Moonpig reveals jump in sales but says consumers are buying fewer cards and sending cheaper gifts

Moonpig Group has revealed a jump in sales as it upped the prices of its greetings cards, but said consumers were buying fewer cards and sending cheaper gifts.
Lizzie Murphy
By Lizzie Murphy
Published 29th Jun 2023, 12:57 BST
Updated 29th Jun 2023, 12:57 BST

The online greetings cards and gifts giant saw its profits decline as it notched up higher costs.

It reported a 5.2 per cent increase in its group revenue in the year to the end of April, compared to the previous year, to £320.1m from £304.3m.

Hide Ad
Hide Ad

It came as the average order value, across its UK website and Netherland's brand Greetz, jumped from £7.70 to £8.20, which reflects an increase in card prices and fewer promotional discounts, the company said.

Online greetings cards and gifts business Moonpig has reported an increase in revenues as it upped the price of its greetings cards, but said consumers were opting to send fewer cards and cheaper gifts. Picture: James Manning/PA WireOnline greetings cards and gifts business Moonpig has reported an increase in revenues as it upped the price of its greetings cards, but said consumers were opting to send fewer cards and cheaper gifts. Picture: James Manning/PA Wire
Online greetings cards and gifts business Moonpig has reported an increase in revenues as it upped the price of its greetings cards, but said consumers were opting to send fewer cards and cheaper gifts. Picture: James Manning/PA Wire

The vast majority of sales come from existing rather than new customers, the platform said.

But average selling prices for gifts, like flowers, chocolate, wine and champagne, declined during the year as consumers opted to send cheaper gifts to loved ones amid cost pressures.