Some 45% of the U.S. adult population, or 97 million people, purchased a gift card over the last 12 months, compared to just 23% in a similar survey conducted in August 2002, according to a study commissioned by ValueLink, a gift and spending card service based in Denver, CO.
The August 2003 survey found that consumer awareness of gift cards has reached 92%, a 13% increase over the 2002. Nearly six in 10 adults or 59% indicated purchasing or receiving a gift card in the past year, a 22% jump.
In other findings, the number of cards that consumers purchased increased to 5.6, or one card more than the previous survey. Households with teenagers purchased nearly two cards over the average. And consumers spent about $197 on their purchased cards.
However, only 8% reported purchasing a card for their own use, versus 12% in 2002. And 60% of those consumers reloaded value on a previously purchased card.
Other findings include:
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Employed, college-educated women living in metro area households with at least three members continue to lead the demographic breakdown of gift card purchasers
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Men continue to load a higher average dollar value on cards, $48 per card versus $37 per card for women
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More than two-thirds of the women surveyed (68%) give gift cards as a primary gift versus just 57% of men
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Nearly three in 10 males (29%) choose to give a gift card as a secondary gift as well, versus just 16% of women
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54% of consumers spend the initial value of their gift card within one month
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61% spend the initial value of their gift card in their first visit.
The survey queried 1,023 U.S. adults aged 18 or older.
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