Gift Cards Are Less Popular This Holiday Season, Study Finds

Consumers are turning away from gift cards in favor of physical gifts as Cyber Weekend approaches, according to a study by Jungle Scout.  

Of the shoppers polled, 49% plan to purchase gift cards -- down from 65% in 2021. In contrast, 59% will give products such as clothing, electronics and jewelry.  

In addition, 29% will give a virtual product like a Netflix or Spotify subscription, a virtual gym membership or a Masterclass membership. 

But fewer gift-givers are bestowing physical product delivery/subscription-box services such as Blue Apron, book-of-the-month club, or beauty box — 23% versus 27% in 2021. 

As for their buying strategies, 56% said they search for deals and discounts. But 40% also seek surprise gifts that recipients didn’t ask for or expect to receive.  

In addition, 28% week out specific brands, and 19% will buy gifts based on ideas they see in social media.  

Meanwhile, 57% of consumers will shop on Black Friday and 43% on Cyber Monday. In addition, 20% will buy on Small Business Saturday. And 18% do not plan to shop during these retail events. 

Jungle Scout surveyed 1,008 consumers on October 14, 2022.

 

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