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Consumers turning more to gift cards as payment option

July 22, 2013

If the studies are to be trusted, the vast majority of Americans are planning on using a gift card over the course of the next year. For corporations not yet offering customized gift cards, the message is clear: now's the time to get in on the trend.

If the studies are to be trusted, the vast majority of Americans are planning on using a gift card over the course of the next year. For corporations not yet offering customized gift cards, the message is clear: now’s the time to get in on the trend. 

According to a survey by the Retail Gift Card Association, half of respondents enjoy giving gift cards thanks to the convenience factor that’s associated with purchasing them. Better yet, 71 percent of respondents stated that they feel “very satisfied” when they receive a gift card for another individual.

“This survey shows that gift card continue to evolve in terms of their utility for many gifting occasions and they continue to be coveted by recipients,” said Rebekka Rea, executive director of the organization.

She added that the survey suggests retailers are “rising to the challenge” of instilling confidence in gift cards among their consumers, helping to strengthen the concept of branded currency.

The news is accompanied by increased consumer spending across the board over recent months. Deloitte’s latest consumer spending index showed an incremental increase from May to June in terms of cash flow, suggesting an uptick in future spending patterns

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