Over 3,300 U.S. consumers over the age of 18 were surveyed for this year’s
Consumer Insights Study from
First Data. The Consumer Insights study provides a comprehensive gift card insights on consumer usage. This year’s study shows how vital gift card programs are to a retailer’s marketing strategy. The popularity of online shopping and usage of mobile wallets have been embraced by consumers, as the desire grows for faster and more personalized shopping experiences.
We know that gift cards can drive traffic to your store, but how are they increasing retailers’ bottom line?
Virtual gift cards, sometimes known as digital gift cards, eGift cards, and eCertificates continue to grow in popularity. While virtual gift cards are trending upwards, they are not taking market share away from plastic gift cards. Offering the right mix of both plastic and virtual gift cards is important.
Plastic gift cards
Virtual gift cards
Mobile wallets and online shopping continue to grow along with the desire for perks and the overall “customer experience”. Gift cards are becoming the ideal tool for customers who desire to be incentivized, rewarded, and recognized. 64% of shoppers would prefer to receive a $10 gift card as a reward for using retailer loyalty apps and mobile wallet programs (with 16% preferring the reward in the form of a coupon).
In the last three years gift card self-purchasing has more than doubled. 45% of consumers purchased gift cards for themselves in 2015. Self-purchasing gift cards are also popular across all generations: 49% of millennials, 44% of generation x, and 42% of baby boomers all reported self-purchasing gift cards in 2015. Gift cards aren’t just for giving!