Gift cards have begun the full-blown transition into the electronic age. And this past holiday shopping season proved that point again and again.
Based on the findings presented in the 2012 U.S. Prepaid Consumer Insights Study, which was conducted by First Data and Market Strategies International, gift cards have never been more popular. In fact, a staggering 93% of consumers would prefer to receive a $25 gift card than a physical present of comparable value.
Consumers, mobile experts say, like the power of choice that comes with a gift card. It’s the next best thing to cash. But when it comes to gift cards, the new electronic trend of eGift card giving may be the hottest gift of all in Christmases to come.
Despite having been virtually non-existent just a few short years ago, this holiday season, 21% of survey respondents bought at least one eGift card. And some believe that percentage will grow substantially – if not double – buy Christmas 2014.
Below is an infographic that was published along with the new study.