WASHINGTON Restaurateurs counting on a big holiday sales boost from the merchandising of gift cards might be in for some disappointment this season, according to a study by the National Retail Federation.
While gift cards are expected to remain popular with shoppers, the NRF’s 2009 Holiday Consumer Intentions and Actions Survey anticipates that Americans will trim their card purchases again this year.
The survey predicts that the average consumer will spend $139.91 on gift cards this season, down about 5 percent from last year’s figure of $147.33. The survey also said consumers plan to give cards with a lower monetary value this year. Whereas the average value per card was $40.54 in 2008, that figure is expected to slip to $39.80 in 2009.
Restaurant gift cards will remain popular with consumers this year, the survey said. While 38.4 percent of those polled said they intend to give at least one card from a department store this season, restaurant gift cards were the second-most popular, with 33.4 percent of shoppers planning to give them.
Also popular with shoppers were gift cards to bookstores, 24.4 percent; electronic stores, 18.8 percent; and discount stores, 16.3 percent, the survey found.
In addition, 22.1 percent of those polled said they plan to give a gift card issued by a credit card or bank, which can be redeemed at various places.
The NRF said gift card spending is expected to total $23.63 billion, and 77.2 percent of shoppers intend to purchase at least one card this holiday season.
According to a previous NRF survey, 22.1 percent of consumers say the chief reason they are not buying cards is that they feel they are too impersonal, while 12.6 percent said they are concerned about expiration dates or fees. Others said they are worried that the recipient will lose the card or never use it, 5.3 percent, or that the company will go out of business, 5.6 percent.
The NRF 2009 Holiday Consumer Intentions and Actions Survey was conducted by BIGresearch from Nov. 3-10, and polled 8,692 consumers.
Contact Paul Frumkin at [email protected].
