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The Ultimate Guide to the B2B Gift Card Market in Saudi Arabia

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

GENERAL FACTS ON

Saudi Arabia

32.1M

Population

Riyadh

Capital

Arabic

Official language

Saudi Riyal

Currency

National holidays

22nd February (Founding Day), 23rd September (Saudi National Day)

Saudi Arabia gift card market size

In value terms, the gift card market in Saudi Arabia has recorded a CAGR of 10.7% during 2018-2022. The gift card industry in Saudi Arabia will continue to grow over the forecast period and is expected to record a CAGR of 9.2% during 2025-2029. The gift card market in the country will increase from US$ 1,88 billion in 2025 to reach US$ 2,68 billion by 2029.

The demand for gift cards has risen significantly due to a growing preference for digital payments over cash. Apart from this, some consumers see gift cards as a more effective and secure form of payment when shopping online, thus driving the demand further upward. 

The numerous gifting occasions in Saudi Arabia hold a huge growth potential for the Saudi gift card market, and the use of gift cards is likely to spread from larger cities to smaller ones, especially as e-commerce in the country continues to grow and several new technologies including digital wallets provide customers with innovative and seamless payment options. 

Country gift card market size

Saudi Arabia gifting traditions

  • Between Tradition and Modernity: Gift-giving is steeped in tradition, conservatism, honour, protectiveness, and modesty. The core concepts embedded in the culture have fostered a sense of identity that is deeply rooted in tradition, yet increasingly open to contemporary influences 


  • Importance of Religion: Islam, a guiding force shaping social, familial, political, and legal aspects of life, casts a profound influence on Saudi society. However, within this Islamic framework, customs and attitudes can vary significantly between regions, minorities, and tribes, adding layers of diversity to the tradition of gifting 


  • A Widespread Practice: While personal gifts are commonly exchanged among close friends, the etiquette extends to broader social contexts. If you find yourself invited to a Saudi family home, a small gift is a gesture of appreciation. However, the gift should be offered as a token of gratitude to the entire family, rather than focusing on a specific member 


  • Delicate Balance: An extravagant or overly expensive gift can unintentionally embarrass the recipient, especially if presented in front of others  


  • Professional Settings: Saudi business culture places much importance on personal relationships. Saudis prefer to engage in business with those they know and trust. In business settings, offering a gift is not just a courteous act – it can potentially help build and strengthen relationships, if it’s aligned with customs and legal regulations

     

  • Transparency in Corporate Settings: Gifts are given openly to avoid any perception of impropriety or corruption. Furthermore, gifts should be presented with the right hand, as a symbol of respect 


  • Gifting Occasions: Religious celebrations such as Ramadan, Eid Al-Fitr and Eid Al-Adha are marked by the exchange of gifts, symbolizing shared joy and camaraderie

     

  • Respecting Islamic Values: Gift-giving between the sexes should be considered carefully in line with cultural norms and professional etiquette 

Gift card regulations in Saudi Arabia

Here are some general points about gift card regulations in Saudi Arabia as of January 2024: 


  • Gift cards are usually valid for 12 months (after activation)  

  • Providers need to adhere to Saudi tax rules and consumer protection laws 

It's important to note that regulations may change, so always check the latest guidelines with Saudi Arabia'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 Saudi Arabia, ensure you read the issuer's terms and conditions and consult with legal experts if necessary

Popular gift cards in Saudi Arabia

Popular gift card brands
  • Al Manea: A fusion of luxury and tradition, Al Manea captivates Saudi Arabian customers with its exquisite collection of contemporary yet culturally resonant fashion, symbolizing a harmonious blend of heritage and modernity 


  • Body Masters: Sweating it out in style, Body Masters beckons fitness enthusiasts in Saudi Arabia with cutting-edge equipment and trendy activewear, making workouts a lifestyle statement 


  • Carpisa: Elevating the art of travel, Carpisa allures Saudi customers with its chic and functional luggage and accessories, transforming the journey into a fashion-forward exploration  


  • Hassan Al Nemer Jewelry: Unveiling timeless elegance, Hassan Al Nemer captures the hearts of customers with meticulously crafted pieces that intertwine tradition and innovation, celebrating individuality and sophistication  


  • Home Box: Redefining home aesthetics, Home Box resonates with Saudi Arabian shoppers by offering affordable yet stylish furniture and décor, transforming houses into personalized havens 


  • Lifestyle: The place to be for trendsetters – Lifestyle beckons with its diverse range of fashion, beauty and home products, embodying the essence of contemporary living and self-expression  


  • Tavola: Premium kitchenware and innovative gadgets by Tavola captivate anyone wishing to turn their cooking endeavour into a delightful experience  

Benefits of B2B gifting in Saudi Arabia

  1. Strengthening Personal Connections: In the bustling business world of Saudi Arabia, the bedrock of successful collaborations is formed by relationships. Companies aiming to foster genuine, personal connections with their Saudi counterparts can strengthen this foundation by sharing a piece of their brand through corporate gifting 


  2. Navigating the Cultural Currents: Saudi Arabia isn’t your typical business hub, and navigating its cultural currents requires know-how. Corporate gifting is like having a cultural compass; it helps companies steer through the intricacies of rituals, etiquette, and the subtle dance between tradition and modernity 


  3. Celebrating Milestones and Festivities: Saudi Arabia cherishes celebratory occasions, from the holy month of Ramadan to the festivities of Eid. Engaging in corporate gifting during these significant moments shares the joy, creates lasting memories and lets you join the local rhythm 


  4. Differentiating in a Unique Market: Standing out in the unique Saudi market requires more than just a stellar product or service. Corporate gifting sets companies apart by showing that they appreciate the nuances of the local culture. It’s not just a gesture; it’s a strategic move that helps companies become integral parts of the Saudi business sphere 

The Global Gift Card 

Looking to nurture trust and respect in Saudi Arabia’s tradition-rich business culture? Corporate gifts during Eid or National Day are not just appreciated—they’re a sign of a solid partnership. With GoGift, you combine global professionalism with local sensitivity.

Physical and digital versions of The Global Gift Card
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