One4All Posts Record Voucher Redemptions In 2016

By Donna Ahern
One4All Posts Record Voucher Redemptions In 2016

The Gift Voucher Shop (GVS), the company behind the One4all multi-store gift card brand, has reported record growth of 33.2% in redemptions in 2016, as consumers spent more on travel, phones and electrical items during the year.

In total, €114 million of GVS vouchers were redeemed in 2016 compared to €85.8 million in 2015. In December the value of redemptions rose to €35 million from €27.9 million in the same month a year ago.

More than double the value of redemptions was spent on travel in 2016 compared to 2015, with the value of redemptions increasing by 42% in the hotel and spas sector. The trend of increased redemptions continued in 2017, with February showing a 16% year-on-year increase.

The rise in redemptions is due to the overall sales growth of 21%, One4all recently reported, which the company has attributed to a range of factors. These include a heightened awareness of the BIK scheme that is now at €500, the addition of a number of high profile retailers to its already large network, an improved online purchasing process and wider distribution of sales outlets for the gift card.

The second-half of 2016 saw a weakening in consumer sentiment and the trend of online shopping continued to grow. This is in contrast to the record rise in redemption figures in the first months of 2017.

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Commenting on the figures, Michael Dawson, CEO and founder of One4all, said: “It has been a record year for One4all, which has been helped by the increasing breadth and scope of our retail offering. As the longest established omni-channel gift card provider in the country, One4all is delighted to see an increase in trade for retailers and another rise in corporate sales.

“This is a great boost for retailers, particularly in the SME sector, as consumer sentiment weakened in the second-half of 2016 and more people moved to online shopping. Gift cards promote shopping locally and encourage spending. This is clearly a welcome for many of our retailers,” he added.

“It’s also clear from the statistics that there has been a change in consumer spending habits, with more people opting to spend their rewards on holidays and hotels and luxury spas. This shows a growing confidence in the outlook of the consumer,” Dawson concluded.

© 2017 - Checkout Magazine by Donncha Mac Cóil

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