This year holiday gift card spending on both plastic and digital gift cards will top all previous records with sales expecting to reach over $31 billion! Gift cards have shed their reputation of being impersonal and have emerged as the perfect practical gift item for millions of holiday shoppers and are the most requested holiday gift for the 8th year in a row.
Shoppers are expected to spend an average of $47.87 a card, up 6% over last year. Since the National Retail Federation began tracking customers holiday purchasing intentions in 2003, the total spend on gift cards has increased 83%. “Consumers young and old want to find the best way possible to create a happy holiday experience for their loved ones, and gift cards are a great option every time.” Gift cards are a go-to gift for consumers of all ages; adults 65+ will spend the most on gift cards, while young adults will spend the least. In addition, men will spend almost 10% more than women on gift card purchases.
The following charts provide more insight into the 2014 NRF survey results, check out more here.
About the Survey
The NRF 2014 Gift Card Spending Survey was designed to gauge consumer behavior and shopping trends related to the winter holidays. The survey polled 6,593 consumers and was conducted for NRF by Prosper Insights & Analytics, November 3-10, 2014. The consumer poll has a margin of error of plus or minus 1.2 percentage points. Download complete survey results here!