JA New York Shows
Special Delivery Chicago
October 14 - 16, 2012
McCormick Place, Chicago, Illinois
Video
Visit Our YouTube Player
Watch fine jewelry trade videos selected by the editors of National Jeweler
Market Developments
Gift card spending to hit three-year high
Washington--Shoppers will spend more on gift cards this year than they have in three years with total spend in the category reaching $27.8 billion, the National Retail Federation (NRF) predicts.
According to the NRF’s 2011 “Holiday Consumer Intentions and Actions Survey” conducted by BIGresearch, 80 percent of shoppers plan to purchase gift cards this season, up from 77 percent last year.
They will spend an average of $155.43 on all the gift cards they buy, up from $145.61 last year. Men will spend more overall than women, doling out an average of $164.24 compared to women’s $147.06.
Average spend per gift card also is expected to climb, from $41.48 last year to $43.23 this year, according to the survey.
Among those 80 percent giving gift cards, the reasons for choosing them as presents vary, though the most popular reasons seem to be practicality--giving a gift card ensures the recipient gets exactly what they want--cited by 46 percent of givers, and convenience, cited by 19 percent.
“Consumers won’t sacrifice sentiment for bells and whistles on their gift cards this year. Instead, they will combine them,” BIGresearch Consumer Insights Director Pam Goodfellow said. “Whether it’s personalized with a video or comes in the form of a mobile or e-gift card, consumers still view these gifts as the perfect way to show their love and appreciation this holiday season.”
Of those 20 percent who’ll be skipping the gift card section this holiday season, 26 percent said it’s because they are impersonal, while 17 percent are concerned about fees and expiration dates, and 9 percent said they want to buy items on sale to get the most for their money.
The most popular retail outlet for which people are buying gift cards are department stores, cited by 38 percent of respondents. Also popular are restaurants, 34 percent, and entertainment venues, 18 percent, which includes outings such as the movies and concerts.
The NRF’s Holiday Consumer Intentions and Actions Survey polled 8,502 consumers between Nov. 1 and 8. It was designed to gauge consumer behavior and trends for the winter holidays.









