Time Out – the leading provider of inspiration, information and booking opportunities for arts and entertainment – is moving into the £220 million UK gift experience market. It is launching a retail range of high-quality experience gifts in partnership with Smartbox, the international leader in gift experiences.

Significantly, Time Out has recognised retailers' concerns about cashflow in the current economic climate and stores will not be required to pay for the stock until it has been sold ... making the range risk-free.

The Time Out-branded range will include about 1300 different experiences in nine themed packages: Table for Two, Tastings, Adventure, Adrenaline, Zen & Spa, Unusual Escapes, Charming Getaways, Delicious Retreats, and Gourmet Escapes.

With UK consumer demand for gift experiences said to be growing by about 30-35% a year, particularly among 18-44 year-olds, the Time Out Smartbox range is designed to give gift retailers a new high-value product line that is risk-free, easy to stock, and with strong consumer appeal.

In addition, Smartbox will provide bespoke merchandising and point of sale display support.

Each gift collection comes in the tangible form of a deluxe presentation box containing a pre-paid voucher and a glossy guidebook that profiles each of the experiences available. Everything the purchaser needs is inside the box.

The premium quality of the packaging also enhances the high perceived value of the gift.

The purchaser, or the recipient of the gift, is able to make a personal choice from up to 200 different options available, depending on the Smartbox theme. They then contact their chosen venue direct to place the booking and, on arrival, pay with the pre-paid voucher inside each box.

It is this high level of personalisation that makes the Smartbox format stand out in the marketplace.

Instead of the single fixed experience offered by other providers, recipients of a Time Out Smartbox can choose and book an activity they themselves have always wanted to do – so the gift becomes much more personal and memorable.

Purchasers will also be able to take advantage of the most generous redemption period offered by any gift experience provider. Recipients will have until 31 December 2013 to redeem their gift.

Cathy Runciman, Time Out’s International Managing Director, says: “We selected Smartbox as our partner because, as well as being the global leader in lifestyle gift products, they provide the best choice and the easiest customer journey – making a Smartbox a simple gift to buy and an exciting one to receive.”

She adds: “The Smartbox themes – such as dining, hotels, relaxation and leisure activities – are all areas in which Time Out has proven expertise. That’s why we see such mutual long-term potential in the collaboration between our two companies.

“The new Time Out-branded collection has the longest validity of any gift experience. This and its highly competitive price points will, I’m sure, provide a great selling opportunity for retailers.”    Garry Barone, Smartbox’s Head of Sales & Marketing, says: “The great advantage of stocking the Smartbox product is the ability to generate an incremental risk-free revenue stream. The retailer is only invoiced after the product has actually been sold.”  

He adds: “The product is high-end, with a high average price-point that makes the retailer’s earnings per square metre extremely attractive.”