solutions. Consumers are looking for versatile and easy-to-use gifting options, which has spurred market diversification.
• This trend is expected to continue, making the Finnish gift card market more competitive and diverse. Consumers will have access to a wider range of gift card options, while established players may need to innovate further to maintain their market share.

Competitive Landscape of the Finland Gift Card Market

The Finnish gift card market is set for continued expansion, with digital transformation and regulatory changes shaping its competitive landscape. As consumer demand shifts toward digital and multi-brand gift cards, established retailers and new entrants must adapt to evolving preferences. Strategic partnerships and acquisitions will further market consolidation, enabling companies to scale their operations and diversify their offerings.

Competition will increase over the next few years as technology-driven innovations, such as cryptocurrency-enabled gift cards, gain traction. Regulatory oversight will ensure market transparency and security, influencing how businesses structure gift card programs. Companies prioritizing digital integration, regulatory compliance, and strategic collaborations will be best positioned to capture growth opportunities in Finland’s evolving gift card industry.

Current Market Dynamics
• Finland's gift card market is experiencing steady growth, driven by the rising adoption of digital gift cards across various consumer and business applications. The increasing shift toward digital payment solutions and online transactions has made gift cards a preferred choice for individual gifting and corporate incentives.
• As digitalization continues to shape the retail and corporate sectors, gift cards are seamlessly integrated into loyalty programs and digital wallets. Retailers and service providers are expanding their offerings to cater to the growing demand for flexible and convenient payment options. This trend is expected to further strengthen the role of gift cards in Finland’s evolving payment landscape.

Key Players and Market Share
• S-Group and Kesko continue to dominate Finland’s gift card market, utilizing their extensive retail networks to offer diverse gift card solutions. Their established market presence allows them to reach a broad consumer base, making gift cards a key component of customer engagement and loyalty strategies. As digital transactions become more prevalent, these retailers are expanding their offerings to include digital gift card options that align with changing consumer preferences.
• At the same time, new entrants are disrupting the market by introducing digital and multi-brand gift cards that cater to tech-savvy consumers. These emerging players focus on convenience, personalization, and seamless integration with digital wallets and e-commerce platforms. Their presence is fostering greater competition and pushing established players to innovate, further driving the evolution of Finland’s gift card industry.

Recent Launches and Partnerships
• Strategic partnerships have played a crucial role in expanding digital gift card offerings and improving accessibility in Finland’s market. Companies are collaborating with fintech firms and e-commerce platforms to integrate gift cards into digital payment ecosystems, making them more convenient for consumers. These partnerships are enhancing distribution channels and increasing the adoption of multi-brand and personalized digital gift card solutions.
• Mergers and acquisitions also drive market consolidation, strengthening established players' competitive positioning. Larger firms are acquiring smaller or specialized companies to diversify their gift card portfolios and expand their market presence. This trend will continue as companies seek to scale operations, optimize distribution networks, and leverage technological advancements in the evolving Finnish gift card sector.

Anticipated Market Evolution (Next 2-4 Years)
• As technology drives innovation, the Finnish gift card market is expected to become more competitive over the next few years. Established players will likely enhance their digital offerings, integrating features like personalized e-gift cards and mobile wallet compatibility to meet evolving consumer expectations. Meanwhile, new entrants may differentiate themselves by introducing alternative payment-based gift cards, including cryptocurrency-backed options, appealing to a younger and digitally engaged audience.
• Market consolidation is also anticipated as companies pursue strategic partnerships and acquisitions to strengthen their positions. Collaborations between retailers, fintech firms, and digital payment platforms will likely expand the accessibility and functionality of gift cards. As competition intensifies, businesses that invest in innovation and strategic alliances will be better positioned to capture market share and maintain relevance in Finland’s evolving gift card sector.

Regulatory Changes
• Finland has introduced new regulations in the past year to improve transparency and consumer protection in the gift card market. These measures focus on standardizing fees, expiration policies, and usage terms, ensuring that consumers receive fair value and clear purchase information. By implementing these regulations, authorities aim to create a more structured and reliable market environment that benefits consumers and businesses.
• Additionally, the government has strengthened efforts to combat fraud related to gift cards by issuing guidelines for businesses and consumers. These guidelines emphasize secure transaction practices, enhanced verification measures, and public awareness campaigns to reduce the risk of fraudulent activities. As digital gift cards become more prevalent, regulatory oversight will play a key role in maintaining trust and security in Finland’s gift card industry.

Scope

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

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

Finland 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

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

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

Finland 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

Finland 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

Finland 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

Finland 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

Finland 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

Finland 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

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

Finland Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
S-market
K-Citymarket
Prisma
K-Supermarket
Lidl
Tokmanni
Onninen
K-Market
K-Rauta
Verkkokauppa

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 Finland.
• 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 Finland: 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. Show more