A new YouGov opinion poll has shown that 86% of adults in Britain believe that all gift cards should be regulated to protect consumers in the event of retailer collapse. The YouGov poll commissioned by One4all surveyed 2031 people, and found that when asked to consider the recent collapse of high street retailers and the concerns about gift cards losing value, 78% of people said they would feel more confident purchasing a gift card if they knew the money was safeguarded in the event of retail collapse.
Commenting on the findings, One4all Group CEO Michael Dawson said: “This is a strong message to the industry that the public believe greater consumer protection is needed in order to maintain confidence in the gift card market.
Regulated products like the One4all bring clear benefits to HR departments and Trade Loyalty programmes, giving them the reassurance that they won’t be left out of pocket in the event of a retailer collapsing.”
Consumer expert Jasmine Birtles commented on the findings, saying: “The current situation on the high street has triggered fears that gift cards are risky. This means people are now wondering whether buying a gift card could be a waste of money. While there are safer options out there - like One4all, which ensures consumers and businesses won’t be left out of pocket if a retailer goes bust - to fully restore confidence, the industry as a whole needs to start putting the consumer first. We need them to enhance protection for all gift card holders by bringing in better rules to govern these vouchers.”
To hear further commentary from CEO Michael Dawson and Jasmine Birtles on BBC and regional radio stations please click the audio link below
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