This Gift Cards Chart Explains Why They're the Most Coveted Present
Michael Hemsworth — December 9, 2012 — Business
References: visual.ly
Giving the perfect gift is most definitely one of the most satisfying feelings, but this gift cards chart explains why the most coveted gift this holiday season is nothing but a piece of plastic.
2012 is a monumental year for the gift card as by the end of the year, over $110 billion will have been loaded onto them with projections estimating that that figure will rise to over $138 billion by 2015. A peculiar comparison is made for the number of cards in production: if they were put end-to-end, gift cards could go back and forth between earth and the moon 23 times. The large portion of gift card money that was lost in previous years is on a steady decline, but the percentage of fraud is on a steady increase.
2012 is a monumental year for the gift card as by the end of the year, over $110 billion will have been loaded onto them with projections estimating that that figure will rise to over $138 billion by 2015. A peculiar comparison is made for the number of cards in production: if they were put end-to-end, gift cards could go back and forth between earth and the moon 23 times. The large portion of gift card money that was lost in previous years is on a steady decline, but the percentage of fraud is on a steady increase.
Trend Themes
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Rise of Digital Gift Cards — The increasing convenience of digital gift cards and their ability to reduce fraud presents an opportunity for retailers to expand their online sales channels.
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Emergence of Personalized Gift Cards — The trend towards personalized gift cards that allow consumers to add their own images or messages creates opportunities for retailers to offer unique gifting experiences.
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Integration of Gift Cards with Loyalty Programs — Retailers can drive customer engagement and loyalty by incorporating gift cards into their existing loyalty programs.
Industry Implications
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Retail — Retailers have the opportunity to increase sales and customer engagement by offering digital and personalized gift cards, and integrating them with loyalty programs.
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E-commerce — The rise of digital gift cards presents an opportunity for e-commerce businesses to expand their product offerings and reduce fraud risk.
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Financial Services — As the popularity of gift cards continues to grow, financial services companies can develop innovative ways to enhance security and prevent fraud.
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