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.”
