New research from the UK Gift Card & Voucher Association
(UKGCVA) shows that 54 percent of the United Kingdom's $8.2-billion gift card market is B2B.
Additionally, spending on B2B gift cards is on the rise; direct gift card sales, which account for 97 percent of the B2B market, rose 5.6 percent and online gift card sales rose 3.93 percent in the first quarter of 2014. The majority of B2B spending was reserved for employee incentives.
In the B2B space, plastic gift cards are more prominently used than paper vouchers. Sales of category-specific cards, which account for 41.8 percent of the market, grew 7.9 percent in the first quarter as well.