The multi-year agreement will introduce Love2shop gift cards to new retailer channels, including major UK grocers and high street stores. This expansion is expected to increase Love2shop billings by over GBP 100 million within the next five years. The initiative builds on previous efforts to establish new distribution channels through 2,600 multiple retailer partners, positioning Love2shop as one of the leading multi-retailer gift cards in the UK market.
The partnership will commence in time for the peak trading season, with gift cards becoming available in stores within the InComm Payments retail network starting in September 2024.
The new distribution partnership between PayPoint and InComm Payments is poised to improve the customer experience by increasing the availability of Love2shop gift cards across a broader range of retailers. This expansion means that customers will find it easier to purchase and use Love2shop gift cards at their favorite high street stores and major UK grocers. The convenience of having these gift cards accessible in more locations will simplify the shopping experience, making it more user-friendly.
The existing distribution network for Love2shop gift cards, which already includes 2,600 multiple retailer partners, provides a robust foundation for further expansion under the new partnership with InComm Payments. This extensive network showcases the widespread acceptance and popularity of Love2shop gift cards, positioning them as a trusted and versatile gifting solution.
Additionally, the versatility of Love2shop gift cards allows customers to choose from over 90 retail partners, including popular brands like M&S, Argos, and TK Maxx. This wide range of options ensures that recipients of the gift cards have the flexibility to spend them according to their preferences, whether for fashion, home goods, groceries, or online shopping. This level of choice not only raises the value of the gift card but also makes it a more attractive option for gifting, catering to diverse tastes and needs.
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