We intend to leverage a number of key market trends and opportunities in our target addressable markets.

Clear transition from offline to online

The cards market is increasingly moving away from traditional stores, with online penetration for card purchases showing strong growth in comparison with other product categories. The impact of the Covid-19 pandemic in the UK and the Netherlands has further accelerated the transition to online, with an enduring step-up in online penetration since 2019, to an estimated 16% in the UK and 24% in the Netherlands for 2022, with clear potential for further growth.

This trend is underpinned by the strengths of the online proposition and experience when compared to offline, including broader choice, ability to personalise products, enhanced convenience, additional digitally-enabled features such as reminders, and a tailored customer experience.

Growth in card-attached gifting

Approximately 72% of cards are currently given with a gift in the UK. As the clear leader in the online cards market, we’re well placed to take advantage as card-attached gifting grows online. This gifting spend is fragmented across a broad set of categories including flowers, food, drink and toys. In both the UK and the Netherlands, our strong offering in these key product ranges mean there is considerable scope for further online penetration of this market.

All market figures provided by OC&C - download the market report here.