First Data has conducted a Consumer Insights Gift Card Study in the U.S. since 2001 to identify gift card trends. Our 2008 U.S. Gift Card Consumer Insights Survey yielded several key findings including: consumers are buying more cards, growth of open-loop gift cards, a positive impact on purchase amount and frequency of visit, and more.
Data for the First Data 2008 U.S. Gift Card Consumer Insights Survey was collected September 22-30, 2008. The data was weighted to match U.S. census data and consisted of online surveys with 2,400 adult consumers 18 years of age or older who purchased or received a gift card in the past 12 months. The results are statistically valid at the 95 percent confidence level with a margin of error of plus or minus 2 percent.
1. Fewer Consumers Purchased Gift Cards in 2008
70 percent of U.S. consumers reported purchasing gift cards in the past 12 months, compared to 73 percent who did so in 2007.
2. Consumers are Buying More Cards
Consumers are buying more gift cards with the average number of gift cards purchased totaling 6.3 over the last 12 months compared to 5.6 in 2007.
3. Open-Loop Gift Cards Saw Growth in Number of Purchasers and Receivers
Forty-four percent of consumers purchased and 40 percent received open-loop gift cards in the past 12 months.
4. Gift Cards Have Positive Impact on Purchase Amount and Frequency of Visit
Gift cards have a positive impact on the purchase amount ,with 69 percent of consumers spending an average of $33 more than the value of the closed-loop gift card.