2008 Gift Card purchases focused on necessities

Survey Shows Gift Card spending in 2008 focused on household needs

Gift cards are less fun and more pragmatic in '08

A recent survey shows that not only did gift card spending suffer in 2008 but the focus went on necessities such as food and gas. Archstone consulting produced a very deep and interesting survey which shows that gift card spending totals will dip 5% to 25 billion in 2008. While this remains a massive industry, gift cards were sure to feel the economy as all other sectors did. The interesting note is that gift cards were less "fun" and more practical. Less gift cards given from Nordstrom and REI and more gift cards from Home Depot or gas and grocery stores. This makes sense.

The survey also pointed to the growing trend of gift cards being purchased from outside vendors including drug stores and grocery stores. The kiosks we are all seeing pop up in stores are catching on. People are buying up to 30% of all gift cards and gift certificates via these.

A final key finding is that restaurant and food gift cards will bew the leading category for sales in 2008.

Read more details of the survey here: http://www.archstoneconsulting.com/thought.aspx?id=2588