Gift Card Statistics
Different sources through their collected “gift card statistics” proved that the uses of gift cards have increased significantly in the last few years. Now gift cards are emerging as the most popular type of holiday present and a go-to gift for many special occasions and event celebrations. Moreover, the usage of gift cards as impersonal presents has received worldwide recognition. With the changing consumer perceptions and acceptance of the effective means of promotions, the uses of gift cards have achieved a sustainable growth.
Many advanced research studies conducted on the usage of gift cards have predicted that the gift card industry is likely to reach $160 billion by the year 2018. Thanks to the scope of increased customization. Moreover, the rise of social gifting has added another dimension to it. Both of these have created a favorable atmosphere for the popularity of gift cards. Now the gift card industry is huge.
Almost all reputable retailers, advanced restaurants, and forward-thinking businesses offer some kind of gift card program.
Given below are some of the most surprising statistics about gift cards:
Over $1 billion gift cards remain unspent each year
The full “sales value” directly goes to the retailer as soon as a gift card is purchased with no matter whether or not the gift card is redeemed.
Gift cards are the most requested presents for the holidays
During the time of holidays, the popularity of gifts reaches its peak. It becomes one the most requested items for spending holidays and vacations comfortably. One study report showed- over 60% of the surveyed consumers preferred a gift card over the items like electronic appliances, clothing, DVDs, etc. Being flexible and easy to use, it is more popular than the other items.
72% of customers spend more than the value of their gift card
Gift Card statistics have proved that over 72% consumers spend more than the amount offered to them by a retailer or bank (with a gift card). In many cases, they don’t stop purchasing a thing when it exceeds the offered amount.
Over 94% of all consumers will buy or receive a gift card in the present year
It is much expected that over 94% of all American consumers will buy or receive a gift card in the present year. Gift Card statistics have confirmed it through different data analysis.
Gift Cards Xchange is a significant player in the gift card industry. It is dedicated to offering you the many benefits of gift card exchange.