WASHINGTON - Retailers can expect to see a surge in gift card sales this holiday season, according to the fourth annual National Retail Federation (NRF) Gift Card Survey, conducted by BIGresearch, Worthington, Ohio, which found that gift card sales will total $24.81 billion this holiday season, an impressive $6 billion increase over 2005 when gift card sales hit $18.48 billion. The average consumer will spend more on gift cards than they did last year with $116.51 this year vs. $88.03 in 2005. "Consumers love gift cards because they take the guessing out of holiday shopping and retailers love them because they are easy to stock and take up minimum shelf space," said Tracy Mullin, NRF President and chief executive officer. Nearly four-fifths (79.7%] of consumers polled said that they plan on purchasing at least one gift card this holiday season and more than half [52.8%] said they would like to receive a gift card this year.
Gift Card Sales $6 Billion Higher Than 2005
WASHINGTON - Retailers can expect to see a surge in gift card sales this holiday season, according to the fourth annual National Retail Federation (NRF) Gift Card Survey, conducted by BIGresearch, Worthington, Ohio, which found that gift card sales will total $24.81 billion this holiday season, an impressive $6 billion increase over 2005 when gift card sales hit $18.48 billion.