The winter holidays will soon be here, and that means holiday shopping is in full swing! Spending is projected to be up this year, and that means gift cards will also see a boost as THE most popular gift item. From their convenience to personal feel, it’s easy to see why gift cards are the preferred gift. They are a boon to businesses, especially at this time of the year, increasing sales and bringing in new customers.
Holiday Season Spending
189.6 million is the estimated number of people who shopped between Thanksgiving Day and Cyber Monday this year. That’s an increase of 14 percent over last year’s 165.8 million.
The holiday season accounts for as much as 30% of retailer’s total sales.
Consumers plan to spend a total of $1,048 this holiday season, up 4% from last year:
$659 on gifts for family, friends and co-workers
$227 on non-gift holiday purchases such as food and decorations
$162 on other non-gift purchases for themselves and their families
59% of people surveyed have a gift card at the top of their list
Gift Card Trends
33% spend more on a gift card than a traditional gift.
Consumers spent more than half (55%) of their gifting budget on gift cards.
$59 is the average amount spent over the value of the gift card.
80%+ of consumers with a Fine Dining, Fast Casual Restaurant or Drug Store gift card spent more than the value of their card.
Treat Yourself! 64% purchase gift cards for their own use.
Gift Cards: The Perfect Gift for Holidays, Birthdays and Any Occasion
BirthdayPak leverages the spending power of gift cards for local businesses year-round! Birthdays drive everyday business, and when given a restaurant gift card, we found:
86% of BirthdayPak recipients reported they eat out on their actual birthday most or every year.
54% of general audience respondents reported they eat out on their birthday.
BirthdayPak is another proven way to help capture that other 70%+ of total sales outside of the holiday season. During the holiday season, benefit from repeat business with holiday parties, gift giving, post shopping meals and new year’s celebrations!
To learn more, contact us or call 1-844-845-6039 to connect with a sales professional who can help your business grow.