Those are different measures. The £10.7 billion figure is a modelled annual estimate for the whole market. The £2.194 billion total and 19% growth rate describe the submitting-member cohort during the first six months of 2026. [S02]

Growth reaches most members, but varies in scale

Twenty-three of the 29 members reported year-on-year growth. The median member grew by 10%, below the aggregate 19% increase, indicating that larger contributors accounted for a disproportionate share of the additional value.

Business-to-business activity was the main driver. It represented 64% of the reported total, grew 24% and generated three-quarters of the absolute growth. Consumer sales held a 31% share and grew 7%; non-sale issuance, largely returns and refunds, accounted for the remaining 5%.

% of cohort value

Source

Original reported values

These categories partition the submitting cohort’s reported value, not the modelled whole UK market. Non-sale issuance includes returns and refunds. The survey-derived annual market estimate is a separate measure.

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Business buyers lead the submitting cohort’s value (% of cohort value)
Category	% of cohort value
B2B	64 % of cohort value
Consumer sales	31 % of cohort value
Non-sale issuance	5 % of cohort value

Within the benefits, employee savings and salary-sacrifice channel, the report gives a median share of 57% of a participating issuer's B2B business. That is a measure within those issuers' own books, not a statement that the channel represents 57% of all UK gift-card sales. [S02]

Digital gains extend across the cohort

Digital formats accounted for 70% of reported value and grew 27%, while physical formats increased 2%. Twenty-three of the 27 members reporting digital data recorded growth.

The format mix also differs by customer channel: digital represented 82% of B2B value and 46% of consumer value. B2B and digital are overlapping classifications, so their shares cannot be added together as separate sources

The Gift Card & Voucher Association has estimated the annual UK gift-card market at £10.7 billion by combining member sales submissions with consumer research for the first time. Its new H1 2026 report, published on September 25, also shows first-half sales among 29 contributing members rising 19% to £2.194 billion. [S01] Those are different measures. The £10.7 billion figure is a modelled annual estimate for the whole market. The £2.194 billion total and 19% growth rate describe the submitting-member cohort during the first six months of 2026. [S02] Growth reaches most members, but varies in scale Twenty-three of the 29 members reported year-on-year growth. The median member grew by 10%, below the aggregate 19% increase, indicating that larger contributors accounted for a disproportionate share of the additional value. Business-to-business activity was the main driver. It represented 64% of the reported total, grew 24% and generated three-quarters of the absolute growth. Consumer sales held a 31% share and grew 7%; non-sale issuance, largely returns and refunds, accounted for the remaining 5%. Business buyers lead the submitting cohort’s value Share of reported H1 2026 gift-card value among the 29 contributing GCVA members. % of cohort value B2B: 64 % of cohort value Consumer sales: 31 % of cohort value Non-sale issuance: 5 % of cohort value These categories partition the submitting cohort’s reported value, not the modelled whole UK market. Non-sale issuance includes returns and refunds. The survey-derived annual market estimate is a separate measure. Original reported values Within the benefits, employee savings and salary-sacrifice channel, the report gives a median share of 57% of a participating issuer's B2B business. That is a measure within those issuers' own books, not a statement that the channel represents 57% of all UK gift-card sales. [S02] Digital gains extend across the cohort Digital formats accounted for 70% of reported value and grew 27%, while physical formats increased 2%. Twenty-three of the 27 members reporting digital data recorded growth. The format mix also differs by customer channel: digital represented 82% of B2B value and 46% of consumer value. B2B and digital are overlapping classifications, so their shares cannot be added together as separate sources

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