Our 2018 Consumer Insights Study takes a look at trends in branded currency and how you might leverage them this year. We've also added a new demographic, Linksters, to the mix:
The average number of physical gift cards received has increased YOY, again. And those surveyed still prefer to give and receive physical gift cards over digital ones.
Consumers surveyed prefer physical branded currency because it’s more personal and easier to use.
They also prefer digital branded currency because it can be sent instantly and purchasing is more convenient.
Consumers surveyed love to give gift cards, more than any other gift.
Self-purchasing spend is on the rise, and the majority of self-purchasers are spending more on themselves than on others.
Consider this in your marketing campaigns and designs.
When buying for ourselves, we spend more on Fast Casual Restaurants than any other vertical.
This split is fairly even across channels, so it’s important to consider this in your strategy.
Online-only merchants attract the largest consumers of e-gift cards. A relatively large number of physical cards are used here too.
have an increasing interest in buying gift cards through a bank website or mobile app.
About 1/3 of consumers reloaded a gift card.
Linksters are reloading the most.
Consumers are reloading online or via mobile app.
are interested in receiving notifications about their gift card balance and special offers by email.
average amount spent over the value of the gift card.
of consumers with a Fine Dining, Fast Casual Restaurant or Drug Store gift card spent more than the value of their card.
Supermarket gift cards are redeemed the most at
And compared to all other business types, consumers overspend the most with a Supermarket gift card ... by $56.
Gift cards bring a ton of value to consumers, so make sure you understand the value they can bring to your business as well.
Linksters are the largest segment buying physical gift cards and the most open minded to digital cards. Having a strategy to reach them when/how/where they want is key.
Do you have one? Is it up to date? From increasing revenue to growing margins to capturing data, make sure that you're leveraging current market opportunities.
For the 5th year in a row, lift is on the rise. Knowing that consumers love to give gift cards over traditional gifts means you'll want to make sure they're gifting you.