Thursday, November 29, 2012
Gift cards remain hot for the holidays
The 2012 holiday shopping season will be a windfall for gift card providers, according to the National Retail Federation. BIGinsight research, sponsored by the NRF, showed that 81.1 percent of shoppers will purchase at least one gift card during the holidays and shoppers will spend an average of $156.86 on gift cards, which represents the highest amount in the survey's 10-year history, the NRF said.
NRF’s 2012 holiday consumer spending survey said 59.8 percent of 9,383 consumers polled online between Nov. 1 and Nov. 6, 2012, said they’d like to receive gift cards this holiday season, up from 57.7 percent in 2011. The average spend per gift card stands at $43.75, with men planning to significantly outspend women on gift cards – $172.98 to $141.66, respectively.
The survey noted that 39.1 percent of survey respondents would purchase department store-specific gift cards, followed by gift cards for restaurants (33.3 percent), book stores (20.8 percent), coffee shops (18.1 percent), discount stores (14.2 percent), grocery stores-gasoline providers (12.6 percent) and online merchants (11.2 percent).
Additionally, the biggest reason cited by survey respondents for gift card giving is convenience (21.1 percent). But practicality is another important factor, as 44.7 percent of respondents choose gift cards because they allow recipients to control what gifts they ultimately receive, the NRF said.
"Gift cards are the perfect practical and personal gift, allowing the recipient to treat themselves to something nice, or even something they need," said BIGinsight Consumer Insights Director Pam Goodfellow. "Whether it's a mobile card that consumers can use whenever it's most convenient or one that includes video or audio, gift cards can still be extremely personal."
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