InComm Research Shows Gift Cards Are Preferred Gift for Special Occasions

InComm, a leading prepaid product and transaction services company, has released the results of a survey it conducted that highlights consumers' attitudes toward giving open-loop gift cards for specific life events and special occasions. In 2016, more than 500 respondents answered questions about the frequency with which they purchase and give gift cards and for which occasions they would like to receive one.

Some of the highlights of the research include:

• Birthdays were the most popular occasion on which to give a gift card, followed by graduations, weddings, and to say thank you.

• 82 percent of respondents said they would appreciate receiving a gift card on their birthday.

• More than a third of respondents said they would appreciate receiving a gift card for a graduation (39 percent), wedding (37 percent), anniversary (34 percent) and as a thank you (42 percent).

• When asked how many gift cards they gave last year, 100 percent said at least one and 92 percent said two or more.

"The versatility of open-loop gift cards benefits both the giver and the recipient. They are quick and convenient gifts that, as this data suggests, are appropriate for any number of occasions, alleviating much of the stress that can come with gift shopping," said Brian Parlotto, Sales & Marketing Executive Vice President at InComm. "With closed-loop options, which are accepted only in certain stores, and open-loop options like Vanilla Gift, which are accepted anywhere, the giver can personalize the gift and the friend or loved one who receives the gift card will be sure to get something they want."

Additionally, younger consumers are finding even more occasions in which to give a gift card. Millennial respondents (between the ages of 25 and 34) noted they often give gift cards when a friend or loved one has a new baby (50 percent) and when a new home is purchased (29 percent).


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