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Ecommerce Roundup: Gift cards to push holiday spending
This holiday season, it won't just be toys and clothing under the tree. This year, it will also be gift cards, but are gift cards what people really want?
First, BizRate's new report finds people like giftcards - if they're on the receiving end. Researchers found that while most (77%) Americans have given a gift card in the past year, 66% prefer to receive gift cards this holiday while only 46% plan to give them.
"This dichotomy of wants - wanting to receive but not to buy - of gift cards presents a strong opportunity for retailers to market gift cards as the perfect gift," says Hayley Silver, VP of Bizrate Insights. "Recipient demand is strong, but there appears to be a stigma plaguing the purchasing of gift cards that should be surmountable."
The difference in giving and getting gift cards is different according to demographics. BizRate's report finds 72% of Gen Y shoppers would like to receive a gift card while only 43% plan to gift them, 66% of Gen Xers want gift cards but 52% plan to gift them and 54% of Boomers would like to receive gift cards while 47% plan to gift them.
Meanwhile, data out from iModerate indicates store specific cards are preferred for restaurants, but multi-venue cards are preferred for shopping, with the preferred value being enough to cover a full meal or product. Their research also indicates cards should:
• Be to specific stores that the shopper is known to frequent
• Include a thoughtful note
• Be personalized with wrapping
Image via Shutterstock
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