Thursday, October 25, 2012
SVS predicts a bright holiday season for gift cards
Ceridian Stores Value Solutions Inc. (SVS) reported on Oct. 25, 2012, that National Retail Federation research points to a promising holiday season for gift cards in 2012. Indeed, SVS stated, "2012 promises to be the sixth consecutive year for gift cards to be the 'most popular gift' to give and receive. With electronic gift cards and mobile applications that allow consumers to purchase and redeem cards from any web-enabled device, gift cards have become that much more accessible."
In addition, the NRF is forecasting total retail sales of $586 billion during November and December 2012, a 4 percent increase over 2011. Plus, SVS said it's gift card portfolio "was up 7 percent for first-time card activity during the first half of 2012."
SVS noted other good signs for gift card use in the coming holiday season, including:
- Over 82 percent of consumers will purchase a gift card.
- Eighty-six percent of consumers will redeem a promotional gift card.
- Eighty percent of consumers are more likely to shop at a store offering a promotional gift card.
SVS noted it manages over 600 million cards and processes more than 1 billion transactions originating from over 45 countries and in 26 currencies worldwide annually.
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