Friday, May 24, 2013
New research reveals the highest growth in consumer sales of gift cards and vouchers for several quarters
Consumer gift card and voucher sales in the first quarter (Q1) of 2013 contributed to the significant 4.6% growth experienced across the industry in the same quarter, according to the latest statistics from The UK Gift Card & Voucher Association (UKGCVA), the trade body representing the key players in the £4.7 billion gift voucher, cards and stored value solutions market. The report, compiled independently by consultants at Ernst & Young, shows that like-for-like consumer sales of gift cards and vouchers were up by 4.6% over the period of January-March 2013; an encouraging growth and the highest recorded over recent quarters.
Strong growth was witnessed across different types of consumer gift card sales. Traditional paper and e-vouchers experienced staggering growth of almost 20%, whilst restricted loop gift cards showed the highest growth of 35%.
Andrew Johnson, director-general of the UKGCVA, comments:
“Over four per cent growth across the industry is a very strong performance given the instability of the wider retail market. It’s both interesting and encouraging to see evidence that consumer confidence in vouchers so far seems to be relatively unaffected by fall-out from high street administrations and issues around voucher redemption, as many consumers still turned to vouchers as a gifting option in the run up to Easter.”