Gift Cards Raise Retail Revenue
Americans love giving and receiving gift cards. They are always in demand, and present retailers with significant incremental sales opportunities, as consumers report spending more when both purchasing and redeeming gift cards. According to a biannual consumer survey of 1,100 US consumers by the Retail Gift Card Association (RGCA), convenience and choice make gift cards extremely popular among consumers. Although mobile and electronic gift cards are not yet widely used by consumers, the adoption of these technologies is expected to continue to rise.
The Association surveyed consumers on their use of gift cards, preferences for giving and spending the cards, and willingness to embrace new gifting options like e-codes, which are digital gift cards that can be purchased online or through a mobile app.