An article published today by NACS confirms what we have been hearing all year: Gift card spending has reached an all-time high.1 Now is the perfect time for marketers to introduce the Intevacon Prepaid Card. Data continue to support consumer’s preference toward this product, both for personal use, as well as for gift-giving.
The National Retail Federation conducted a survey indicating that 8 in 10 shoppers will purchase a gift card this holiday season, spending an average of $163.16 each2. The most valuable piece of information for marketers is that 12% of shoppers will purchase gas station cards, up 11% from last year3. You can find the article here, or review the highlights below.
- Gift cards top the holiday wish list for the 7th year in a row, with 6 in 10 gift recipients saying that they prefer to receive gift cards.3
- The average amount that will be spent on each gift card is estimated to be $45.16, with individuals 65 and older spending an average of $175.96 and individuals 35-44 spending an average of $171.15.3
- Gift card choices will fall into the following categories: Department Store (40.3%), Restaurant (34.2%), Coffee Shop (19%), and Gas Station (12%).3
1. “Gift Card Spending Surging.” NACS. November 2013. Web. November 2013. http://www.nacsonline.com/News/Daily/Pages/ND1114133.aspx
2. “Gift Cards.” National Retail Federation Retail Insight Center. November 2013. Web. November 2013. http://research.nrffoundation.com/Default.aspx?pg=9007#.UoT0BHEo6M8
3. “Gift Card Spending Reaches All-Time High, According to NRF Survey.” National Retail Federation. November 2013. Web. November 2013. http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=1694
*Data from National Retail Federation Survey