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Gift card sales surge over first Covid Christmas, research shows

Gift card sales surge over first Covid Christmas, research shows

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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.

Gift cards swelled in popularity throughout 2020 as the UK sought to lift the spirits of loved ones in isolation. GCVA research found that gift cards were in fact preferred to physical gifts in the first lockdown, making up 14% of total gifting spend, compared with physical gifts at 12%.

Gail Cohen, director-general of the GCVA, said: “Over the past year, the rise of digital gifting solutions in particular is driving a major change in how we send and receive gifts, meaning they can be shared and enjoyed almost instantly, offering a safe way of gifting that still offers that truly personal touch. That said, physical gift cards having performed strongly too indicates the importance of retailers continuing to offer that tangible solution that consumers can still “unwrap” on the big day.

“If you did receive a gift card for Christmas this year, whether physical or digital, don’t just leave it in the bottom drawer and forget about it. It’s not a savings product, it is there for you to treat yourself, and what better time could there be to give yourself a boost than now? Many gift cards can be spent online from the comfort of your home, so log on and start spending.”

Reports from https://www.talkingretail.com

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