Turkish firms lean toward digital New Year corporate presents

Gamze Bal – ISTANBUL

Companies in Türkiye are increasingly giving their New Year corporate presents in the form of digital gift cards due to the notable expansion of the market in the last 12 months, a sector representative has pointed out.

In Türkiye, the promotional market's yearly volume increased from 20 billion Turkish Liras in 2019 to around 100 billion liras this year. The digital gift card market within this sector is becoming more competitive and expanding daily as it lessens the financial strain on businesses, according to Mehmet Yücetürk, the head of the PROMOTÜRK Association, a preeminent umbrella organization within the sector.

Yücetürk clarified that the digital gift card market has expanded by more than 230 percent in the recent year and soared to 500 million liras this year.

“Businesses have started moving in this direction in an effort to make their staff and target consumers feel valued and reach them via various platforms,” Yücetürk explained, regarding the underlying reasons for the rise in demand.

According to their collective analysis, the primary objective of the digital gift cards is to both personalize the gift and enable the individuals to spend in line with their own needs, Yücetürk noted.

Furthermore, other industry executives state that digital gift cards easing the operational burden of companies also contribute to the sharp rise in demand and intense rivalry.

This is closely associated with digital gift cards reducing the time-consuming and expensive processes involved in choosing, packing and delivering physical presents. Thus, by delivering gift cards straight to the phones or emails of the employees, businesses acquire the chance to save time and cut expenses.

The primary benefit of digital gift cards for employees, on the other hand, is that they appeal to personal preferences.