GCVA State of the Nation 2024 vol. 2

The seventh edition of this report presents the topline findings below:

1. 39.7% of buyers purchasing gift cards for self-use stated they were doing so to save money.

2. Employers saw gift cards as a good medium to provide additional support and incentives.

3. Among consumers who purchased at least one gift card over H1 2024, 31.1% had gone digital.

4. 14.8% cosumers intend to purchase more gift cards this Christmas vs last year, with 27.5% planning to buy the same amount.

5. Expiry dates were cited by 20% of UK consumers as a barrier to purchase, despite 99% of consumers typically redeeming within a year of receipt.

6. The reason ‘gift cards don’t feel thoughtful enough’, was cited as a barrier by 28% of all UK consumers, 33.1% of these being Baby Boomers.

7. Approx. a fifth of shoppers who bought gift cards for themselves cited the reason of wanting to support local businesses.

8. Among those who received a gift card in the past year, 63% had been introduced to a new brand via gift cards, with 22% becoming regular customers.

9. Regarding spending or redeeming, 61% of shoppers claim to have spent more than the value of the gift card when using it.

10. 55.3% of GCVA members have highlighted personalised products being an important trend for the industry in the next 1-3 years.