Gift cards are a multi billion dollar industry and it's only growing! CardXchange took a consumer survey and compiled the most up to date statistics so you can have a clear picture of what's really going on.
While physical gift cards are growing at an annual rate of 6%, digital gift cards are growing at an annual rate of 200%.
During a 2016 evaluation, it was found that 81% of top internet retailers offered digital gift cards.
Digital gift cards are the fastest growing segment within the $127 billion gift card industry. E-gifting is expected to hit 10 billion by 2016 and $14 billion by 2017, comprising nearly 10% of the gift card market.
Fifty percent of respondents said they would prefer to have a digital gift card scanned from their phone than carry an email printout. Also, 53% said they would be interested in storing gift cards on their phones.
Since 2014, CardXchange has increased the amount of gift cards that get sold as ecards. In the past 2 years, we accepted over 100 more e-gift card merchants!
During the holiday season, digital gift cards are more frequently purchased (76% vs 66%) on CardXchange.com than physical gift cards.
An increase of 15%.
73% of consumers said that they will be purchasing a gift card this holiday season.
On average most consumers purchase 2 gift cards during the holiday season, followed closely by 3 gift cards.
50% of consumers like allowing the recipient to purchase their own gift. Almost 25% of consumers say that gift cards are easier to buy.
The higher your income, the more likely you are to have purchased or received a digital gift card.
Millennials are more than twice as likely to have purchased or received a digital gift card than someone above the age of 35.
Where you live can make a big difference in whether you have purchased or received a digital gift card. Midwesterners are less likely to have purchased a digital gift card than their eastern and western counterparts.
In 2015 and 2016, CardXchange conducted a survey to see how many people received digital gift cards. We saw a marked 22% increase of people who had digital gift cards in 2016 than in 2015.
Walmart, Target, Home Depot, Lowes, TJ Maxx, Itunes, Lowes Merchandise Credit, Home Depot Merchandise Credit, CVS, Macys, Best Buy, Starbucks, JCPenney, eBay, Kohls, Toys R Us, Mcdonalds, Sears, AMC Theatres
Miss our old statistics page? Gift Card Statistics 2015