Holiday shoppers to spend more on gift cards this year


November 16, 2014 | By RetailME Bureau

This holiday season spending on plastic or digital gift cards will surpass all previous records, according to NRF’s Gift Card Spending Survey.

The survey states that the average person buying gift cards will spend $172.74, up from $163.16 last year. Total spending is expected to reach $31.74 billion.

In an October NRF survey 62% of shoppers said they would like to receive a gift card, making gift cards the most requested gift item eight years in a row.

“No longer impersonal or only about convenience, gift cards have become the perfect, practical gift item for millions of holiday shoppers,” says Matthew Shay, NRF president and CEO.

“And, as the most requested gift item for eight years in a row, we’re sure there will be plenty of happy individuals this holiday season who can look forward to treating themselves to something shiny and new come January when retailers start to offer promotions on fresh new merchandise.”

According to the survey, shoppers will spend an average of $47.87 per card, up from $45.16 last year. Total spending on gift cards has increased 83% since NRF began tracking consumers’ intentions to buy gift cards as holiday gifts in 2003.

Gift cards are a go-to gift for consumers of all ages; the survey found adults 65+ will spend the most on gift cards at an average of $204.59. Young adults between 18-24 years old will spend the least at an average of $113.75. Additionally, men plan to spend significantly more than women on gift cards ($180.81 vs. $165.09 respectively).

When asked why they are planning to buy gift cards this holiday season, more than half (51.8%) of shoppers said that gift cards allow the recipient to select their own gift, up from 43.1% last year and the highest since NRF started asking the question in 2010. Additionally, one-quarter (25.6%) said gift cards are easier and faster to buy, and 3.8% said this helps them stick to their holiday budget.

“These days, shoppers simply love the idea of gifting someone they care about with a little ‘free money’ in the form of a gift card,” says Pam Goodfellow, Prosper’s principal analyst. “Consumers young and old want to find the best way possible to create a happy holiday experience for their loved ones, and gift cards are a great option every time.”

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



Foodlink Global Restaurants & Catering Services, the F&B services enterprise in India 

Continue Reading

December 29, 2021 | By Zubina Ahmed

‘Tis the time to be jolly! The festive season is back. Celebrate 

Continue Reading

December 19, 2021 | By RetailME Bureau

“It sounds like this, Luh Pan Koh-ti-dyan and means ‘the daily bread’, 

Continue Reading

December 6, 2021 | By Zubina Ahmed

The long weekend might be over but the Etisalat Beach Canteen 2021 

Continue Reading

December 5, 2021 | By RetailME Bureau

UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau




Download Images RetailME Magazine