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Research : B2B gift card and voucher sales contributed to the 3.2% growth experienced in the industry

by on March 25, 2013 in Lead story, Research, Retail, Retail News, Small Business, Startups

B2B gift card and voucher sales dominate industry growth, new research reveals

B2B gift card and voucher sales in the final quarter (Q4) of 2012 contributed to the steady 3.2% growth experienced in 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 the continued significance of the corporate sector to the gift card and voucher industry, with sales up by almost 6% during the last three months of 2012.

Strong growth was witnessed across all types of B2B gift card sales – closed loop sales increased by over 40% and restricted loop sales grew by 37%. Furthermore, all channels showed growth in the B2B field – with online sales between businesses driving growth, up by almost 38%.

Andrew Johnson, director-general of the UKGCVA, comments:

“Corporate investment in gift cards and vouchers has been strong for a long time now, and will continue being a significant contributor to the ever-growing market. Corporates are engaging with the industry and as a result, engaging with their employees in the use of gift cards and vouchers to ensure company motivation and satisfaction.

Additionally, with online sales continuing to grow year-on-year, innovation and investment in new products and new channels will also be of benefit to the continuing growth of the industry.”

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