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---
description: The new report combines member submissions with consumer research, separating an annual market estimate from £2.194bn of first-half sales reported by 29 members.
title: GCVA estimates UK gift-card market at £10.7bn as member sales rise 19%
image: https://giftcard.news/images/social/v1/gcva-estimates-uk-gift-card-market-10-7bn-member-sales-rise-19-5b90676e773c176ba986d138bd2a39e4.jpg
---

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# GCVA estimates UK gift-card market at £10.7bn as member sales rise 19%

The new report combines member submissions with consumer research, separating an annual market estimate from £2.194bn of first-half sales reported by 29 members.

By [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 25, 2026 4 min read [ Google News ](https://google.com/preferences/source?q=giftcard.news&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) 

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![Cover of the GCVA UK gift-card and voucher market summary report for the first half of 2026](https://giftcard.news/images/variants/v1/gcva-estimates-uk-gift-card-market-10-7bn-member-sales-rise-19-w846.webp) 

 GCVA released the public summary of its H1 2026 Sales Analysis and Outlook report on September 25. Photo: Gift Card & Voucher Association 

The [Gift Card & Voucher Association](https://giftcard.news/organization/gift-card-and-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. [\[S01\]](#article-source-1)

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\. [\[S02\]](#article-source-2)

## 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%.

The data behind the story 

### 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 

% of cohort value

Tap or hover for details. All values are also available in the data table.

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.

Show data tableHide data table 

Scroll left or right to see all columns 

__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. [\[S02\]](#article-source-2)

## 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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## In this article

### Companies

* [Two Igloos](https://giftcard.news/company/two-igloos/)

### Organizations

* [Gift Card and Voucher Association](https://giftcard.news/organization/gift-card-and-voucher-association/)

### Sources and documents

* [\[S01\] Original report announcement, September 25, 2026](https://gcva.co.uk/knowledge-hub/research-data-reports/sales-analysis-and-market-insight/gcva-h1-2026-sales-analysis-outlook-report/?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — Gift Card & Voucher Association
* [\[S02\] Public H1 2026 summary report](https://gcva.co.uk/wp-content/uploads/2026/09/FINAL-2026-H1-Summary-Report.pdf?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — Gift Card & Voucher Association

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![Portrait of Oliver Reed](https://giftcard.news/images/variants/v1/oliver-reed-editorial-portrait-w320.webp) 

About the author

## [Oliver Reed](https://giftcard.news/author/oliver-reed/)

Journalist — Industry Deals & Research

Oliver Reed covers industry acquisitions, investment and market research for Gift Card News.

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