Copyright © 2005 Information Resources, Inc. Confidential and proprietary. July 2006CONFIDENTIAL An IRI Report for the Voucher Association covering data

Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

July 2006 CONFIDENTIAL

An IRI Report for the Voucher Association

covering data up to Quarter 2, 2006


Dummy Data

Report Introduction1. The data contained in the report present estimates of the size of the Gift Voucher Market.

2. The data have been generated through a “pooling operation”, whereby members of the Voucher Association forwarded to IRI data on their individual businesses, which were then aggregated and analysed.

3. The market described is a “defined Market”, reflecting input from the following 30 companies – Argos Retail Services, Boots, Capital Incentives, Choice Gift Vouchers, eXhilaration, Experience More, Debenhams, Dixons, Gift Voucher Shop, Grass Roots, Halfords, House of Fraser, John Lewis Direct, Kingfisher, Lakeside Shopping Centre, Love2reward, Theatre Tokens, Thomson (Corporate Sales only), Maritz, Marks & Spencer, Marriott Incentives, Next, Red Letter Days plc, Sainsbury, Tesco, Thomas Cook, Thresher Group, Virgin Incentives, Whitbread and WH Smith.The Voucher Association and Information Resources aim to continue to recruit further members in the future in order to make the measurement as comprehensive as possible.

4. The data included covers the period Quarter 2, 2003 - Quarter 1, 2006

5. Any queries or comments should be forwarded to Simon Thickett of IRI, Eagle House, The Ring, Bracknell, Berkshire, RG12 1HS

Telephone: 01344 746000 Fax: 01344 746001


Dummy Data

Executive Summary

Latest Quarter Results The Voucher Association has enjoyed a successful quarter in Q2 06 with total

sales of £241,500,000 60.0% of these sales were Store sales

YOY Results Year on Year growth of the Total Market was +7.3% for Q2 06 This growth was driven by Store sales (+7.4%)

Account Performance Total market share is 4.1% in Q2 06 Total Year on Year Category Growth shows an increase of 7.3%, driven by OTC The Retail market has seen growth of 5.6% Year on Year with retailer share at

5.3% for Q2 06


Dummy Data

Value Sales each Quarter, starting quarter 3, 2003. Bars are in £000s.

Total Category Size

14

0,0

00

45

5,0

00

12

4,0

00

12

8,0

00

14

5,0

00

47

0,0

00

13

5,0

00

13

5,0

00

14

6,0

00

48

0,0

00

14

0,0

00

14

5,0

00

10

0,0

00

28

0,0

00

82

,00

0

84

,00

0

10

0,0

00

30

0,0

00

90

,00

0

90

,00

0

31

0,0

00

95

,00

0

96

,50

0

24

0,0

00

73

5,0

00

20

6,0

00

21

2,0

00

24

5,0

00

77

0,0

00

22

5,0

00

22

5,0

00

24

4,0

00

79

0,0

00

23

5,0

00

24

1,5

00

98

,00

0

Q3 2003 Q4 2003 Q1 2004 Q2 2004 Q3 2004 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006

STORE

CORP

TOTAL


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Value Sales in the latest year, starting in the year beginning quarter 1, 2002.

Total Category Size8

47

,00

0

88

5,0

00

91

1,0

00

54

6,0

00

58

0,0

00

59

9,5

00

1,3

93

,00

0

1,4

65

,00

0

1,5

10

,50

0

Q3 2003 to Q2 2004 Q3 2004 to Q2 2005 Q3 2005 to Q2 2006

STORE

CORP

TOTAL

Dummy Data


Dummy Data

Year On Year Growth of Total Market, by CategoryQuarter This Year Vs Quarter Last Year

19.0

12.0

5.4

9.1

6.9

2.0

8.2

5.8

1.33.0

3.7

7.4

22.0

2.0

-3.1-1.4

6.17.2

8.8

11.0

-0.6

6.55.6

7.2

20

8

1.9

4.5

6.5

4

8.5 7.9

0.5

4.7 4.4

7.3

Q3-03/Q3-

02

Q4-03/Q4-

02

Q1-04/Q1-

03

Q2-04/Q2-

03

Q3-04/Q3-

03

Q4-04/Q4-

03

Q1-05/Q1-

04

Q2-05/Q2-

04

Q3-05/Q3-

04

Q4-05/Q4-

04

Q1-06/Q1-

05

Q2-06/Q2-

05

STORE

CORP

TOTAL

Year on Year percent change, based on Market Sales data


Dummy Data

Contribution of each quarter to total year sales. Based on latest rolling full year of data

