+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

United Kingdom Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast - Q2 2023 Update

  • PDF Icon

    Report

  • 268 Pages
  • August 2023
  • Region: United Kingdom
  • PayNXT360
  • ID: 4751515
According to the publisher, the gift card industry in United Kingdom is expected to grow by 5.5% on annual basis to reach US$10.3 billion in 2023. In value terms, the gift card market in United Kingdom has recorded a CAGR of 6.7% during 2018-2022.

The gift card industry in United Kingdom will continue to grow over the forecast period and is expected to record a CAGR of 6.4% during 2023-2027. Gift card market in the United Kingdom will increase from US$9.7 billion in 2022 to reach US$13.2 billion by 2027.

Gift card market in 2022 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.

In H1 2022, the demand for gift cards was driven by the post-Covid resurgence for the high street in the United Kingdom. In H2 2022, the cost of living and inflationary pressures has impacted the growth momentum of the gift card industry. In their effort to keep the gift-buying process more affordable, brits are turning to digital gift card solutions to avoid high fuel prices. Furthermore, to avoid inflation on popular items, brits are buying gift cards from popular brands.

From the short to medium-term perspective, the sale of gift cards is also expected to be driven by self-usage, as consumers seek ways to limit their spending or to access discounts and rewards. Moreover, to drive their sales, supermarkets are expected to launch gift card programs, which reward consumers for their shopping. The usage of gift cards is likely to grow significantly, as businesses look for ways to reward and support their employees who are struggling with the rising cost of living.

Innovative and sustainable digital gift card marketplace launched in the United Kingdom

More and more consumers are shopping for brands that are eco-friendly and provide sustainable shopping choices. Catering to these demographics, an innovative and sustainable digital gift card marketplace has been launched in the United Kingdom, which only offers gift cards from sustainable brands.
  • In November 2022, dinkm, a digital gift card marketplace for sustainable brands, announced the launch of its operations in the United Kingdom. The marketplace has positioned itself for any consumer who embraces a sustainable lifestyle. Consequently, the platform only deals in digital gift card solutions and offers gift cards from brands that are following sustainable practices.
The marketplace offers gift card solutions across different categories, including fashion, pets, travel, health, and beauty, among others.

With many consumers in the United Kingdom struggling to find eco-friendly gifting options, dinkm is expected to gain increasing traction among brits for its sustainable gift card services from the short to medium-term perspective.

Gift card service providers are raising capital to further expand their geographical footprint

An increasing number of brands and corporates are launching their gift card programs to support customers and employees in times of rising inflation and the surging cost of living. With the demand for gift cards growing globally, firms in the United Kingdom are raising capital to further boost their presence in the global market.
  • In November 2022, WeGift, the United Kingdom-based gift card provider, announced that the firm had raised £26 in its Series B round. The firm is planning to use the fresh capital to further expand its international presence and launch operations for more global brands. Currently, the API-driven software platform is used by over 100 brands. Nike, Aldi, and Airbnb are among the many that are using the platform to disburse gift cards.
With the gift card ecosystem becoming more competitive amid rising demand, more firms are expected to raise funding rounds, which will also drive the growth of the overall gift card industry over the next three to four years.

Hospitality firms are launching gift card sales events before the year-end holiday season in the United Kingdom

After two years of pandemic-induced travel restrictions, the travel and tourism sector has posted a strong recovery in 2022 and the year-end holiday season is expected to generate higher revenue for hospitality firms offering hotels, resorts, and vacation properties. To capitalize on the pent-up travel demand among travelers in the United Kingdom, hospitality firms are launching discounted gift card programs.
  • In November 2022, Accor, one of the leading hospitality firms, announced that Accor Live Limitless (ALL) members are eligible to purchase gift cards that are loaded with a 20% bonus amount. The firm had made these gift cards valid for 12 months, thereby making them more attractive for travelers. Accor also launched a similar gift card program for its members in Germany.
With the rising cost of living, more and more brands across industry verticals are expected to launch such discounted gift card sales events from the short to medium-term perspective. This will keep driving the growth of the gift card industry in United Kingdom and the global market.

This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at United Kingdom level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.

