June 14, 2022 – Few financial services products are as iconic or prominent in the mindset of the American consumer as gift cards. Relatively new and a byproduct of the 1990s, most Americans have received, purchased, or used gift cards in some shape or form. But a rapidly evolving American consumer and shifting America is pressuring change. Gift card providers must adapt to this new consumer and contend with e-commerce, digitalization, and a pandemic or risk being left behind, like the gift certificate.
This Impact Report summarizes the U.S. gift card market, including an analysis of the socioeconomic and demographic factors that influence gift card purchasing and gifting decisions, consumer experiences, and adoption trends. It is based on an Aite-Novarica Group online survey of 7,923 U.S. consumers in June 2021.
This 42-page Impact Report contains 26 figures and three tables. Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.
This report mentions Fiserv.