What are the most popular gift card vendors? More than 20% of cards remain unredeemed after one year-and about 6% of gift cards are never used. But after the first 180 days, the likelihood of spending declines dramatically. When is gift card spending most likely to occur?Ī full 82% of consumers aim to spend a gift card within six months. (Who wouldn’t rather have a gift card than some company swag or an “appreciation plaque”?) Gift cards are also becoming a very popular employee reward. The following percentages of consumers say gift cards are their go-to present for these occasions: Gift cards are a popular Mother’s Day present and a widespread option for celebrating milestones, according to Fiserv’s May 2021 report. ![]() A Blackhawk survey found that 83% of consumers plan to give a gift card instead of a physical gift. In 2021, 29% of consumers planned to purchase more gift cards than the previous year to avoid supply chain disruptions. In 2021, from November through mid-December, gift card sales rose by 114% compared with the same period in 2020. According to Research Dive, gift cards are the most popular Christmas present in the U.S. The holiday season is peak gift card buying time. Consumers purchased an average of 3.4 digital gift cards and 6.4 physical gift cards in the past year. Widespread use of smartphones and, of course, the pandemic have driven the market’s growth.Īccording to Blackhawk Network, 27% of consumers buy a digital gift card at least once per quarter, while 42% buy a physical gift card at least that often. Electronics and gaming rose substantially, and digital streaming gift cards doubled. In 2020, e-gift card use more than doubled, especially in specific categories, found Research and Markets. How does e-gift card use measure up against physical cards? Waiting until the retailer offers something they want.Ħ7% of consumers bought a gift card in the past year, says Blackhawk Network.Waiting for a time when it will help them more financially.Here are the top three reasons people put off using a gift card, according to Blackhawk’s 2022 report: And 64% of those who lose gift cards are in higher-income tiers, found BankRate. On their heels follow Boomers, at 52%, with an average unused gift card value of $113, and Gen Xers, at 47%, with an average value of $112. Millennials, it turns out-56% have unused gift cards, with an average value of $139. Which demographics most often forget to use them? Twenty-nine percent keep their gift cards so long that they expire, while 21% hold onto them for so long that the business closes. How many people forget to use gift cards?Ī BankRate survey found that 51% of people forget to use gift cards. This can substantially boost retail sales over the next four to six quarters, they add. The industry is predicted to grow by 9.5% in 2022, reaching over $188 billion, Research and Markets announced in a March 2022 report. In the U.S., gift cards have been rising in popularity-meaning more unused gift cards, as these stats show. Read on for more surprising gift card stats and trends! National Gift Card Stats Restaurant gift cards make up a sizable portion of the market, at 27% (for physical gift cards).29% of people planned to purchase gift cards to avoid supply chain disruptions in 2021.After two months, the likelihood of using a gift card plummets dramatically.In 2021, holiday sales of gift cards rose by 114% above the 2020 holiday season.64% of people who lose gift cards are in higher income brackets.56% of Millennials have unused gift cards, which total $139 on average.21% of people keep gift cards so long that the business shuts down.51% of people forget to use their gift cards.Here’s a roundup of the most astonishing gift card statistics for 2021: ![]() Image Source Striking Gift Card Statistics We’ll also explore national and global trends in gift card sales. How many gift cards do we receive, on average? And what portion of them ever gets spent? Let’s look at a few of the most surprising statistics about gift cards from the past year. Learn why gift cards go unused – and much more!
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