Gift cards buying groceries at Meijer, Walmart
-- Home Textiles Today, 12/16/2008 2:25:00 PM
Grand Rapids, Mich. and Bentonville, Ark. – Two supercenter retailers say consumers this season are redeeming their gift cards for groceries – not geegaws.
Both Meijer and Walmart commented on the trend this week.
“Just as the use of Meijer gift cards shifted toward gasoline purchases at the peak of gasoline prices last summer, we anticipate a continued increase in the use of gift cards for grocery purchases as economic conditions remain strained,” said Rob Fleener, vp marketing, Meijer. “In a tough economy, many consumers who receive gift cards are choosing to use them for items they really need, rather than splurging on a gift for themselves.”
“Gift card wish lists are more practical this year,” agreed DeDe Priest, Walmart svp, food division.
Meijer, the Upper Midwestern chain that pioneered the supercenter format, said its shoppers have bucked a national trend and have been buying more gift cards in 2008. Meijer cited a new study by America's Research Group and UBS that indicated about 44% of shoppers are not buying gift cards this year, compared with 26% last year and about 27% in 2006.
For its part, Walmart commissioned a study of female shoppers; conducted by BIGresearch, the results showed that almost 70% would like to receive a gift card and choose their own gift, and about half would be pleased with a gift card for groceries.
While kids and teens seemed likely to spend gift cards on electronics, the Walmart adult survey respondents said they would redeem their cards for apparel and accessories (44.2%) and food (40.4%).
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