Scope

Total Spend on Gifts in United Kingdom

  • By Consumer Segment (Retail and Corporate)
  • By Product Categories (13 Segments)
  • By Retail Sectors (7 Segments)

Gift Card Market Size by KPIs across Consumer Segments in United Kingdom

  • Gross Load Value
  • Transaction Value
  • Unused Value
  • Average Value Per Transaction
  • Transaction Volume
  • Average Value of Card Purchased
  • Number of Cards

Gift Card Market Size by Consumer Segment in United Kingdom

  • Retail Consumer
  • Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Digital Gift Card Market Size in United Kingdom

  • By Retail Consumer
  • By Retail Purchase Occasion
  • By Corporate Consumer
  • By Corporate Purchase Occasion
  • By Company Size

Gift Card Market Size by Retail Consumer in United Kingdom

  • By Functional Attribute
  • By Occasion
  • Festivals & Special Celebration Days
  • Milestone Celebration
  • Self-Use
  • Other
  • Value by Purchase Channel

Gift Card Spend by Consumer Behavior and Demographics in United Kingdom

  • Consumer Purchase Behaviour
  • Gift Card Buyer by Age Group
  • Gift Card Buyer by Income Level
  • Gift Card Buyer by Gender

Gift Card Market Size by Corporate Consumer in United Kingdom

  • By Functional Attribute
  • By Occasion
  • Employee Incentive
  • Sales Incentive
  • Consumer Incentive
  • By Scale of Business

Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in United Kingdom

  • Food & Beverage
  • Health, Wellness & Beauty
  • Apparel, Footwear & Accessories
  • Books & Media Products
  • Consumer Electronics
  • Restaurants & Bars
  • Toys, Kids, and Babies
  • Jewelry
  • Sporting Goods
  • Home & Kitchen Accessories & Appliances
  • Travel
  • Entertainment & Gaming
  • Other

Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in United Kingdom

  • Ecommerce & Department Stores
  • Restaurants & Bars
  • Supermarket, Hypermarket, Convenience Store
  • Entertainment & Gaming
  • Specialty Stores
  • Health & Wellness
  • Travel

Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in United Kingdom

  • Gift Card Online Sales
  • Gift Card Offline Sales
  • 1st Party Sales
  • 3rd Party Sales
  • Sales Uplift

Reasons to buy

  • In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2018-2027) for gift cards and incentive cards in the United Kingdom.
  • Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
  • Get insights into consumer attitude and behaviour in the United Kingdom: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
  • Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
  • Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
Frequently Asked Questions about the United Kingdom Gift Card and Incentive Card Market

What is the estimated value of the United Kingdom Gift Card and Incentive Card Market?

The United Kingdom Gift Card and Incentive Card Market was estimated to be valued at $10.29 Billion in 2023.

What is the growth rate of the United Kingdom Gift Card and Incentive Card Market?

The growth rate of the United Kingdom Gift Card and Incentive Card Market is 6.4%, with an estimated value of $13.18 Billion by 2027.

What is the forecasted size of the United Kingdom Gift Card and Incentive Card Market?

The United Kingdom Gift Card and Incentive Card Market is estimated to be worth $13.18 Billion by 2027.

