Gift Card Spending to Rise This Holiday Season
After going to head-to-head with discounted holiday gifts like luxury cashmere sweaters and appliances last year, gift cards are expected to emerge as winners this holiday season. According to NRF’s 2010 Gift Card Consumer Intentions and Actions survey, conducted by BIGresearch, Americans will spend an average of $145.61 on gift cards, up from $139.91 last year. Total gift card spending is expected to reach $24.78 billion. NRF’s first holiday survey, released last month, found that gift cards remain the most requested holiday gift, marking the fourth year in a row gift cards have topped consumers’ wish lists.