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The Ultimate Guide to the B2B Gift Card Market in Kuwait

Discover the latest trends, top brands, and insights into the B2B gift card industry in Kuwait

GENERAL FACTS ON

Kuwait

3.1M

Population

Kuwait City

Capital

Arabic

Official language

Kuwaiti dinar

Currency

National holidays

25th February (National Day), 26th February (Liberation Day)

Kuwait gift card market size

 The Kuwaiti gift card market is relatively small in size and thus does not possess an individual market analysis. However, the greater Middle East gift card market has generated a revenue of $27 billion in 2023 and is expected to record a CAGR of 7% during 2024-2029.

As in many places all over the world, the COVID pandemic accelerated the adoption of cashless payments and digitalisation. As such, the adoption of e-gift cards in the first quarter of 2020 saw an increase of over 250% in the Middle East when contrasted to the same period in 2019. As of 2020, 90% of customers’ redemptions in B2B programmes are digital gift cards.  

As of today, Kuwait still highly depends on oil. While the country’s economic outlook remains stable, sluggish global growth might present as a challenge. With digital transformation being one of the pillars of the Kuwait Vision 2035, it is likely that digital technologies including digital wallets, e-commerce, and digital gifting will continue to increase and experience governmental support.  


Kuwait’s business-friendly environment with low taxes and ever-stronger incentives for foreign investment has long attracted the attention of multinational companies, a trend that is likely to continue as Kuwait seeks to diversify this economy. This will lead to a higher demand in global corporate gifting solutions and growth in the retail sector.  

Country gift card market size

Kuwait gifting traditions

  • Religious Influence: Kuwaiti society is mostly Islamic, hence it is vital to respect and follow religious traditions 


  • Family Values: The extended family is the basis of the social structure and individual identity. Favoring relatives and friends is viewed positively, as a guarantee to hiring people who can be trusted 


  • Business Culture: A strong respect for authority and hierarchical system shapes the local business culture. Generally, personal ties trump official contracts, so the development of trust and personal relationships is essential to doing business successfully 


  • Gifting Occasions: Gift-giving is a fundamental aspect of Kuwaiti culture, with gifts given during weddings, Eid festivities, and other important occasions

     

  • Art of Gift-Giving: Gifts should be given with the right hand or both, showing respect, gratitude, and awareness of Islamic customs. It is vital to choose culturally appropriate gifts 


  • Corporate Gifting: Gifts are normally opened in private with a thank you note being sent after (today, this may be by email) 

Gift card regulations in Kuwait

Here are some general points about gift card regulations in Kuwait as of August 2024: 


  • Terms and Conditions of gift cards are subject to the Kuwaiti consumer protection laws 

It's important to note that regulations may change, so always check the latest guidelines with Kuwait's government or appropriate regulatory bodies. Moreover, the specifics and prerequisites might differ based on the gift card type, its provider, and other considerations.

If you're considering buying or utilizing gift cards in Kuwait, ensure you read the issuer's terms and conditions and consult with legal experts if necessary

Popular gift cards in Kuwait

Popular gift card brands
  • Carpisa: Discover the trendy and fashionable handbags, wallets, travel bags, and accessories for men and women 


  • Max: Today, Max is the leading and most trusted value fashion retailer in the Middle East with a network of over 500 stores across the MENA region 


  • OnlyRoses: A high-end gifting and decorative interiors brand established over a decade ago in London, offering innovation with its signature design elements and authentic luxury experience 


  • Steve Madden: This fashion-cult favourite designer has brought the essence of true lifestyle to Kuwait, from tough boots to sky high sandals  


  • Landmark Group: This single gifting solution across 50+ Landmark Group brands can be a token of love, an expression of gratitude, and a mark of celebration – the perfect gift for the perfect occasion! 

Benefits of B2B gifting in Kuwait

  • Strengthening Bonds, Securing Loyalty: Corporate gifting plays a crucial role in reinforcing relationships with clients, partners, and employees. By thoughtfully recognizing contributions and showing appreciation through gifts, businesses can foster a sense of loyalty and trust. This not only helps in retaining valuable clients but also in building stronger, more collaborative partnerships 


  • Amplifying Brand Visibility: Customised gifts bearing your company’s logo or message act as constant reminders of your brand, especially when they are used or displayed publicly. This continuous exposure helps in embedding your brand into the minds of recipients and those around them, driving brand recognition and potentially opening doors to new business opportunities 


  • Boosting Employee Morale and Retention: Employees are the backbone of any business, and recognizing their hard work with thoughtful gifts can significantly boost morale. Corporate gifting serves as a powerful tool to show appreciation, leading to increased job satisfaction and loyalty. When employees feel valued, they are more motivated and productive, which contributes to a positive workplace culture. 


  • Building Cultural Connections: In Kuwait, understanding and respecting local customs and traditions can go a long way in building strong business relationships. Tailoring corporate gifts to reflect cultural sensitivities not only shows respect but also deepens connections with local clients and partners. 

The Global Gift Card 

Want to foster lasting business relationships in Kuwait’s connection-focused corporate culture? Sending a gift during Eid or National Day demonstrates respect and consideration. With GoGift, your business appreciation aligns with tradition while remaining globally relevant.

Physical and digital versions of The Global Gift Card
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