Seven of every 10 shoppers plan to buy gift cards this holiday season and, among them, 92 percent of shoppers plan to spend either the same amount or more on gift cards than they spent last year, according to an interim holiday spending report by Stored Value Solutions (SVS).
The survey also found the average consumer plans to spend more than $230 on gift cards; 90 percent of consumers that have finished some, but not most of their shopping (26 to 50 percent), plan to purchase gift cards; and 58 percent of consumers between the ages of 18 and 35 plan to increase the amount they spend on gift cards.
SVS’s research is tracked against real-time activity the company sees firsthand, including first-time gift card sales, increases or decreases in same-merchant sales, and average dollar amounts loaded onto gift cards. A nationally representative sample of 1,000 adults age 18 and older completed a brief survey Dec. 1-2. Click here for the full SVS report.
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