BROOKFIELD, Wis.—Eighty-one percent of U.S. consumers will give at least one gift card this holiday season, with 38% planning to give five or more, according to a new study from Fiserv.
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 new Holiday 2020 Gift Card Gauge from Fiserv reveals.
The top reasons for giving gift cards this holiday season include consumers saying they are unsure what physical gift to purchase (46%), that they like that recipients can purchase their own gift (44%) and they 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, the study shows.
Additional Findings
According to the Fiserv survey, 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.