As the cost of living crisis begins to bite, research shows that more consumers are making the switch to gift cards like the Newport Now Gift Cards in an effort to reduce waste.
Over 24% of consumers say they’ll choose gift cards this Christmas in an effort to reduce waste and avoid the risk of buying unwanted gifts, reveals new research from gift card providers Miconex.
The backers of the Newport Now Gift Card say that 95% of consumers are planning to buy at least one gift card for Christmas 2022, with 38% of people saying they’ll buy between four and six gift cards.
Newport Now BID manager Kevin Ward said the need to avoid wasteful gifting is stronger than ever.
“YouGov data shows that 24.8million adults in the UK will give gifts this Christmas, 47% of the UK population.
“Yet, we also know from Gift Card and Voucher Association (GCVA) data that since the start of 2022, 46% of the UK population say they are either slightly (35%) or significantly (11%) worse off. People are starting to feel the pinch and the last thing they want to do is waste money on gifts that friends and family don’t want or need.
“In our research, as well as consumers looking to gift cards as a means to reduce the waste of unwanted gifts, 33% said that they choose gift cards as presents because they’re easier to buy and send.
“It reduces the costs of packaging and delivering gifts, and can often reduce the cost of overall spending on Christmas presents. 24% also said that buying gift cards saves time in searching for gifts.”
Newport Now’s gift card launched in the city centre in 2017 as a means to encourage local shopping and provide support for local businesses.
The Newport Now Gift Card can be spent with over 60 shops, restaurants, attractions, salons and service providers in the city centre, and is part of the award winning Town & City Gift Card initiative from fintech company Miconex.
Cards are available to buy from £5 to £500 online at www.newportgiftcard.co.uk
Mr Ward said every Newport Now Gift Card purchased is money locked in locally for the town/city:
“The desire to ‘love where you live’ is as strong as ever with over 90% of people saying they’re keen to support local this Christmas.
“Giving a Newport Now Gift Card is a way to give a loved one ultimate choice in how they spend and enjoy their present and avoid wasteful gifting, whilst locking in spend into our local area.”
To find out more visit: www.newportgiftcard.co.uk