GCVA Consumer Report March 2024

See top-line findings below:

• Retail spending growth is forecast to slow to 2.9% in 2024 

• Gift purchasing was markedly lower than February 2023 (35.0%)

• The proportion of those purchasing self-use cards that cited “to help with saving money” was 34.0% over February 2024

• With many employees attempting to get back on a financially even keel in the post-festive period, work programmes will represent a good route to provide additional support

• The proportion purchasing single-brand gift cards declined to 53.8% vs. 58.7% in February 2023

• Experience gift cards were the only other gift card type (aside from multistore) that saw year-on-year growth