Physical gift card sales on the rise, data shows talkingretail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from talkingretail.com Daily Mail and Mail on Sunday newspapers.
With most of our shopping continuing to take place online, year on year sales of gift cards soared by 117% during the second half of 2020.
Research by Gift Card & Voucher Association (GCVA) and KPMG UK showed that there was significant growth in the online channel for both B2B and B2C gift cards and vouchers.
What does this mean for physical retailers?
A whole new paradigm of sales and marketing has developed in recent years, emphasised heavily by the pandemic. Physical retailers are at a threat, and it is essential they implement strategic planning in their business plans to ensure success.
Gift card sales surge over first Covid Christmas, research shows Print
The pandemic resulted in gift card sales soaring at Christmas, new research reveals.
A survey of 2,000 Brits, carried out by the Gift Card & Voucher Association (GCVA) and GlobalData, has revealed that 25% of Brits purchased gift cards for others in December, compared with 18% in November, with 24% of these directly highlighting lockdown restrictions as their reason for doing so.
Single-store gift cards were the gift of choice in December over multi-store alternatives, with 56% of gift card buyers purchasing single-store cards, compared with 32% for multi-store cards. Gaming gift cards also saw a notable uplift, with 11% of gift card buyers purchasing, compared with 8% in November, demonstrating gaming’s continued popularity as a hobby during lockdown.
Louise Moody feels a frisson of excitement as she gazes at the beautifully wrapped gift bearing her name beneath the Christmas tree.
For come Christmas morning she knows there ll be none of the old dread that her presents might be ill-fitting clothes, shoes she doesn t like, or even a vacuum cleaner like one a friend s husband once treated her to.
Because three years ago Louise, 47, put a stop to feigned delight. Now, opening her festive gifts is, she says, utterly thrilling.
Why? Because she buys them for herself and with some style. Her first to me, from me gift was a 1.78-carat aqua blue diamond and platinum ring costing £4,500 for Christmas 2017.