Fiserv has just published their 19th annual U.S. Prepaid Consumer Insights survey where find out what people are thinking about gift cards. What struck me are a few of the differences between 2019 and 2021. For example, roughly the same proportion of people say they often buy gift cards for the holidays (41% in 2019, 38% in 2021) but the proportion of people buying them for birthdays has dropped substantially from 65% to 31%.
18% of consumers also say that they buy gift cards for themselves — usually to receive some kind of a discount (45%), but also as part of their participation in a loyalty/rewards program (44%).
I found it interesting that three-quarters of consumers don’t actually care what the gift card looks like — even if it is a gift.
In terms of innovation, 55% of consumers would like to see a gift card they could use at any restaurant, and 43% would like more e-gift cards that can be delivered immediately. 35% would like to be able to store all of their gift cards on their phone.
When it comes to loyalty programs, 37% say they would like to receive a bonus gift card for points compared to only 29% who say they want a dollar amount discount.