Gift cards are now firmly entrenched as the most popular type of holiday present as well as a go-to gift for most other special occasions. They are also shedding their reputation as an impersonal present, thanks to increased customization and the rise of social gifting. But increased sales and changing consumer perceptions are only the tip of the iceberg as far as the future of the gift card market is concerned.
You can use the information and statistics below to learn more about the current gift card market, as well as how the market evolved and where it's headed.
Gift Card Sales Statistics
Gift Card Sales from 1999 to 2022
Historic and Projected Gift Card Sales Over Time
Year
Dollar Amount (in Billions)
Year-Over-Year Change
2027* $255 25% 2023* $204 5% 2022 $195 13% 2021 $173 11.00% 2020 $156 -4.56% 2019 $163 1.91% 2018 $160 7.38% 2017 $149 6.00% 2016 $140 7.00% 2015 $130 -7.14% 2014 $124 5.00% 2013 $118 10.00% 2012 $107 8.00% 2011 $99 9.00% 2010 $91 5.00% 2009 $87 -4.00% 2008 $91 -6.00% 2007 $97 17.00% 2006 $83 51% 2004 $55 22.00% 2003 $45 18.00% 2002 $38 19.00% 2001 $32 68% 1999 $19 N/A
*Note: Figures for 2023 and beyond are projections of U.S. gift card sales
(Source: Research & Markets, GlobeNewswire and PrNewswire)
Unused Gift Card Statistics
Gift Card Spillage By Year
The CARD Act prohibits gift card funds from expiring for five years from the date of issuance. The chart above shows the value of unused gift cards that have expired (in billions).
(Source: CEB Tower Group)
Gift Cards Purchase Statistics
Gift Card Sales by Merchant Type
Note: The sum of the % totals may be greater than 100% because the respondents were allowed to select more than one answer
(Source: NRF, 2023 Consumer Holiday Survey)
Likelihood of Consumers Purchasing a Gift Card
Gift Card Sales by Occasion
Note: The sum of the % totals may be greater than 100% because the respondents were allowed to select more than one answer
(Source: Giftcards.com,2018)
Number of Gift Cards Consumers Expect to Purchase
Number of Gift Cards
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
1 Gift Card 16.9% 14.6% 13.0% 13.8% 13.7% 14.8% 14.2% 13.5% 12.3% 13.0% 2 Gift Cards 28.6% 26.7% 27.2% 28.7% 27.8% 27.8% 28.6% 27.3% 27.4% 26.2% 3 Gift Cards 19.0% 19.6% 20.2% 18.6% 18.9% 20.1% 18.8% 20.1% 19.4% 19.8% 4 Gift Cards 13.4% 14.0% 13.8% 14.1% 14.6% 14.0% 14.8% 13.7% 13.8% 13.7% 5 Gift Cards 6.7% 7.7% 9.2% 7.6% 8.2% 7.2% 8.1% 7.7% 8.1% 8.4% 6 or More Gift Cards 15.4% 17.5% 16.5% 17.1% 16.7% 16.0% 15.5% 17.7% 18.9% 19.0% Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Average Number of Gift Cards 3.4 3.6 3.6 3.6 3.6 3.5 3.5 3.6 3.7 3.7
Types of Gift Cards Consumers Expect to Purchase
Gift Card (by Merchant Type)*
2022
2021
2020
2019
2018
2015
2014
2013
2012
2011
2010
2009
Catalog 7.00% 5.00% 6.00% 7.00% N/A 3.00% 3.40% 4.60% 4.20% 3.30% 3.20% 2.70% Clothing/Accessories Store 31.00% 30.00% 30.00% 34.00% 34.00% N/A N/A N/A N/A N/A N/A N/A Craft Store 17.00% 16.00% 16.00% 17.00% 17.00% 4.20% 4.30% 4.90% 4.80% 3.70% 3.80% 2.70% Department Store 47.00% 47.00% 45.00% 53.00% 55.00% 34.40% 37.70% 40.30% 39.10% 38.70% 39.20% 38.40% Discount Store 48.00% 44.00% 43.00% 51.00% 51.00% 10.60% 11.70% 14.50% 14.20% 13.00% 14.70% 16.30% Drug Store 12.00% 12.00% 13.00% 14.00% 14.00% N/A N/A N/A N/A N/A N/A N/A Electronics Store 20.00% 20.00% 21.00% 23.00% 24.00% 15.80% 18.90% 20.10% 19.30% 19.80% 19.00% 18.80% Grocery Store/Gasoline N/A 43.00% 42.00% 44.00% 44.00% 11.40% 12.20% 13.80% 12.60% 11.90% 10.80% 10.60% Local/Small Business 24.00% 24.00% 23.00% 23.00% 23.00% N/A N/A N/A N/A N/A N/A N/A Online Merchant 56.00% 57.00% 60.00% 56.00% 55.00% 13.60% 11.80% 12.70% 11.20% 8.90% 6.30% 5.30% Thrift Store 12.00% 9.00% 8.00% 10.00% N/A N/A N/A N/A N/A N/A N/A N/A Other Speciality Store 12.00% 11.00% N/A N/A 13.00% N/A N/A N/A N/A N/A N/A N/A Outlets 11.00% 10.00% 8.00% 9.00% N/A N/A N/A N/A N/A N/A N/A N/A Other 3.00% 4.00% 4.00% 4.00% N/A 3.80% 4.40% 3.90% 3.40% 4.00% 4.60% 4.70%
