UKGCVA Q2 Stats

Thursday, 12 August 2010

Sharpest gift card growth ever recorded at 22%!

According to the latest figures from The UK Gift Card and Voucher Association's (UKGCVA) Q2 Ernst & Young Market Report, voucher sales in Q2 have shown their sharpest growth ever recorded, driven by impressive gains across the board.

Reported UKGCVA voucher sales on a like-for-like basis have shown exceptional growth of 22% in Q2 2010 to £388.5m.This buoyant return to double-digit growth is somewhat surprising given the slight slowdown in sales over the previous two quarters. The UKGCVA suggests that this sharp upward trend is helped by the relative youth and dynamism of the voucher market but it is quick to add that it is also the results of the increasing popularity of new formats and channels.

Highlights of the report include:

• Business-to-business sales up by 20%; consumer sales up by 24%.
• Agents continue to make gains, with sales up 37% this quarter.
• Leisure category is up by 11% .
• Sales in the Retailers category leapt by 20%, impressive against overall retail sales that are only showing signs of modest growth.
• Gift card centres/malls are the most dynamic sales channel, with sales increasing by over 70%.
• Open Loop and Restricted Loop Gift cards remain the most buoyant voucher types, with sales now totalling £30m

Source : Global Prepaid Exchange