Gift card sales grow 9% in festive shopping rush

Gift-cards.jpg

UKGCVA reveals online gift card sales are also up 13%.

Consumer gift card and voucher sales have soared in the third quarter of 2014, growing 9.07% according to statistics from the UK Gift Card & Voucher Association (UKGCVA).

A new report compiled independently by consultants at BDO shows that in the third quarter of 2014, the gift card and voucher industry grew by 9.71%.

Growth among consumers was supported by a 72.84% increase in the sales of gift card malls, which allow shoppers to spend their gift card value throughout a whole shopping complex.

Story continues below
Advertisement

Westfield London, Cribbs Causeway and The Mall (including its six community shopping centres) already offer similar products.

Online gift card and multi-choice vouchers sales also grew by 13.16% and 48.85% respectively.

UKGCVA director-general Andrew Johnson, commented: “Growth of over nine per cent is a very positive end to our third quarter, a result we are extremely pleased with. It’s a sure sign that the gift card and voucher industry is continuing its momentum.

“Consumer sentiment towards gift cards and vouchers appears to be building momentum, and it’s great to see this spreading across multiple product types to include multi-choice products as well as category specific gift cards. Time will obviously be the test, but this is a very encouraging position to be in, in the run up to Christmas when we’re expecting bumper sales.”

The UKGCVA represents the key players in the £5 billion gift voucher, cards and store value solutions market.

Authors

*

Related posts

Top