Gift Card Statistics

——Why you need to sell your gift cards as soon as possible

 

Another Christmas is coming soon and you will be swamped with all different types of gift cards and e-vouchers from your friends and relatives. A lovely wish and popular gift, but it has got you thinking why you need to sell your gift cards as soon as possible.

 

Here are the statistics about the industry, which was extracted from the National Retail Federation. It draws a clearer picture of how big the gift card trading market is? How many gift cards go unused each year? How much more customers will spend than the balance in gift card? How many traders get their first pot of gold from this industry?

 

1. $160 billion

Do you know how big the gift card market is? As the National Retail Federation estimated, the issued gift card value is about will be total $27.6 billion on the holiday season and it‘s just for the holiday season. Gift cards are also bought for other occasions, such as birthdays, and the total spending over the year is estimated at around $160 billion, increasing nearly 37.5% compared with the last year.

 

2. 1 billion

About 90% of gift cards get put to use quickly, within 2 months of being received. What about the other 10%? Well, some of those cards are used later, of course, but a whole lot of them end up never used. Roughly $1 billion worth of gift cards go unused each year, per CEB TowerGroup. You might think that stores like it when you don’t use their gift cards. Well, there is definitely an opposite to that, because if a $50 card is unused, that’s $50 worth of merchandise or services that doesn’t have to be provided.

 

3. 50%

The retailers will earn either if you don’t use the card or after you sell it. Because it is most likely for you to spend more than the face value of your gift card and roughly 72% customer will spend 20% to 50% more than the balance on the card.

 

 

 

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