BRC supports gift card campaign to boost retail footfall

The Gift Card and Voucher Association (GCVA), supported by the British Retail Consortium (BRC) and the Association of Town and City Management (ATCM), has urged the government to take action to save the high street.

The campaign, #GiftCard500, calls on the government to increase the tax-free employer gifting allowance from 50 pounds to 500 pounds.

If just one in ten paid employees was rewarded with a 500 pound gift card, this, plus the 67.1 percent in-store uplift (GCVA), would equate to over two billion pounds extra in the gift card industry, which is already worth seven billion pounds per year.

The BRC and ATCM’s support for the initiative follows the most recent BRC ShopperTrak footfall monitor reporting that year-on-year retail footfall dropped by almost 31.1 percent in September.

Gail Cohen, director general of the GCVA, said in a statement: “The effects of lockdown and social distancing, already felt keenly by both high street businesses and the national workforce, now look likely to continue for at least another six months.

“If the tax-free limit for employee gifting was to be raised permanently, and even just a small portion of businesses took advantage of the new legislation to thank their loyal staff, millions of shoppers would have money in their pocket to spend on the high street.”

The #GiftCard500 campaign has also been backed by high street businesses including Dixons Carphone, Marks & Spencer, Virgin Experience and Love2Shop.

Andrew Cregan, head of finance policy at the BRC, added: “Gift cards have long been an integral tool for retailers across all sectors looking to boost footfall and profitability, and this is exactly what this initiative would achieve.

“The gift card and retail industries are ready to work with the necessary parties to implement to the initiative, and we now urge the Government to step up and make this happen.”

Photo credit: GCVA