Incentives and recognition 'increasingly linked to gift cards and vouchers'

Date: 16/02/2010

The number of businesses adopting the practice of using vouchers and gift cards as part of an incentives and recognition scheme is on the rise, according to the latest data from a leading organisation.

In the report compiled by the UK Gift Card & Voucher Association (UKGCVA) and the British Retail Consortium, sales of gift cards and vouchers in quarter four of 2009 grew by 3.7 per cent, with pronounced Christmas sales, when compared to the same period in 2008.

It was believed that the figure was also largely underpinned by sales to the consumer market which grew by 4.1 per cent alone, proving that such incentives and recognition is popular across a number of areas.

Andrew Johnson, the director-general of the UKGCVA, said: "The development of prepaid cards and also the vast range of gifts that vouchers can now be redeemed against means that they will continue to cater for a diverse range of needs across both the B2B [business-to-business] and consumer sectors."

The UKGCVA is the trade body representing gift vouchers and gift cards across the country and the association represents most key players in the market, which is worth around £3.2 billion a year in the UK.

Posted by Jo Morgan
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Incentives and recognition 'increasingly linked to gift cards and vouchers'

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