As per the latest statistics, the United Kingdom witnessed a noteworthy surge in the sales of gift cards during the festive season due to the imposition of Covid-19 restrictions. The Gift Card & Voucher Association (GCVA) disclosed that in December, a significant 25.2% of Britons bought gift cards for their loved ones, in comparison to 17.9% in November. Moreover, a staggering 34.1% of individuals stated that the lockdown measures played a pivotal role in influencing their decision to opt for gift cards.
Leading brands like Tesco Bank observed a spike in the sales of gift cards, especially the digital variants that can be conveniently sent, received, and utilized through smartphone applications. This trend in gifting preferences is evidenced by the increased popularity of single-store gift cards (56.4%) over multi-store options (32.4%) in December. It showcases a shift towards a more personalized and considerate approach to gift-giving among the populace.
Furthermore, the GCVA highlighted that digital gifting accounted for 26% of the total gift card expenditure in the UK in the year 2020, with half of all gift cards being redeemed online. This trend towards digital gifting during the Christmas period could potentially signify a lasting transformation in the way individuals engage in gift-giving practices.
Gift cards emerged as a favorite choice for individuals looking to uplift the spirits of their isolated loved ones throughout 2020. During the initial lockdown phase, gift cards surpassed physical gifts, constituting 14% of the total gifting expenditure as opposed to physical gifts at 12%. The data underscores that gift cards have evolved into a meaningful and heartfelt method for people to stay connected and exhibit care, especially during demanding times such as the Covid-19 pandemic.
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