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A new survey by YouGov has shown that a considerable 86 per cent of the British public feel that there needs to be more governmental regulation of retail store cards.
This was said to be the case because consumers are worried that they are not sufficiently protected when outlets fall into administration and fail, as has happened all too frequently recently with high street giants such as HMV and Jessops.
Carried out for multi-outlet gift card provider One4all, the survey revealed that 40 per cent of shoppers don't feel confident using gift cards at the moment, while over two-thirds (69 per cent) said they felt far happier buying multi-retailer cards, as opposed to ones designed to be used in only one store.
There are currently forms of legislation which apply to these cards. However, compliance is not obligatory for all types and all too often, people are unaware of the regulations and how to ensure they are protected by them.
Chief executive of One4all Michael Dawson said of the results: "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."
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Posted by Wayne Bly
29/04/2013
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