B2B gift cards and vouchers see significant growth
Sales of B2B gift card and vouchers climbed by 11.98% in the fourth quarter of 2014 according to figures released by The UK Gift Card & Voucher Association.
A benchmarking report compiled by BDO shows the increase in the period contributed to an annual rise of 9.41% in B2B sales. In addition, the total gift card and voucher market grew by 8.43% in the fourth quarter and by 8.07% over the course of 2014.
As a result of this strong growth, B2B sales increased their market share to 50.43%.
Andrew Johnson, director-general of UKGVCA, said: “The growth in corporate gift cards and vouchers has increased at such a rate that, even with strong Christmas consumer sales, B2B sales outstripped B2C sales for 2014. 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.”