Category Seasonality: Quarter 3, 2005 - Quarter 2, 2006

Q1/0615.4%

Q3/0516.0%

Q4/0552.7%

Q2/0615.9%

Q1/0615.8%

Q3/0516.3%

Q4/0551.8%

Q2/0616.1%

B 2 C B 2 B

Dummy Data


Dummy Data

Total Market £260,000 £650,000 £201,000 £210,000 £245,000 £660,000 £215,000 £225,000 £247,000 £675,000 235,000 241,500

Q3 2003 Q4 2003 Q1 2004 Q2 2004 Q3 2004 Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006

Category Segmentation Share Trends of Total Market

59.6 62.0 61.0 60.3 58.0 61.3 60.4 59.0 60.4 63.4 59.6 60.0

40.4 38.0 39.0 39.7 42.0 38.7 39.6 41.0 39.6 36.6 40.4 40.0

STORE CORP

Store & Corporate contribution to total sales each quarter. Value sale shown in the table is in £000s

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Detailed Market BreakdownWhere the Market is broken down into the segmentation shown below, it is deemed to be representative of only the businesses that are listed below

- Boots

- Capital Incentives

- Debenhams

- Dixons Group Business Services

- Experience More

- Halfords

- House of Fraser

- Marriott Incentives

- Red Letter Days plc

- Sainsburys

- The High Street Voucher

- WH Smith

- Next

- Exhilaration

This information is only available to the companies listed above

Telephone: 01344 746000 Fax: 01344 746001

Total Market

B2B B2C

Reward/Incentive

Flexible Benefits

Legislative

Savings (incl Xmas Club)

Affinity Groups

E-commerce

E-commerce

OTC

Insurance Replacement

Savings (inc. Xmas club)


Dummy Data

Store 67,000 290,000 63,000 64,000 73,000 295,000 69,000 68,000 74,000 300000 80000 82000

Q3 2003

Q4 2003

Q1 2004

Q2 2004

Q3 2004

Q4 2004

Q1 2005

Q2 2005

Q3 2005

Q4 2005

Q1 2006

Q2 2006

Market Size, Split by Category B 2 CThis data is only available to members submitting this breakdown

3.2

45.0

0.1 2.0

46.0

0.2 0.5

45.9

0.0 0.11.6

1

2.5 2.53

2

3.3 4 3.6

3

3.2 4.2

95.2

54.0

97.5 97.4 95.0

52.0

96.7 95.8 95.9

51.1

96.8 95.7

OTC (B2C)

E-commerce (B2C)

Savings incl XmasClub (B2B)

Quarterly Value Sales, £000s. Market is defined as only the companies who submit the Breakdown.

Dummy Data


Dummy Data

corp 41,000 43,000 44,000 97,000 42,000 41,500 60,000 95,000 47,000 49,500 55,000 98,000

Q1 2003

Q2 2003

Q3 2003

Q4 2003

Q1 2004

Q2 2004

Q3 2004

Q4 2004

Q1 2005

Q2 2005

Q3 2005

Q4 2005

Market Size, Split by Category B 2 BThis data is only available to members submitting this breakdown

6862 59

69 7066 65 64

7065 66

7.011.5

12.0

9.5 6.7 13.0 12.0 13.07.0

12.0 13.00.50.4 1.0

0.6

0.90.1

0.41.0 0.3 0.5 1.0

1.0

2.8

13.0

1.52.7

2.0 10.50.5 0.5 4.0

10.0

0.00.0

0.9

1.95

2.95 5.5

5.2

4.9

6.5 75

5

76

0.02

0.4

0.2 0.6 0.2

0.5

0.5 0.523.2

9.7

21.05 20.2513.38

7.413.4 13.9 13.5

714.5 13.5

63.5

9.2

InsuranceReplacement (B2B)

E-commerce (B2B)

Affinity Groups (B2B)

Savings incl XmasClub (B2B)

Legislative (B2B)

Flexible Benefits(B2B)

Reward/Incentive(B2B)

Quarterly Value Sales, £000s. Market is defined as only the companies who submit the Breakdown.

