Learn more about how consumers are spending and shopping this holiday season at NRF's Holiday Headquarters.
The hustle and bustle of the holiday season is in full swing, and plenty of consumers have gift cards on their shopping list. Gift cards rank as the second-most popular gift this holiday season and total spending on gift cards is expected to reach $29 billion this year.
Consumers say they like how gift cards let recipients pick out their own gifts and can be easier and faster to purchase than other items. While 43% of shoppers plan to purchase at least one gift card this season, the option is more popular with certain age groups than others.
Over half of those aged 65 or over plan to purchase a gift card this holiday season, more than any other age group. They also tend to spend more on average — those 65 and older expect to spend $58 per card, about $5 more than the average shopper. Interestingly, these consumers are also most likely to say they’d like to receive a gift card this holiday season.
Of course, the options for gift cards can seem limitless, but most shoppers say they will pick up a restaurant, bank-issued or department store gift card. To follow along with more holiday insights throughout the season, check out NRF’s Winter Holiday Headquarters.
