Gift cards poised to do big biz

By Staff -- Home Textiles Today, 11/21/2003 12:00:00 AM

Washington, DC — Gift cards are expected to gain even more ground during holiday 2003, with some 69.9 percent of consumers planning to purchase at least one card this season, according to the National Retail Federation's inaugural Gift Card Survey.

The survey, conducted by BIGresearch in early November, polled 6,551 consumers. On average shoppers plan to spend about $34.24 per card. The average gift card purchaser will be buying more than three cards, spending a total of $114.44.

Gift cards "are no longer considered the lazy man's gift," said NRF president and ceo, Tracy Mullin. "People love to get them."

Nearly half (48.4 percent) of consumers in an earlier NRF holiday survey said they would like to receive gift cards this year, up from 41.3 percent last year.