A Blackhawk Network report has revealed consumers spent 7% more on gift cards during the 2019 holiday season than in 2018.
According to Blackhawk's earlier 2019 BrandedPay Holiday Shopping Preview report, surveyed shoppers' holiday gift card spend was expected to increase despite fewer shopping days between Black Friday and Christmas. Blackhawk's post-holiday report found consumers' spending to be on par with those forecasts.
The growth was supported by a 4.5% increase in digital gift card sales and the rapidly increasing popularity of curated cards, which will likely continue trending into the new year.
Physical gift cards continue to remain the most popular option among consumers, but more streamlined and user-friendly digital and mobile gift card options continue to expand the adoption and application of e-gifts. Ecommerce sales during the holiday were up more than 12% and digital gift cards accounted for nearly 20% of holiday gift card sales in 2019. Blackhawk's research also found 23% of surveyed respondents reported receiving digital gift cards.
According to Blackhawk's research, 33% of surveyed consumers received a gift they were not satisfied with this holiday season. 53% of consumers surveyed plan to use their gift cards right away to take advantage of sales after the holidays. Nearly 3 out of 5 consumers surveyed plan to spend more than the value of their gift card with more than half of consumers (52%) planning to spend as much as USD 30 more.
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