Open and Closed loop gift cards.
Overlap in the type of gift card purchased or received.
More respondents purchased open loop gift cards in 2010 as seen in significant increases in the open loop only and both categories. The number of respondents only purchasing closed loop cards decreased significantly.
More consumers are receiving both closed and open loop gift cards, while the number of respondents receiving only closed loop cards has dropped significantly.
How the Cards are being purchased.
As with the previous years, open loop purchasers tend to purchase only one card while closed loop cards have a much more varied distribution.
The total number of cards purchased has increased in 2010, as the average number of both open and closed loop gift cards have increased.
Occasion for Purchase of Closed loop cards
The proportion of customers purchasing closed loop cards for a birthday has increased significantly while purchases for Christmas remain unchanged from last year.
Significantly more people purchase closed loop gift cards for other family members in 2010 than in 2009. Other, less dramatic changes can be found with purchases for friends and siblings.
40% of purchasers believe recipients will redeem their gift cards at the particular merchant location the card was purchased from, while almost just as many many say it’s possible.
The main influence on Gift Card Purchase:
Following the trend in privious years, most gift card purchasers choose a gift card so the receivers can buy what they want, showing a significant increase in 2010. Another significant increase is found in the number of respondents citing flexibility in redeeming a gift card as a reason for purchasing one.
Gift Card Purchase Location as a factor:
Gift card sales continue to shift away from merchants’ own stores and toward gift card malls.
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