With the holiday season rapidly approaching retailers are planning for the end of the year buying frenzy. Last year total holiday sales increase by 3%. For the last 9 years, gift cards have been one of the most requested holiday gifts. Almost 60% of consumers that celebrate the holiday season would prefer to receive a gift card.
The best gift givers tend to have solid relationships and a personal knowledge of their recipient. The same thing applies to gift cards. Gift cards can still have a personal, creative feel when you are getting a brand you know and love. What better way to thank your employees, customer, vendors, or clients than with a gift card to stock up on their favorite items from their favorite store or go to dinner at a great restaurant.
Holiday Buying Trends
- In 2015, two-thirds of shoppers purchased at least one gift card
- 68% of retailers see their highest revenue on Black Friday
The Millennial Perspective
60% of Millennials love holiday shopping. Not only are they buying gift cards for their family and friends, but they’re also buying gift cards for themselves. Whether it is buying gift cards in bulk at a discount or purchasing them to help stay within budget, buying gift cards to use for everyday purchases are becoming a growing trend.
- 68% of Millennials felt that gift cards limit identity fraud
- 64% consider gift cards safer to use online than other payment methods
- 88% would buy online and pickup in store if it would save them money
- Millennials embrace loyalty – 69% belong to a retail loyalty program
Other Shopping Trends
While gift cards are a big deal for holidays here are some other shopping trends to keep in mind:
- Phone & tablet accounted for 30.4% of 2015 holiday sales
- Shoppers make 43% of their purchase decisions while they are at the store
- Online-only sales, limited time offers, and free shipping are some of the most profitable promotions during the holiday season
- Online sales via computer were higher than mobile and in-store
- 47% of consumers said free shipping was one of the most important factors for online shopping
- 85% of online shoppers will wait 5 days for delivery
- 'Buy online pick up in store' and 'buy online return in store' are on the rise
Give Them What They Want
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