B2B gift card and voucher sales in the second quarter (Q2) of 2012 contributed to the steady 5% 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 billion gift voucher, cards and stored value solutions market.
The report, compiled independently by consultants at Ernst & Young, shows just how significant the corporate sector continues to be to the gift card and voucher industry, with sales up by almost 9%.
Growth was witnessed across all types of B2B gift card sales – closed loop, restricted loop, and open loop. Restricted loop gift cards proved to be the most dynamic voucher type with B2B sales climbing 44% in Q2. Furthermore, all channels showed growth in the B2B field – with online sales increasing twofold compared to the same time in 2011.
Andrew Johnson, director-general of the UKGCVA, comments:
“Although growth has slowed ever so slightly compared to previous quarters, with all channels and all gift card types proving popular with corporates, we remain optimistic that this corporate growth can be sustained. With a more considered and value conscious consumer emerging from the recession, business investment in voucher schemes will remain crucial to growth in the market as we move into the second half of the year.
This trend shows that 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.”