90% Of U.S. Shoppers Received A Gift Card Over The Past Year

Up to 77% of U.S. consumers have given a friend or family member a gift card in the past year, while even more consumers (90%) have received one or some gift cards over the same period of time, according to the Retail Gift Card Association.

In the spring of 2014, the Retail Gift Card Association surveyed more than 1,100 U.S. consumers on their use of gift cards, their preferences for giving and spending the cards, and their overall willingness to embrace new gifting options.

Consumers enjoy giving and receiving gift cards because they allow people to purchase the item of their choosing (59%). In addition, 28% of givers and 31% of receivers think the gift card’s best feature is its convenience to use online, in-store and via mobile.

Although gift cards will always be present in the retail industry, newer gifting options are emerging, including mobile gift cards and e-codes, which can be purchased online or through a mobile app. More than half of shoppers (54%) are still unaware of these options, and only 17% of shoppers consider themselves “very comfortable” using them. However, 62% of the respondents who purchase either a mobile or e-code gift card do so when they need to send the card immediately. While only 20% plan on purchasing these new gifting options, they appear to be on the rise, as 59% would consider them if attached to a promotion.

Gift cards have a positive effect on retailers and shoppers alike, as the cards increase total sales during the redemption process. As many as 45% of shoppers said they would spend beyond the card’s value after redeeming it in the store or online. Additionally, 72% of shoppers said they would do some shopping for themselves when going to a store or web site to purchase a gift card.

Click hereto access more information on the survey.