Feature: Vouchers and gift cards: Prepare to be prepaid

Over the many years I have been in the industry, I have witnessed the growth and evolution of a market that has moved in leaps and bounds to revolutionise the methods of payment for goods and services as well as how gifts and rewards are delivered, received and then claimed. This is an industry that strives for innovation by continually responding to the call of consumer needs. It is an industry that relies on expert insight and understanding on where the market is heading.

There is no better place to see the current trends and latest innovations in the market than at the fifth annual Va Conference at the London Marriott Hotel, Grosvenor Square, on Tuesday 22 April. This provides the perfect opportunity for anyone with an interest in gift cards and vouchers to find out exactly what is making this expansive market tick in 2008.

The key theme at this year’s conference will be: “What is prepaid and am I in it?” Gift vouchers and gift cards are part of a new global economy: the prepaid market. But what does the term “prepaid” actually mean? A panel of experts, including debit card and network branded card suppliers, lawyers and a representative from the Financial Services Authority, will be on hand to explain the ins and outs of this important operational platform.

Prepaid cards are growing in popularity due largely to the benefits of heightened security, increased convenience and the opportunity to budget more effectively. Topics for discussion will include: What opportunities are available in the prepaid market? How do I choose the right product and processor? And what rules and regulations must I be aware of?

The popularity of vouchers and gift cards over the Christmas period certainly provided fresh impetus for the growth of this industry within the retail sector. A presentation entitled “The Retail Landscape” will provide delegates with a detailed overview of the retail and gift market in the UK. Where once this was an industry dominated by traditional high-street retailers, there is now a hugely diverse range of companies emerging in the market with restaurants, travel and leisure operators and experiential providers among others that are now offering voucher and gift card services. A panel of experts will explore the new opportunities that have arisen through such expansion and how high-street retailers can capitalise on strategic alliances with new entrants into the market.

As I mentioned in my column last month, The Va has recently accumulated some extremely in-depth research into the general public’s attitudes towards gift vouchers, with two extensive surveys carried out by YouGov and Giftex Prepay at the end of 2007. Delegates to the conference will be able to see the collated data come to life in a presentation on where the gift card and voucher market stands today. This promises to be a fantastic opportunity for delegates to gain an invaluable insight into the most up-to-date industry research of its kind and will be part of a general overview of how the market has progressed over the last 12 months.

Two sessions entitled “Developing and Implementing Sustainable Sales and Marketing Strategies” will cover marketing, sales and training advice in both the consumer market and the corporate market. The day will conclude with a special networking dinner.

Last year’s conference was a huge success and, as those who attended will see, we have tried to raise the bar even higher with the schedule for this year’s event. The Va has developed the conference to offer a practical and business-focused programme designed to create an environment that stimulates discussion and debate among its audience