Gifts Cards A Phenom in The Hispanic Market
According to Comdata Stored Value Solutions fifth annual gift card survey of US consumers, Hispanics received gift cards with the
highest average value, $71, compared to $41 for Caucasians and $60 for African-Americans. In addition, 26% of Hispanics surveyed report giving gift cards to children as a budgeting tool or in lieu of
an allowance.
Other survey highlights related to Hispanics:
- 40% of Hispanics report buying cards for themselves vs. 30% of Caucasians and 24% of
African-Americans
- 31% of Hispanics report purchasing gift cards at gift card malls, which provide a variety of card options at one location, compared with 26% of Caucasians and
33% of African-Americans
- Hispanics add their own money to increase their purchasing power. 69% of those surveyed say they spend more than the amount of the card, compared with
52% of Caucasians and 44% of African-Americans
- 38% of Hispanics buy cards via the internet, 31% at gift card malls and 6% at charity fundraisers and other events
And,
considering gift cards among the entire population for the 2007 holiday season, the study includes these highlights:
- The average gift card purchaser expects to spend $203 on gift
cards for the 2007 holiday season, up from $186 in 2006
- 38% of those surveyed who have never purchased a gift card are very or somewhat likely to purchase gifts cards this
holiday season, representing an 81% increase in new card users
- 53% of card users often or always spend more than the amount originally loaded onto their cards, and are most
likely to redeem their cards over two visits, increasing store traffic
- 85% purchase gift cards because they want the recipient to be able to select their own gift, while 57%
don't know what to buy
- Department stores are the most popular place to purchase a card, followed by clothing and book stores, then restaurants
The children's
gift card market was measured last year, and showed that:
- One-third of all gift cards purchased last year were purchased for children or teens
- 4% of cards purchased were
for children under the age of five
- Of those who have purchased gift cards for children, 35% were the child's parents, followed by 30% who are aunts or uncles
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