Who Is Giving Gift Cards This Holiday Season And Why?
Gift cards are increasingly becoming a part of the holiday shopping landscape
, with more people giving and receiving them each year. There is a definite trend toward giving these versatile and easy-to-purchase presents, with the majority of people now buying at least one over the holiday season.Spending Index Reveals Popularity For All Ages
Although you might suspect that gift cards are most popular with younger, savvier shoppers, they are actually quite common with shoppers in every age group. A recent spending index survey of over 1200 online shoppers indicates that 65% of men and 74% of women of all ages plan on giving retail vouchers this holiday season. The breakdown by age revealed that people between the ages of 35 and 44 were most likely to purchase them, with three quarters choosing this item for the holidays. Even among the group least likely to purchase these vouchers as presents, 63% plan on giving at least one during winter holidays.
How Income Impacts Gift Card Purchases
Income had some impact on the decision to buy gift cards online, with a staggering 78% of shoppers in the median income range of $50,000 to $75,000 purchasing them. Families with higher incomes came in a close second with 73% purchasing them. Although those at lower income levels purchased less, it was still a majority. For instance, those households making less than $25,000 a year still invested in retail shopping vouchers 63% of the time for the holidays.
Educated, Married, And Professional People Favor Them
The spending index survey had an impressive three-way tie for which region of the United States was most likely to give gift cards, with 70% of survey participants in the Midwest, South, and West intending to buy the vouchers for at least one person in 2010. Among these shoppers, the highest majority of spenders were married, college educated professionals. The survey's results indicate that professional individuals with families were most likely to use vouchers for specific stores as presents this holiday season.
Why Are People Buying Gift Cards For The Holidays?
It's obvious that the majority of people will buy at least one or two this year, but why are they becoming more popular? There were several reasons cited in the spending index survey, with motivations ranging from ease of purchase to being at a loss for what to give someone.
'Soccer moms' who are rushing from one sport or school activity to the next don't have much time to do holiday shopping these days. They appreciate being able to buy gift cards online when their kids are otherwise occupied. These women love to give holiday presents but aren't able to carve out a big chunk of time to choose specific items for everyone on their list.
Surprisingly, even shop-a-holics enjoy giving gift cards to friends and loved ones. Why? Because they can't imagine a better reward than a free shopping spree at their favorite store! They give others the opportunity to have a mini shopping spree of their own with every card they purchase.
Grandparents, aunts, and uncles all frequently turned to gift cards for grandchildren, nieces, and nephews. These are the people who have relatives they love, but they may not have a clue about what children or teens are interested in at any given age. When they're at a loss, this flexible option rescues them from indecision or an unfortunate purchase.
Work-a-holics have difficulty finding the time to go to a mall or shopping center, so they buy gift cards online. They can select a card from a favorite store and let the recipient choose what they want. Many men fall into this category; they can afford a lovely gift for their spouse or parents, but dread the act of going to a crowded shopping center and waiting in long lines to buy something that may not fit. Buying a gift card online is quick and easy, and can be used at the recipient's convenience.
Practical shoppers like the idea of giving a gift that will definitely be used rather than tossed into the back of a closet or returned for something else. These are the people who don't want to risk purchasing a present that they think is perfect, but could end up in the re-gifting pile after the holidays are over. A gift card guarantees every recipient will end up with something they love.
If you're considering giving retail vouchers as holiday presents for friends and family this holiday season, you're among millions of others who have come to appreciate the flexibility, affordability, and universal appeal of gift cards for every age and walk of life.
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