Following today’s release of Moonpig’s figures for the 6 months ending 31 October 2025; Aliyah Siddika, Retail Analyst at GlobalData, a leading data and analytics company, offers her view: “Moonpig reported a strong performance for H1 FY2025/26, reinforcing its resilience despite ongoing pressure in its Experiences division. Total revenue rose 6.7% year on year, underpinned by solid trading across its core greeting cards and gifting categories. Profitability progressed at a slightly faster pace, with adjusted EBITDA up 7.7%, reflecting operating leverage from higher order volumes and continued focus on existing customers. The Moonpig brand remained the key growth driver, delivering a notable 9.4% revenue increase, while Greetz returned to growth with a 1.3% uplift in constant currency.
“Moonpig’s active customer base grew to 12.1m, with both Moonpig and Greetz contributing to this expansion. The retailer’s strategy of deepening engagement with existing customers continues to pay off. Subscription services Moonpig Plus and Greetz Plus have seen robust momentum, with memberships rising to 1.02m, supporting higher order frequency and more predictable revenue. Creative features remain a key point of differentiation, with usage of AI‑generated stickers, audio and video messages, and personalised handwriting surging 57% year-on-year. These tools not only enhance the perceived value of each card but also help embed Moonpig in more emotional, personalised gifting moments, a crucial defence as rivals such as thortful and Funkypigeon ramp up their own customisation capabilities.
“The Experiences division is the primary hinderance to performance, with revenue declining 8.9% year-on-year as Moonpig reshapes its proposition. The introduction of new partners, including Pizza Express, The Traitors Live Experience, Sixes and Spotify subscriptions, enhances Moonpig’s appeal in dining, entertainment and digital experiences, aligning more closely with current consumer preferences. However, Moonpig lacks strong recognition as a destination for experience gifts. To unlock growth, the retailer must leverage its loyal customer base by more aggressively bundling experiences with cards and physical gifts at attractive package prices, and by highlighting self‑purchase occasions, such as treating oneself to a meal out or a subscription, in marketing campaigns. This approach would capitalise on the growing trend of consumers buying experiences for themselves as well as for gifting, while better utilising Moonpig’s scale and data-driven personalisation.”
