United Kingdom Gift Card and Incentive Card Market Report 2024 - Retailers have Experienced a Strong Surge in Gift Card Revenue Amid Increasing Adoption in the U.K. [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The UK gift card industry is expected to reach US$10.8 billion in 2024. The gift card industry in United Kingdom will continue to grow over the forecast period and is expected to record a CAGR of 6% during 2024-2028. The market is forecast to increase from US$10.1 billion in 2023 to reach US$13.7 billion by 2028. The adoption of gift cards is growing at an accelerated pace and the trend is projected to continue further over the medium term. Retailers have experienced strong gift card revenue growth over the last 12 months amid the soaring demand driven by higher inflation and the cost-of-living crisis in the United Kingdom Distribution is seen as the key element in terms of higher gift card revenues for retailers. Consequently, the publisher expects more retailers to partner with providers that have a strong infrastructure and distribution network in the United Kingdom over the medium term. Businesses are also seeking to tap into the growing B2B gift card market through the launc
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