GCVA Consumer Report April 2023

See top-line findings below:

• Inflation continues to impact spending on non-essential items, with UK retail spend forecast to be £374.9bn in ’23

• Retail gift card purchasing at its highest level since we began tracking – shoppers continue to prioritise key occasions

• Opportunities for employers to leverage gift cards as a support mechanism – the proportion buying them via an employee benefit programme was higher than in both February ’23 and March ’22

• Consecutive months of solid performance for digital – shoppers are comfortable using digital gift cards, and more operators are investing in digital options

• Experience gift cards experience lower demand, though it should remain robust for those who choose to staycation this summer

• Leisure activities (travel, theatre tickets, spa days) saw an increase over March ’22 – a sign that businesses are almost back to full capacity

• Gift card demand was weaker over March ‘22, though there are plentiful opportunities for the industry to promote the benefits in the current climate