Retail News

Booming 2020 gift card sales could hurt retailers this year and help them next year

CNBC 12/24/2020

Ex Walmart CEO Bill Simon says higher gift card purchases now may hurt retailers a little this year, but help them in 2021. A Blackhawk Network survey expects an increase of nineteen percent in purchases this year. Simon says it’s hard to measure holiday sales since gift card purchases cause liabilities on balance sheets now, but will help sales as they are redeemed.

 

 

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