Utah People's Post

The Latest News from the Beehive State

Saturday, June 25, 2022
Log in
  • National News
    • Female Caseworker Killed & Doctor Shot in Philadelphia
  • State News
    • Car Chase Leads to Drug Arrest
  • Tech & Science
  • Health
    • How to Prepare For Ticks Season
    • Magical Weight Loss Bean Scam
  • Sports
  • Business
You are here: Home / Business / U.S. Shoppers Will Be Spending $26 Billion Just For Gift Cards

U.S. Shoppers Will Be Spending $26 Billion Just For Gift Cards

December 25, 2015 Posted by Jack Ford

gift cards

Christmas day is finally here, and if you still have more shopping to do, you’ve got a last-minute escape that never fails: gift cards. Many believe that giving your friends and (extended) family gift cards is much better than just handing them money – or a gift that would be returned afterwards.

By the end of the holiday season, predictions of the National Retail Federation say U.S. shoppers will be spending $26 billion just for gift cards. Plus, annual estimates say the bulk of the transactions occur during the final four days before Christmas Day.

Roughly 75 percent of surveyed Americans said they purchased at least one gift card for their friends. The main reason for buying the cards? Convenience. And this very convenience of gift cards amounts to $120 billion in the U.S. – and that it over the course of only one year.

However, analysts expect the business of gift cards to reach unprecedented rates by the end of the holiday season in 2017, driven by the increasing number of companies that employ the cards for various purposes. For example, Volkswagen was prompted to give away gift cards to customers affected by its recent scandal.

For the ninth consecutive year in the U.S., gift cards have maintained their status as “most wanted gift for the holidays,” as reported by NRF. In a 2015 survey, almost 60 percent of the participants said they would prefer to receive a gift card for holidays, especially when it comes to acquaintances or distant relatives.

According to retail analysts, young people are the most prone to give gift cards, as they prefer the cash in the gift cards rather than a gift they won’t like. It’s a win-win situation, and when both the giver and the receiver are happy, it makes for a festive Christmas.

Most people have a hard time figuring out what to buy for Christmas, especially for young people who always seem obsessed with gadgets and technology. So gift cards are the perfect solution, saving shoppers a lot of trouble – and the recipients are also merry, free to spend them at their heart content over the next year.

Analysts have pegged the lack of inspiration to be the main driver toward gift cards, particularly when the recipients do not have a list of must-have gifts. Pleasing your loved ones can be rather difficult given the limited array of options: smartphones, big screen TVs, tablets or accessories.
Image Source: Rishabhsood

Share this:

  • Tweet
  • Share on Tumblr
  • Email

Filed Under: Business

mm

About Jack Ford

An experienced journalist, who celebrated 20 years since graduating from the University of Montana not so long ago, Jack enjoys tackling crucial world problems. Throughout his career, Jack has gone from writing sports columns to covering world-changing events. “In all these years” -says Jack- “that I fell in love with the media and the freedom it promises”. Jack has a keen interest in the US political scene as well as the tense circumstances of the Middle East.

Woman working out at the gym

Just 23% of Americans Are Working Out Enough in Their Spare Time

June 29, 2018 By Amelia Donovan

Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)

June 29, 2018 By Amelia Donovan

United Airlines airplane

Passenger Mysteriously Dies on United Airlines flight Bound for Boston

June 28, 2018 By Amelia Donovan

Breakfast sandwich

Here Are Some Foods No Nutritionist Would Ever Eat

June 27, 2018 By Amelia Donovan

Poppy flower

UN Warns of Surge in Opium-based Drugs and Cocaine Supply

June 27, 2018 By Amelia Donovan

U.S.-Canada border

French Jogger Detained 2 Weeks for Accidentally Crossing Border

June 26, 2018 By Amelia Donovan

Plus size model

Normalizing Plus Size Could Fuel Obesity Crisis (Study)

June 25, 2018 By Amelia Donovan

Giant manta ray

Unique Manta Ray Nursery Spotted off Texas Coast

June 23, 2018 By Amelia Donovan

The rainbow flag

WHO Scraps Transgenderism from List of Mental Illnesses

June 22, 2018 By Amelia Donovan

456 People Dead at U.K. Hospital after Taking too Many Painkillers

June 21, 2018 By Amelia Donovan

Kenyan girls dancing

Kenyans Facing Poor Nutrition as Supermarket Shopping Is on the Rise

June 20, 2018 By Amelia Donovan

Pages

  • About
  • Contact
  • Privacy Policy GDPR
  • Staff
  • Terms and Conditions

Recent Posts

  • Just 23% of Americans Are Working Out Enough in Their Spare Time
  • Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)
  • Passenger Mysteriously Dies on United Airlines flight Bound for Boston
  • Here Are Some Foods No Nutritionist Would Ever Eat
  • UN Warns of Surge in Opium-based Drugs and Cocaine Supply
  • French Jogger Detained 2 Weeks for Accidentally Crossing Border
  • Normalizing Plus Size Could Fuel Obesity Crisis (Study)

Related Articles

  • Passenger Mysteriously Dies on United Airlines flight Bound for Boston

    Jun 28, 2018
  • Fishing boat in the Atlantic Ocean

    U.S. Seafood Dealer Lied About Fish Being Caught in U.S.

    Jun 14, 2018
  • Tesla car on the road

    Tesla’s Autopilot Software To ‘Nag’ Drivers to Keep Hands on Wheel

    Jun 12, 2018
  • Mexico Slaps Tariffs on U.S. Steel, Pork, and Bourbon

    Jun 6, 2018
  • Dairy cows on a pasture

    Kentucky Milk Plant Closes after Losing Contract with Walmart

    Jun 4, 2018
  • Tesla founder Elon Musk

    Elon Musk Upset About Latest Tesla Crash Being ‘Front Page News’

    May 16, 2018
  • Orange juice bottles on Whole Foods shelves

    Amazon to Roll Out New Prime Perks for Whole Foods Shoppers

    May 2, 2018
  • U.S. Liquor Store

    Alcohol Sales on Sunday No Longer Banned in Indiana

    Mar 5, 2018
  • Bitcoin coins on 100-dollar bills

    Iran Unveils Its First National Cryptocurrency

    Feb 23, 2018
  • Transavia Airlines plane taking off

    Man on Plane who Wouldn’t Stop Farting Causes Emergency Landing

    Feb 19, 2018

Categories

  • Business
  • Entertainment
  • Health
  • National News
  • Nature
  • Provo
  • Salt Lake News
  • Science
  • Sports
  • State News
  • Tech & Science
  • Technology
  • Uncategorized
  • West Jordan
  • West Valley City
  • World

Copyright © 2022 utahpeoplespost.com

About · Privacy Policy · Terms of Use · Site Map · Contact