Dummy Data


Dummy Data

STORE 7800 24000 8000 10000 11000 28000 8000 10000 9000 29000 8500 9000

CORP 250 1600 700 450 600 1700 500 550 700 2000 400 1000

TOTAL 8050 25600 8700 10450 11600 29700 8500 10550 9700 31000 8900 10000

Q3 03 Q4 03 Q1 04 Q2 04 Q3 04 Q4 04 Q1 05 Q2 05 Q3 05 Q4 05 Q1 2006 Q2 2006

Your percent share of market sales for Store, Corporate and Total. Table shows your sales figures in £000s.

Member Share Trend

7.0

8.0

7.0

6.0

5.0

8.0 8.0

4.0

5.0

8.5

6.1 6.2

2.0

1.0

2.0

1.0 1.0 1.0 1.0 1.0 1.0 1.0

0.4

1.0

3

4

3

4

3

4 4

2

3

4.3

3.84.1

STORECORPTOTAL

Dummy Data


Dummy Data

TOTAL £000 230,0 10,00 600,0 40,00 210,0 10,00 220,0 7,000 250,0 8,000 660,0 30,00 250,0 8,000 250,0 7,000 250,0 7,000 670,0 35,00 2E+0 8900 2E+0 1000

Q3-03 TM

Q3-03

MEM

Q4-03 TM

Q4-03

MEM

Q1-04 TM

Q1-04

MEM

Q2-04 TM

Q2-04

MEM

Q3-04 TM

Q3-04

MEM

Q4-04 TM

Q4-04

MEM

Q1-05 TM

Q1-05

MEM

Q2-05 TM

Q2-05

MEM

Q3-05 TM

Q3-05

MEM

Q4-05 TM

Q4-05

MEM

Q1-06 TM

Q1-06

MEM

Q2-06 TM

Q2-06

MEM

Store and Corporate segmentation of your Total Sales. Table shows Total Market sales and your Total Sales in £000s.

Member Sales Segmentation Compared to Total Market

59.0

92.0

55.0

95.0

60.0

94.0

61.0

90.0

60.0

90.0

53.0

92.0

60.0

94.0

61.0

92.0

60.0

93.0

55.0

96.0

59.6

95.5

60.0

90.0

41.0

8.0

45.0

5.0

40.0

6.0

39.0

10.0

40.0

10.0

47.0

8.0

40.0

6.0

39.0

8.0

40.0

7.0

45.0

4.0

40.4

4.5

40.0

10.0

STORE CORP

Dummy Data


Dummy Data

Member Year On Year Category Growth

-3

9

3

3

-1

-8

-12

-15

-20

-15

-10

-15

3.7

7.4

45.0

60.0

65.0

30.0

-30.0

15.0

-17.0

30.0

2.0

-30.0

-0.5

25.0

5.6

7.2

0

8

4

4

-2.2

-6

-12

-10

-16

-14

-9.5

-12

4.4

7.3

Q1-03/Q1-02

Q2-03/Q2-02

Q3-03/Q3-02

Q4-03/Q4-02

Q1-04/Q1-03

Q2-04/Q2-03

Q3-04/Q3-03

Q4-04/Q4-03

Q1-05/Q1-04

Q2-05/Q2-04

Q3-05/Q3-04

Q4-05/Q4-04

Q1-06/Q1-05

Q2-06/Q2-05TOTAL

CORP

STORE

Year-On-Year Growth of your sales. Quarter versus same Quarter last year


Dummy Data

Member YTD - - - - - - 1700 20000 -

Market YTD 20,185 600 6,000 4,000 500 20,000 100000 210000 8,000

2006 YTD MEM Share - - - - - - 1.70% 9.50% -

Insurance Replaceme

nt (B2B)

E-commerce

(B2B)

Affinity Groups (B2B)

Savings incl Xmas Club

(B2B)

Legislative (B2B)

Flexible Benefits

(B2B)

Reward/Incentive (B2B)

OTC (B2C)E-

commerce (B2C)

30.2 1.3 0.3 0.1

2.9

15

30

1

8

92

Market YTD

Member YTD

Corporate Sales Store Sales

Member & the Detailed Market Sales - Breakdown by SectorThe Market is defined as only the company’s who submit the detailed Breakdown. Chart shows the proportion of your sales in each breakdown, and how this compares to the Market

Detailed segmentation of your Total Sales. Table shows segmented Market sales and your Market share & Sales in £000s. Figures are YTD.


