News Brief
Consumers May Be Burning Out On Gift Cards
Aug 23, 2007, 5:00 AM
Women's Wear Daily reports that consumers, annoyed with expiration dates and fees associated with non-use, may be tiring of those ubiquitous gift cards: Three-quarters of the 1,500 adults in one poll described some retail practices associated with cards as "irritating."
Growth in the volume of gift cards being purchased has been showing signs of slowing, from about $29 billion in 2006--up 21% from $24 billion in 2005, to a projected $34 billion this year--a 17% rise, based on the findings of TowerGroup, a consulting arm of MasterCard Worldwide.
Beginning next year, increases in gift-card business are anticipated to slow further, increasing 6% in 2008 ($36 billion); 3% in 2009 ($37 billion) and 5% in 2010 ($39 billion).
--Sarah Mahoney
Recent Marketing Daily Articles
-
Skyy Launches 'Be Part Of The Art' May 21, 5:57 a.m.
To support the debut of its new Skyy Infusions Moscato Grape variety, Skyy Vodka has launched ... -
Miller64 Partners With Former Pro Athletes May 20, 10:30 p.m.
Miller64 is launching "GO64," a summer-long initiative that will include local events, celebrity appearances, giveaways and ... -
Vespa Looks Back: 50 Years Of 50cc's May 20, 4:36 p.m.
Vespa has been tooling about since the ’40s, and sidelining as a movie star since the ... -
Industry Satisfaction Lagging, But Improving May 20, 4:02 p.m.
For the first time in years, the telecom industry is seeing improved customer satisfaction scores. But ... -
OMMA Social: Macy's Looks To Social For Connection May 20, 3:25 p.m.
Macy's is using social to connect with customers. That, said Jennifer Kasper, VP of digital media ... -
4 Types Of Marketing Cultures: How Fast Is Yours? May 20, 9:16 a.m.
Marketers everywhere may be talking about creating a fast-moving culture of innovation, but most CMOs will ... -
United Expands Loyalty Program To Businesses May 19, 10:13 p.m.
United Airlines is launching the MileagePlus Small Business Network, the first U.S. travel loyalty program that ... -
Champs Taps Westbrook For Ad Push May 17, 4:52 p.m.
When it comes to a spokesperson deal, if you’re a star athlete you don’t necessarily have ... -
Strategic Vision: Domestics' Strong Showing In Quality May 17, 4:47 p.m.
For several years there has been convergence in the automotive market. No, we're not speaking of ... -
Athenos Unleashes 'Cooking With Yiayia' Campaign May 17, 9:48 a.m.
Julia Child she isn’t, but Yiayia brings her own, trademark irascible appeal to a new series ...
Be the first to comment on "Consumers May Be Burning Out On Gift Cards "
Leave a Comment