Gift Card Spending Seen Rising
Overall spending on gift cards this holiday season is expected to reach $24.78 billion, with the average American shopper spending $145.61.
That's according to a forecast released prior to the holidays by the National Retail Federation. The per-shopper average is a nearly $6 increase over last year's number. Gift cards have also been the most requested holiday gift for the fourth straight year.
"This holiday season we expect Americans to gravitate toward both sale and non-sale items, including gift cards, which in recent years have been passed up for heavily discounted merchandise,” NRF President and CEO Matthew Shay said as part of the announcement. “With people focusing less on price and more on value this holiday season, Americans may choose to buy gift cards due to their convenience and popularity among gift recipients.”