Last Minute Shoppers Will Go for The Gift Cards, Shows Fiserv Research
Consumers plan to give gift cards to family, friends, co-workers, and essential workers
BROOKFIELD, Wis., December 21, 2020 – According to the Holiday 2020 Gift Card Gauge from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, 81% of U.S. consumers will give at least one gift card this holiday season, with 38% planning to give five or more. Additionally, 84% say a gift card is their last-minute gift of choice this year, and 32% say they anticipate purchasing gift cards in the week leading up to the holidays.
“The convenience and ‘can’t go wrong’ attributes of gift cards make them the first choice for many holiday shoppers,” said Dom Morea, senior vice president and head of Prepaid at Fiserv. “Gift cards appeal strongly to last minute buyers, particularly so in the current pandemic environment when many are hesitant to browse in stores.”
Highlights from the Holiday 2020 Gift Card Gauge can be viewed at fiserv.com/en/lp/gift-solutions.
The top reasons for giving gift cards this holiday season are because consumers are unsure what physical gift to purchase (46%), like that recipients can purchase their own gift (44%) and like not having to shop in a store (40%).
Regardless of the format in which it is received – physical or digital - nearly half of (48%) consumers plan to spend their gift cards primarily online, with another 34% saying they will spend gift cards both online and in-store.
Thanking Essential Workers
Consumers plan to buy gift cards for people inside and outside the family, including essential workers:
- Consumers plan to give gift cards to immediate (68%) and extended (40%) family members
- 30% of consumers plan to give a gift card to a close friend, while 17% will gift a co-worker
- Teachers (10%), postal workers (10%), housekeepers (7%), hairstylists (7%), and waste management professionals (5%) are the most popular essential workers for whom to purchase gift cards
- 33% of consumers plan to spend $20-$30 per gift card, 11% will spend $40-$50, and 22% of gift cards will be worth more than $50.
- Consumers would like to receive gift cards from their employer, with 82% preferring a gift card from their employer over an actual gift.
The Gift Card Gauge from Fiserv tracks consumer perceptions and attitudes about gift cards. The 2020 Holiday Gift Card Gauge surveyed more than 1,000 American consumers age 18 and older about their purchase and use of physical and digital gift cards during the holidays. The survey was conducted in December 2020.
- Gift Card Gauge – Holiday 2020 Infographic
Fiserv, Inc. aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE World's Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
# # #
For more information contact:
Ann S. Cave
Vice President, External Communications
Manager, Public Relations