The hype is over. The Christmas presents are unwrapped. Now, the only challenge that remains is what consumers plan to buy with their gift cards.
Gift cards were a top last-minute idea for holiday buyers, retailers said. Some 54% of consumers said they planned to buy gift cards for the holidays, according to a recent online poll by market research firm Maritz Research. Of that number, shoppers planned to spend about $190 on gift cards, up from $173 last year, the survey said.
Gift card buyers planned to give an average of four cards.
The study “really demonstrates that gift cards have been embraced by the public,” said Mark Rein, director of strategic consulting for the Maritz Research Retail Group, in a statement.
Holiday gift card sales are expected to total close to $25 billion this year, up $6 billion increase from last year, according to the National Retail Federation.
The online poll surveyed 1,192 people between oct. 6017 to track consumer shopping, buying behaviors and gift-givng trends.
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