Gift Card Timing and Redemption
March 19, 2024

Receiving an open-loop gift card is a pleasant experience for a lucky recipient. Let’s look at how soon consumers redeem the card after receiving it, and how much of its value they spend.

%

of consumers said that they redeem their open-loop gift card within a few days of receipt.

%

spend over the value of the card when redeeming.

How much do consumers typically spend over the value of the card?

%

spend $25-$50 over

%

spend $50-$100 over

%

spend $100 over

Consumers do not sit on their new open-loop gift cards for long. They spend the cards quickly, and a considerable number spend over the value of their card. This is great news for online and brick-and-mortar retailers as it means gift card redemptions can deliver extra dollars to their cash registers.

 

Source: InComm Payments Gift Card Research Q1-Q4 2023 – Results are based on 6,475 gift card shopper respondents surveyed in 2023. 

To learn more, visit our gift card solutions page or explore how we expertly manage your gift card program. 

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