Table of Contents

1 About this Report
1.1 Summary
1.2 Methodology
1.3 Definition
1.4 Disclaimer
2 United Kingdom Total Gift Spend Analyzer
2.1 Total Spend on Gift by Value - Market Size and Forecast, 2018-2027
2.2 Total Spend on Gift by Volume - Market Size and Forecast, 2018-2027
2.3 Total Gift Spend Market Share Analysis by Consumer Segment, 2018-2027
2.4 Gift Spend Market Size and Forecast Analysis by Product Category
2.5 Gift Spend Market Share Analysis by Product Category
2.6 Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
2.7 Total Gift Spend Market Share Analysis by Retail Sector
3 United Kingdom Retail Consumer Gift Spend Analyzer
3.1 Retail Consumer Spend on Gift - Market Size and Forecast, 2018-2027
3.2 Retail Consumer Gift Spend Market Analysis by Volume, 2018-2027
3.3 Retail Consumer Gift Spend Market Size and Forecast Analysis by Product Category
3.4 Retail Consumer Gift Spend Market Share Analysis by Product Category
3.5 Retail Consumer Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
3.6 Retail Consumer Total Gift Spend Market Share Analysis by Retail Sector
4 United Kingdom Corporate Consumer Gift Spend Analyzer
4.1 Corporate Consumer Spend on Gift - Market Size and Forecast, 2018-2027
4.2 Corporate Consumer Gift Spend Market Analysis by Volume, 2018-2027
4.3 Corporate Consumer Gift Spend Market Size and Forecast Analysis by Product Category
4.4 Corporate Consumer Gift Spend Market Share Analysis by Product Category
4.5 Corporate Consumer Total Gift Spend Market Size and Forecast Trend Analysis by Retail Sector
4.6 Corporate Consumer Total Gift Spend Market Share Analysis by Retail Sector
5 United Kingdom Gift Card Spend Analyzer
5.1 Gift Card Spend Market Size and Forecast, 2018-2027
5.2 Gift Card Spend Market Analysis by Transaction Value and Volume, 2018-2027
5.3 Gift Card Spend Market Analysis by Avg. Value and Unused Value, 2018-2027
5.4 Gift Card Spend Market Share Analysis by Consumer Segment
5.5 Gift Card Spend Market Share Analysis by Functional Attribute
5.6 Digital Gift Card Spend Market Size and Forecast, 2018-2027
6 United Kingdom Digital Gift Card Spend Analyzer
6.1 Digital Gift Card Market Size and Forecast, 2018-2027
6.2 Digital Gift Card Penetration by Occasion, 2018-2027
6.3 Retail Consumer Digital Gift Card Market Size and Forecast, 2018-2027
6.4 Retail Consumer Digital Gift Card Spend Market Share Analysis by Occasion, 2018-2027
6.5 Corporate Consumer Digital Gift Card Market Size and Forecast, 2018-2027
6.6 Corporate Consumer Digital Gift Card Spend Market Share Analysis by Occasion, 2018-2027
6.7 Corporate Consumer Digital Gift Card Spend Market Share Analysis by Company Size
6.8 Large Enterprise Segment Digital Gift Card Spend Analysis
6.9 Mid-Tier Segment Digital Gift Card Spend Analysis
6.1 Small Scale Segment Digital Gift Card Spend Analysis
7 United Kingdom Gift Card Spend Share by Demographics and Purchase Behaviour
7.1 Gift Card Spend Share by Age, Income, and Gender
7.2 Digital Gift Card Spend Share by Age, Income, and Gender
7.3 Gift Card Consumer Purchase Behaviour
7.4 Corporate Consumer Gift Card Spend by Company Type
8 United Kingdom Retail Consumer Gift Card Spend Analyzer
8.1 Retail Consumer Gift Card Spend Market Size and Forecast, 2018-2027
8.2 Retail Consumer Gift Card Spend Market Share Analysis by Occasion, 2018-2027
8.3 Retail Consumer Gift Card Spend Market Share Analysis by Functional Attribute
8.4 Retail Consumer Digital Gift Card Spend Market Size and Forecast, 2018-2027
9 United Kingdom Retail Consumer Gift Card Spend Analysis by Functional Attribute
9.1 Retail Consumer Gift Card Spend Market Size and Forecast - Open Loop vs. Closed Loop, 2018-2027
9.2 Retail Consumer Open Loop Gift Card Spend Market Size and Forecast, 2018-2027
9.3 Retail Consumer Closed Loop Gift Card Spend Market Size and Forecast, 2018-2027
9.4 Retail Consumer Average Value of Gift Card Purchased by Functional Attribute
10 United Kingdom Retail Consumer Gift Card Spend Analysis by Occasion
10.1 Retail Consumer Gift Card Spend Market Share Analysis by Occasion, 2018-2027
