B2B gift card and voucher sales grew by 5.56% in the first quarter (Q1) of 2014 contributing to a 10.53% growth across the industry, according to statistics from The UK Gift Card & Voucher Association (UKGCVA), the trade body representing the key players in the GBP5bn gift voucher, cards and stored value solutions market.
A new report compiled independently by consultants at BDO shows that in the first quarter of 2014 B2B sales of gift cards and vouchers grew by 5.56% over the period of January-March 2014.
Strong growth was seen in the sales of category specific gift cards, the largest channel in the B2B market with an overall increase of 7.9%. Both direct and online B2B sales also witnessed growth in this quarter of 5.61% and 3.93% respectively.
Andrew Johnson, director-general of UKGVCA, comments: “Corporate sales of gift cards and vouchers continue to grow overall. This growth demonstrates how more and more companies value the benefits of using gift cards and vouchers to incentivise customers or reward employees.”
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