According to the latest research from the Gift Card & Voucher Association (GCVA) and KPMG UK, gift card and voucher sales continued to outshine broader retail trends in the second half of 2024.
Data from GCVA’s members showed that in the last six months of 2024, gift card and voucher sales surged by 11.39% on a like-for-like basis, marking the first double-digit growth since H1 2021. The data also reflects the increasing popularity of employer-sponsored gift card schemes.
Despite the growth of digital options, physical gift cards remain popular particularly for festive gifting, with over half (54%) of consumer sales from retail stores and 22% from gift card malls, where sales increased by 5.6% and 13.6% respectively.
“This report demonstrates the resilience and versatility of the gift card market,” stated GCVA’s managing director Hannah Shimko. “Gift cards are a vital tool helping consumers and businesses navigate challenging times. Whether it’s employers supporting staff through benefits schemes or consumers choosing flexible gifting options, the sector has shown remarkable adaptability.”
