UK gift card industry continues to grow strongly

According to the Global Gift Card Survey for the fourth quarter of 2021, the UK gift card industry is growing at an annual rate of 10.3% and is expected to reach US$947.9 million in 2022. Under the influence of the epidemic, gift certificates given as gifts have clearly played their advantages after consumers found ways to support businesses and give gifts digitally .

Data shows that the gift card industry in the UK is expected to grow steadily in the first half of 2022 and achieve strong growth in the second half of 2022. The growth momentum will continue during the forecast period, and the country's gift card market is expected to increase from US$8,594.6 million in 2021 to US$13,241.5 million in 2026.

Meanwhile, consumer demand for gift cards remains strong as Brits maintain their enthusiasm for digital gifting solutions . For this reason, companies in the country are launching more gift cards to expand digital gifting options.

In November 2021 , Airbnb announced the launch of its digital gift cards in the UK. The launch of the digital gift card program is a strategic one for two main reasons :

First, it will make it easier for customers to give friends, family, and loved ones the gifts they want during the 2021 holiday season .

Second, the global supply chain crisis has led to product shortages. As a result, more and more consumers in the UK need gift cards to solve the problem of gift giving . In fact, industry data shows that global consumers plan to spend about 35% of their holiday gift budget on gift cards in 2021.

It can be seen that the gift card market is profitable . At the same time, the UK gift card market is one of the most profitable markets for global gift card companies to expand and develop their businesses. In addition, consumer preference for gift cards has also surged in the past four to eight quarters and is expected to continue its upward momentum. All these factors have contributed to the global gift card players' favor for the UK market .

It is understood that as British consumers increasingly adopt cryptocurrencies, gift card retailers are also innovating their services to provide consumers with a variety of different payment methods, including cryptocurrencies.

U.K.

Gift Cards

Product Market