Note: The sum of the % totals may be greater than 100% because the respondents were allowed to select more than one answer
(Source: National Retail Federation)
Holiday Gift Card Trends
Amount of Money Consumers Expect to Spend on Gift Cards
Year
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
$20 or less 4.8% 5.3% 6.0% 6.5% 5.7% 6.7% 6.8% 6.8% 5.7% 7.5% $21 to $50 21.4% 17.3% 18.1% 18.2% 18.9% 19.8% 20.9% 18.8% 18.5% 19.4% $51 to $75 10.9% 9.7% 10.1% 10.2% 11.1% 11.1% 11.9% 11.2% 11.2% 11.4% $76 to $100 17.2% 17.3% 17.6% 18.2% 18.3% 18.5% 17.8% 19.1% 17.8% 17.5% $101 to $150 13.4% 13.4% 13.2% 13.2% 13.0% 13.8% 13.3% 13.5% 13.6% 13.4% $151 to $200 11.2% 11.5% 11.5% 11.9% 11.4% 10.8% 11.0% 10.7% 12.0% 11.0% $201 to $300 9.1% 10.0% 10.1% 8.8% 9.4% 8.3% 8.5% 8.9% 9.2% 9.1% $301 to $400 4.2% 5.3% 4.4% 4.5% 4.5% 4.3% 3.6% 3.9% 4.0% 3.5% $401 to $500 3.1% 3.8% 3.6% 3.4% 3.0% 2.7% 2.4% 3.0% 2.9% 2.7% $500 or more 4.7% 6.3% 5.4% 4.9% 4.8% 4.1% 3.7% 4.1% 5.1% 4.3% TOTAL 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% AVERAGE $153.08 $172.74 $163.16 $156.86 $155.43 $145.61 $139.91 $147.33 $156.24 $146.20 AVERAGE PER CARD $44.83 $47.87 $45.16 $43.75 $43.23 $41.48 $39.80 $40.54 $41.95 $39.16 TOTAL SPENT (IN BILLIONS) $25.97 $31.74 $29.80 $28.79 $27.80 $24.78 $23.63 $24.92 $26.25 $24.81
Monthly Gift Card Search Volume by Major Retailer
Retailer
Search Volume
Amazon gift card 269,000 Walmart gift card 110,000 Target gift card 96,900 iTunes gift card 85,000 Apple gift card 79,400 Home Depot gift card 338,00 Costco gift card 30,400 Best Buy gift card 24,900 Lowes gift card 24,700 Kroger gift card 18,600 Macys gift card 17,700 Nordstrom gift card 17,400 Giant eagle gift card 13,700 TJ Maxx gift card 13,600 Kohls gift card 12,800 Walgreens gift card 12,500 CVS gift card 12,500 Publix gift card 10,700 Aldi gift card 7,600 Wayfair gift card 7,200
(Source: DealDrop, Gift Card Statistics 2021)
Factors Affecting Gift Card Purchases
Factors Likely to Influence Consumers to Buy
Influencing Factor
2015
2014
2013
2012
2011
2010
Gift cards are easier and faster to buy than traditional gifts 24.7% 25.6% 22.6% 21.1% 19.4% 19.4% Gift cards allow the recipient to select their own gift 50.4% 51.8% 43.1% 44.7% 46.4% 46.4% Giving gift cards helps me stick to my holiday budget 5.2% 3.8% 5.7% 4.7% 4.8% 4.8% The gift recipient does not have to worry about returning merchandise 5.6% 5.0% 6.0% 6.6% 6.0% 6.0% It is easier to mail/ship a gift than a traditional gift to out-of-town gift recipients 5.6% 6.0% 6.3% 5.8% 6.2% 6.2% Incentives for buying gift cards (e.g. free additional gift card for myself, discounts on fuel, etc.) 4.4% 4.0% 4.9% 4.8% 5.5% 5.5% None of the above 4.1% 3.8% 11.3% 12.3% 11.7% 11.7% Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Factors Likely to Influence Consumers NOT to Buy
Influencing Factor
2013
2012
2011
2010
Gift cards seem impersonal 25.3% 24.1% 26.1% 24.1% Concern that the card would expire or have added fees 16.3% 15.8% 17.4% 18.9% Rather buy items on sale and give traditional gifts to stretch the dollar further 9.7% 8.9% 9.1% 8.9% Worried the recipient will lose it or never spend it 6.6% 6.4% 5.9% 5.9% Concerned that the retailer will go out of business 2.1% 2.2% 2.9% 3.2% Not sure which company a person would want a card from 9.4% 9.3% 9.7% 9.5% None of the above 30.6% 33.3% 28.8% 29.6% Total 100.0% 100.0% 100.0% 100.0%
(Sources: Bain & Company, First Data, National Retail Federation, Tower Group, Venture Beat)
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