10.2 Retail Consumer Gift Card Spend Market Size and Forecast - Festivals & Special Celebration Days, 2018-2027
10.3 Retail Consumer Gift Card Spend Market Size and Forecast - Milestone Celebration, 2018-2027
10.4 Retail Consumer Gift Card Spend Market Size and Forecast - Self-Use, 2018-2027
10.5 Retail Consumer Gift Card Spend Market Size and Forecast - Other, 2018-2027
11 United Kingdom Corporate Consumer Gift Card Spend Analyzer
11.1 Corporate Consumer Gift Card Spend Market Size and Forecast, 2018-2027
11.2 Corporate Consumer Gift Card Spend Market Share Analysis by Occasion, 2018-2027
11.3 Corporate Consumer Gift Card Spend Market Share Analysis by Functional Attribute
11.4 Corporate Consumer Digital Gift Card Spend Market Size and Forecast, 2018-2027
12 United Kingdom Corporate Consumer Gift Card Spend Analysis by Functional Attribute
12.1 Corporate Consumer Gift Card Spend Market Size and Forecast - Open Loop vs. Closed Loop, 2018-2027
12.2 Corporate Consumer Open Loop Gift Card Spend Market Size and Forecast, 2018-2027
12.3 Corporate Consumer Closed Loop Gift Card Spend Market Size and Forecast, 2018-2027
12.4 Corporate Consumer Average Value of Gift Card Purchased by Functional Attribute
13 United Kingdom Corporate Consumer Gift Card Spend Analysis by Occasion
13.1 Corporate Consumer Gift Card Spend Market Share Analysis by Occasion, 2018-2027
13.2 Corporate Consumer Gift Card Spend Market Size and Forecast - Employee Incentive, 2018-2027
13.3 Corporate Consumer Gift Card Spend Market Size and Forecast - Sales / Channel Incentive, 2018-2027
13.4 Corporate Consumer Gift Card Spend Market Size and Forecast - Consumer Incentive, 2018-2027
14 United Kingdom Corporate Consumer Gift Card Spend Analysis by Company Size
14.1 Corporate Consumer Gift Card Spend Market Share Analysis by Company Size
14.2 Corporate Consumer - Large Enterprise Segment - Gift Card Spend Market Size and Forecast, 2018-2027
14.3 Corporate Consumer - Mid-Tier Segment - Gift Card Spend Market Size and Forecast, 2018-2027
14.4 Corporate Consumer - Small Scale Segment - Gift Card Spend Market Size and Forecast, 2018-2027
15 United Kingdom Corporate Consumer Gift Card Spend Analysis by Company Size X Functional Attribute
15.1 Large Enterprise Segment Gift Card Spend Market Share Analysis by Functional Attribute
15.2 Mid-Tier Segment Gift Card Spend Market Share Analysis by Functional Attribute
15.3 Small Scale Segment Gift Card Spend Market Share Analysis by Functional Attribute
16 United Kingdom Gift Card Spend Analysis by Distribution Channel
16.1 Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2020-2027
16.2 Retail Consumer Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2020-2027
16.3 Corporate Consumer Closed Loop Gift Card Spend Market Size and Forecast by Distribution Channel - Online vs. Offline, 2020-2027
16.4 Gift Card Spend Market Size and Forecast by Online Distribution Channel - 1st Party Sales vs. 3rd Party Sales, 2020-2027
17 United Kingdom Gift Card Spend Analysis by Retail Sector
17.1 Gift Card Spend Market Size and Forecast by Retail Sector, 2018-2027
17.2 Total Gift Card Spend Market Share Analysis by Retail Sector
17.3 Sales Uplift by Retail Sector, 2022
18 United Kingdom Retail Consumer Gift Card Spend Analysis by Retail Sector
18.1 Retail Consumer - Gift Card Spend Market Size and Forecast by Retail Sector, 2018-2027
18.2 Retail Consumer Gift Card Spend Market Share Analysis by Retail Sector
19 United Kingdom Corporate Consumer Gift Card Spend Analysis by Retail Sector
19.1 Corporate Consumer - Gift Card Spend Market Size and Forecast by Retail Sector, 2018-2027
19.2 Corporate Consumer Gift Card Spend Market Share Analysis by Retail Sector
20 United Kingdom Closed Loop Gift Card Market Share Analysis by Top Retailers

Samples

Loading
LOADING...

Companies Mentioned

  • Tesco Plc
  • Associated British Foods Plc
  • Next Plc
  • J Sainsbury Plc
  • Wal-Mart Stores Inc
  • TJX Cos Inc, The
  • Wm Morrison Supermakets Plc
  • Amazon.com Inc