Many UK retailers are beginning to experience the positive impact on their bottom line of signing up to open loop, multi-store prepaid gift card schemes, allowing consumers the opportunity to redeem their gift in a huge variety of stores nationwide.
As a retail partner within these schemes, stores have access to a share of a market that is now worth £5 billion annually, as well as potential uplifts in sales generated by top-up spending and by having new customers introduced to their stores.
This is helping many high street brands to fight back against the erosion of consumer spending. With the share of money spent on the high street falling each year – from 49% in 2000 to a predicted share of 39% this year – multi-retailer gift cards provide an incentive to make shopping an occasion and remind consumers of the pleasure to be gained from browsing stores in order to treat themselves.
In the full report below, we have provided a detailed breakdown of the current nature of the gift card market, the facts about the benefits that it brings and how retailers are capitalising on the opportunity offered by this growing market.
To find out more about accepting the One4all Gift Card in your store, click here.