Data: Reinventing the Gift Card

PaymentsSource

Date:Oct. 30, 2018

"There is a common belief that gift cards are often purchased as a last-minute shopping item. Retailers placing gift cards at the checkout aisle next to the candy and magazines can act to further this misconception. Based on data from InComm’s 2018 Open-Loop Gift Card Study, almost three-quarters (73 percent) of open-loop gift card purchasers reported that they had planned to buy the card in advance. Only 16 percent stated that the purchase was spontaneous while 11 percent said it was a last minute purchase".

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