Gift Card Sales Continue to Soar

December 26, 2012, Written By Natalie Rutledge

A new study gives more evidence about American’s growing love affair with gift cards.

Approximately 85 percent of Americans will purchase a gift card in 2012 according to CEB TowerGroup research. Sales will exceed $110 billion, and spillage–the amount of money that goes unused on a gift card–will drop to $1.7 billion.

Gift card sales are expected to reach $130 billion by 2015.

The good news for retailers is that 30 percent of recipients will spend at least $25 more than the value of the card when they go to redeem the card.

The survey says Americans will spend $40 billion on open loop cards offered by American Express, Visa, MasterCard and Discover; $19 billion on restaurant gift cards; and $36 billion on merchant gift cards. Electronic gift cards are only predicted to reach $3 billion in 2012. However, sales of these electronic cards are projected to reach $16 billion by 2015.

This entry was posted in Credit Card News and tagged CEB TowerGroup , gift cards , holiday spending

The information contained within this article was accurate as of December 26, 2012. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at [email protected]
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