BROOKFIELD, Wis.—Gift card usage is on the rise, according to Fiserv’s Q2 Gift Card Gauge, a quarterly survey of more than 1,000 U.S. consumers which measures consumer spending habits in relation to gift cards.
This quarter’s survey looked specifically at the impact of inflation on consumer spending, and how consumers are using gift card promotions/discounts to help stretch their spending power.
According to the Gift Card Gauge, 37% of consumers have already taken advantage of a gift card promotion in 2022, and 58% say that gift card promotions will motivate them to buy more gift cards during this inflation period.
Additional Findings
Other findings include:
- Consumers find the most value in gift card promotions that offer bonuses (i.e., buy a $50 gift card and get a $10 bonus gift card as an incentive)
- 49% of consumers find the most value in buying gift cards at big box retailers; grocery (38%) and gas station (36%) gift cards are also popular
- While 51% of consumers are significantly reducing their personal shopping habits due to inflation, only 23% of consumers are purchasing fewer gift cards
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