Sales of gift cards and vouchers grew 13% in Q3 2013, a new report shows.
The report, compiled by BDO for the UK Gift Card & Voucher Association (UKGCVA), shows that consumer sales proved particularly robust in the summer, while growth across the three largest sales channels – retailers, agents and leisure operators - was “exceptionally strong”.
According to the report, the largest contributor came from “category-specific” gift cards, which are valid at one location only. These made up almost 80% of consumer sales and a third of the total market. Meanwhile, sales of multi-choice cards and vouchers, which can be used in more than one branch, grew 67%.
Andrew Johnson, director general of the UKGCVA, said: “We are extremely pleased with the phenomenal level of consumer sales over the summer months; 13% growth is very strong by any means.
“Consumer sentiment towards gift cards and vouchers appears to be fast building momentum, and it’s positive to see this spreading across 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 the run up to Christmas when we’re expecting bumper sales.”
