Feature: Choice of redemption

Five years ago, work had just begun on the building of the new Wembley and the bid to hold the 2012 Olympics was just a dream. The news from America was of a plastic revolution that would change the shape of the UK Gift Voucher market forever.

Paper Vouchers have for years provided millions of recipients with a tried, trusted and popular choice of reward that gives them the choice and flexibility to redeem their voucher against a product or service that they actually want. In many ways the advance of technology has not changed that, people still demand flexibility and choice.

The John Lewis gift voucher has proved so popular with our customers over the years that we decided to focus on what the voucher could unlock rather than what the voucher was printed on. This has been an important step forward and has proven what a great hit a mutli-channel redemption voucher can be. To have a reward that can be spent irrespective of where you live as long you have access to the internet or near a phone offers the ultimate solution. Our gift vouchers can now be redeemed in any of our department stores and Waitrose food shops. In addition they can also be redeemed online at johnlewis.com, Ocado, Waitrose and Waitrose Wine Direct.

Businesses will always need to reward and motivate their customers and staff, so vouchers in what ever format they take in the future will continue to play a pivotal role in motivating and rewarding. They are seen as a more popular solution than a gift or cash based solution, which is always hard to get right when buying for a specific individual. Cash has also been seen as having no trophy value and can be often end up being used on every day essentials, rather than be using as a personnel reward or treat.

Over the next five years technological advances will continue to evolve and shape the voucher market. The debate will continue on whether there is still a place for paper vouchers. However what will never change is choosing the right gift solution so the customer or employee feels tangibly rewarded. It will also be just as important that the solution is going to offer a choice of products or a lifestyle reward that fits with the individual recipient.

In five years time Olympic fever will be griping the nation and Wembley will have played host to innumerable concerts and cup finals.

As for whether gift cards will have replaced gift vouchers as the reward of choice in the UK we'll have to wait and see. However I suspect there's more chance of a rejuvenated Brighton appearing in the 2012 Community Shield final as Premiership Champions!