Despite a festive spending slowdown, the GCVA, in collaboration with Global Data, reveals a compelling shift in shopping habits during the holiday season.
Their nationally representative survey of 2,000 consumers indicates that over 20 million gift cards were exchanged during Christmas 2023, with nearly a third (31 percent) of respondents receiving one.
Interestingly, almost a quarter (24 percent) of those surveyed received more gift cards than in previous years.
Younger generations emerged as the primary recipients, with an astonishing 50 percent of those aged 16-24 unwrapping the gift of a gift card, compared to 18 percent among the 55-64 age group.
The research also showed diverse reasons why gift cards are a popular choice.
Posted: 18 March 2024
