TORONTO, Dec. 3, 2013 /CNW/ - InComm, a leading prepaid product and transaction services company, revealed the findings of a survey, "Gift Card Usage and Attitudes Research," which tracked the 2012 gift card spending patterns of Canadian consumers. The study revealed that purchasing gift cards is a careful and well thought-out process, with considerations such as the category of card, the availability of cards at a retail location, the personality of the recipient and more playing primary factors.
"As increasingly more consumers purchase gift cards every year, especially during the holiday season, we wanted to better understand why they purchase them, what their preferences are and what factors they consider, as well as how those factors may differ based on gender and age," said Frank Monaco, SVP of International, InComm. "This insight can help us and our retail partners optimize the gift card shopping experience for consumers."
When asked who they most frequently purchase gift cards for, 51% of respondents stated for adult family members, while 27% said for teens and 23% for friends. The most commonly bought gift cards for adult family members are department stores at 32%, restaurant/dining at 29% and fast food at 22%. Almost all categories of gift cards are purchased most often for adult family members but with notable exceptions for music/app and toy store cards bought for child family members.
The following were cited as the most popular occasions to purchase gift cards for:
- 83% for Christmas and Hanukkah
- 59% and 56% for women and men birthdays respectively
- 37% and 36% for teen and children birthdays respectively
- 25% as a "thank you"
- 23% as a "just because"
- 22% for an anniversary
Additional mentions include Mother's Day, Father's Day, wedding gift/wedding shower, baby gift/baby shower and graduation.
Survey participants also answered what they would do if their desired gift card was unavailable at the store:
- 54% would go to another store to find that specific card, with 57% of women more likely to go to another store compared to 50% of men
- 26% would purchase a different gift card at the same store, with men more likely to purchase an alternate item than women at 12% to 9%
- 10% would decide not to purchase anything
- 10% would purchase an alternate item
Respondents answered what factors they consider when deciding which gift card to purchase:
- 66% answered the dollar amount/value of the card
- 65% answered the category of card (dining, gaming, etc.); this ranked as the primary factor among those 18-24 years old at 47%
- 57% answered the brand of the card; men indicated this as a primary factor more often than women at 20% vs. 14%
- 45% answered matching the personality of the recipient; women indicated this as a primary factor more often than men at 25% vs. 14%
Additionally, survey participants stated what factors they consider when deciding from which retailer to purchase gift cards. The top motivating factor is the convenience of purchasing from where they usually shop at 56%, followed by which retailer always has the cards they want in stock at 50%, who has the better selection of gift card brands at 48%, and who has the better selection of gift card categories at 47%. Other factors include the location and organization of a retailer's gift card display.
InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. InComm supports more than 400,000 points of distribution and helps retailers build prepaid card destinations, connects brands with new markets and gives consumers a simple, secure shopping experience. InComm stays ahead of emerging trends by analyzing market needs and leveraging its global, innovative commerce platform, go-to-market expertise and extensive partner relationships. With 123 global patents, InComm is headquartered in Atlanta and has offices in North and South America, Europe and the Asia-Pacific region. For more information, visit www.incomm.com or follow us on Twitter at www.twitter.com/incomm.
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