10 Facts About Gift Cards

Gift card statistics abound as they become an increasingly popular gift and money-management method. Here are a few facts to share during your next cocktail party:
1
Gift cards have been the most requested item on holiday wish lists for the past seven years (2007-2013).
2
Purchases made with a gift card are between 20% and 50% higher than the average purchase price.
3
Gift cards are the most profitable square foot of selling space at many retail sites.
4
Christmas is the top purchase occasion for gift cards, followed by birthdays and Mother's Day.
5
40.3% of shoppers will purchase a department store gift card for friends and family, followed by 34.2% of shoppers opting for a restaurant gift card.
6
The most common gift card amount is $25.
7
40% of gift card recipients do not use the full amount on their card, and leave an average balance of $2.30.
8
43.1% of shoppers say they give gift cards because they allow the recipient to select their own gift.
9
Between 2005 and 2011, $41 billion in gift cards went unused.
10
American households have an average of $300 in unredeemed gift cards.


Sources: National Retail Federation, BusinessPundit.com, GRI Financial Services, Inc., Wall Street Journal