Gift Cards Popular With Givers, Merchants
Many people will get carded during the holidays.
Consumers will spend an average of $203 on gift cards during the 2007 holiday season, up from $186 in 2006, according to Comdata Stored Value Solutions.
Card recipients will most likely redeem their cards over two visits, so there will probably be more store traffic and sales potential.
“Consumers are finding more things to like about gift cards, including the increasing availability of gift card malls, special packaging and expanded uses, such as budgeting tools and discount opportunities," said Bob Skiba, executive vice president of Comdata, in a statement.
Most gift cards are still purchased in specific retailer locations. The Comdata study, like others, confirms that the second most popular purchase location for gift cards is online.
More than one-fifth of gift card buyers in 2006 made their purchase at gift card malls. More than one-quarter are expected to do so this year.
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