epay UK, a division of electronic payment services provider Euronet, has launched the UK’s first flexible vegan gift card.
The multi-branded card features both established and new vegan brands which are now part of epay’s retail partner network. Major retailers available include New Look, The Body Shop and Superdry.
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Vegan retailers can add the gift card to their range of prepaid products and generate additional revenue from the expanding vegan market.
GlobalData and the Gift Card and Voucher Association researched the role of gift cards for shoppers in the UK struggling with the cost-of-living crisis, finding robust growth.
The global plant-based food and beverages market was valued at $94.2bn in 2023 and expects a compound annual growth rate of 7.2% by 2027.
The vegan gift card is available in both physical and online formats and can be found in high street retailers such as Argos.
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By GlobalDataepay UK managing director Richard Robertson commented: “As the demand for vegan products and services continues to grow, we took an opportunity to provide the growing vegan community with a convenient and versatile gifting option. The launch of this product aims to complement the growth of vegan-friendly businesses.”
Shoppers purchasing plant-based products spend 61% more than the average shopper. Retailers must provide quality plant-based products and a broader scope of choice for these valuable customers to maximise basket size.
