Gift Card Sales Expected to Surge Again During Holidays: NRF
WASHINGTON -- With gift cards ranking third on consumers' wish lists this year, there is no sign that the popularity of the products is slowing down, according to the findings of the latest National Retail Federation (NRF) survey. The third annual NRF Gift Card Survey, conducted by BIGresearch, found that gift card sales will total $18.48 billion this holiday season, a 6.6 percent increase over 2004, when holiday gift card sales hit $17.34 billion. The average consumer will spend $88.03 on gift cards this holiday season, 15.6 percent of their holiday gift budget.