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.
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.