Eight in 10 Adults Want Gift Cards as Gifts
The popularity of gift cards continues to soar.
In fact, eight in 10 respondents to a Web survey of adults reported they would rather receive a gift card to their favorite retailer than any other kind of gift, according to a new survey by Stored Value Systems, a supplier of electronic gift card programs.
The survey also found that 76% of adults bought gift cards during this past holiday season and 91% who received the cards as a gift redeemed them before the end of February. Some 75% made sure they spent the entire value of the card.
On a positive note for retailers, more than 50% of respondents reported adding some of their own money to the card to make a purchase.
In other findings:
- 68% of adults prefer or bought gift cards with an appropriate holiday design.
- Eight respondents in 10 reported spending more (33%) or the same amount (47%) on a gift card than they would on an alternate gift.
- Those who received gift cards during the 2005 holiday season were given an average of 2.6 cards, with an average value of $42.32.
The survey was conducted at the end of February.
“We were interested in some of the new distribution channels for people receiving cards, such as their availability at gift card malls, at the retailer’s website, or as incentives and gifts from employers,” said Bob Skiba, SVS executive VP and general manager, in a statement. “We are also seeing that gift card usage is expanding into other areas beyond the traditional winter holiday gift for friends and family. Special events and holidays like Valentine’s Day, weddings, birthdays and anniversaries are times when our culture exchanges gifts so it is only natural that consumers use those occasions to offer a loved one a gift card.”
