Gift Receivers Want to Shop for Themselves
By George Anderson
Fewer consumers may be returning their holiday gifts this year because more of them will be picking the gifts out for themselves.
Americans tired of waiting on long checkout lines and searching for the right gift to give hard-to-shop-for family and friends are buying gift cards instead, says The New York Times.
A survey by American Express found that 69 percent of gift buyers wanted to give money and gift certificates as a present. Seventy-two percent of gift recipients wanted to get them instead of a present.
Moderator’s Comment: What effect will an increase in
gift cards purchased have on retail sales?
We wonder what percentage of gift card redeemers go above
their card’s limit to purchase additional or more expensive items. The use of
credit cards increases the size of purchases versus cash. Will gift cards drive
this number even higher? [George
Anderson – Moderator]