Newspaper article The Journal (Newcastle, England)

Increase in Festive Saving Says Hamper Firm

Newspaper article The Journal (Newcastle, England)

Increase in Festive Saving Says Hamper Firm

Article excerpt

CHRISTMAS hampers firm Park said savings for the festive season were up 5% amid signs the financial gloom was causing customers to set aside more money. The firm, based in Birkenhead, Liverpool, previously said it expects to benefit from the Government's austerity measures as consumers worried about their finances squirrel money away to make sure they can afford to buy presents at Christmas.

The amount of money customers had saved for Christmas so far in 2011 was also boosted by more people topping up their savings accounts online.

Park said all parts of the business performed well in the year to March 31, while its Flexecash gift card, launched in May, exceeded the company's expectations.

The card is now used by 300 corporate clients who top them up with credit and give them to staff as part of a reward scheme. It is currently accepted by 24 retailers, including Iceland, Jessops, HMV and Halfords, and Park expects more chains to join up in the run-up to Christmas. …

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