B2B gift card and voucher sales grew by 9.7% in the first half (H1) of 2015 according to statistics from The UK Gift Card & Voucher Association (UKGCVA), the trade body representing the key players in the £5.4 billion gift voucher, cards and stored value solutions market.
A report compiled independently by BDO shows that a 9.7% increase in B2B sales over the period of January-June 2015. In addition, the total gift card and voucher market grew by 6.73% in H1.
As a result of this strong growth, B2B sales have gained a large proportion of market share. For the period, B2B gift card and voucher sales outstripped B2C sales, making up 60.73% of the market share.
Gail Cohen, director-general of UKGVCA said: "The growth in corporate gift cards and vouchers has increased at such a rate that B2B sales outstripped B2C sales so far this year. This trend demonstrates the ever-growing popularity of gift cards and vouchers as an incentivising and motivational tool in the work place.
“The increase in the diversity of products available is also encouraging, and shows that the gift card and voucher market has the required adaptability to meet consumer demands.”
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