Dummy Data

Year On Year Growth in Member & the Segmented Market

-8.0

600.0

-25.0

80.0

-15.0

25.0

-18.0

7.0

20.0

-2.5

9.4

Insurance Replacement (B2B)

E-commerce (B2B)

Affinitv Groups (B2B)

Savings (B2B)

Legislative (B2B)

Flexible Benefits (B2B)


OTC (B2C)

E-commerce (B2C)

Market Growth

Member Growth

Your growth of the segment versus the growth in the segmented Market, against the same period last year.


Dummy Data

Year On Year Growth in Member & the Segmented Market without Member

-8.0

600.0

-25.0

80.0

-15.0

25.0

-15.0

3.5

25.0

-2.5

9.4

Insurance Replacement (B2B)

E-commerce (B2B)

Affinitv Groups (B2B)

Savings (B2B)

Legislative (B2B)

Flexible Benefits (B2B)


OTC (B2C)

E-commerce (B2C)

Market Growth

Member Growth

Your growth of the segment versus the growth in the segmented Market, against the same period last year.


Dummy Data

Retail Market Breakdown

Within this report, there are additional charts, based on a new market split, which only includes the companies who are also members of the British Retail Consortium (the “Retail Market”)

The additional charts detail the proportion of your sales that split into Store & Corporate sales, and benchmarks this against the Retail Market.

The Retail Market includes the following retailers:

Argos Retail - Kingfisher Boots - Marks & Spencer Debenhams - Next Dixons Group Business Services - Sainsbury’s Halfords - Tesco House of Fraser - Thresher Group John Lewis Direct - WH Smith

This information is only available to the companies listed above

Telephone: 01344 746000 Fax: 01344 746001


Dummy Data

Value Sales each Quarter, starting quarter 3, 2002. Bars are in £000s.

Total ‘Retail Market’ Size

130,

000

250,

000

95,0

00 125,

000

130,

000

330,

000

130,

000

125,

000

140,

000

360,

000

135,

000

140,

000

60,0

00

110,

000

38,0

00

50,0

00

45,0

00

110,

000

45,0

00

55,0

00

60,0

00

115,

000

45,0

00

50,0

00

190,

000

360,

000

133,

000 17

5,00

0

175,

000

440,

000

175,

000

180,

000

200,

000

475,

000

1800

00

1900

00

Q3 03 Q4 03 Q1 04 Q2 04 Q3 04 Q4 04 Q1 05 Q2 05 Q3 05 Q4 05 Q1 06 Q2 06

STORE

CORP

TOTAL


Dummy Data

Year On Year Growth of Total ‘Retail Market’, by CategoryQuarter This Year Vs Quarter Last Year

14.4

11.0

5.0

9.0

6.0

0.5

8.05.0 5.0

7.0

3.8

12.0

28.6

-10.0 -9.0

-4.0

-15.0

8.06.0

2.0

19.0 20.0

0.0

-9.1

20.3

5.0

0.1

6.0

-1.0

4.0

7.0

4.0

9.0

12.0

2.95.6

Q3-03/Q3-02

Q4-03/Q4-02

Q1-04/Q1-03

Q2-04/Q2-03

Q3-04/Q3-03

Q4-04/Q3-04

Q1-05/Q1-04

Q2-05/Q2-04

Q3-05/Q3-04

Q4-05/Q4-04

Q1-06/Q1-05

Q2-06/Q2-05

STORE

CORP

TOTAL

Year on Year percent change, based on Market Sales data


Dummy Data

STORE 130,000 250,000 95,000 125,000 130,000 330,000 130,000 125,000 140,000 360,000 135000 140000

CORP 60,000 110,000 38,000 50,000 45,000 110,000 45,000 55,000 60,000 115,000 45000 50000

TOTAL 190,000 360,000 133,000 175,000 175,000 440,000 175,000 180,000 200,000 475,000 180000 190000

Q3 03 Q4 03 Q1 04 Q2 04 Q3 04 Q4 04 Q1 05 Q2 05 Q3 05 Q4 05 Q1 06 Q2 06

Your percent share of market sales for Store, Corporate and Total. Table shows ‘Retail Market’ sales figures in £000s.

Member Share of ‘Retail Market’ Sales

6.2

10.0

8.0

6.0

5.3

8.5

6.0

4.44.8

8.3

6.3 6.4

1.2 1.01.3 1.2 1.0

2.5

1.51.0 1.1

1.8

0.9

2.0

4.6

6.8

5.6

4.34

6.7

4.2

3.4 3.6

6.7

4.95.3

STORE

CORP

TOTAL

Dummy Data

Documents

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. July 2006CONFIDENTIAL An IRI Report for the Voucher Association covering data