The U.K.’s retail industry is seeing an uptick in gift card sales, indicating a potential boom on the high street. 

The U.K.’s retail industry is seeing an uptick in gift card sales, indicating a potential boom on the high street. Young Europeans’ finances took a hit during the pandemic, and the recent (and growing) cost-of-living crisis has only made things worse. But despite fears that shopping would stop altogether, new research from the Gift Card and Voucher Association (GCVA) says otherwise. The fashion industry is seeing one of the biggest booms, with sales up 63.8% over 2021, while sales of gift cards for experiences, travel and entertainment have risen 94%. YPulse research shows that young Europeans have been missing in-person experiences and travel after two years of being stuck at home, which could lead to an experience boom. Meanwhile, cash-strapped Gen Z and Millennials will likely want gift cards for the holiday season, which could push their sales up even more. (The Industry Fashion)