Most Americans will buy a gift card on Black Friday if they get incentives: Study

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 27, 2020, 2:12 PM UTC

Fiserv’s October 2020 Gift Card Gauge survey looks at US consumers’ purchase and use of digital as well as physical gift cards, especially during the pandemic.

The survey found 65% of US consumers are willing to purchase a gift card on Black Friday if a merchant offers an incentive. Around 43% of Americans mostly purchased digital gift cards, while 37% of them mainly bought physical gift cards.

34% of consumers purchased gift cards for online-only retailers, followed by big-box retailers at 20% and coffee shops at 18%. More than half of customers purchased gift cards online, and 12% via mobile apps.

Around 37% of Americans have purchased gift cards from a merchant, who frequented to help/support them during the pandemic. Fiserv’s Dom Morea said consumers are looking for touchless gift options and digital gift cards solve their purpose.

Read the original article

[3 minute read]