Wednesday, October 1, 2008

Gift Card Sales are Expected to Drop During the Holiday Season

This post on the ePaymentsnews Network mentions that because of the current economic situation across the US, consumers will spend less money (about USD 25 billion) on gift cards.

Instead, consumers will spend money on necessities such as gas, dining, and groceries. Restaurants and fast food chains are expected to sell the most gift cards this holiday season. Teenagers and post-college consumers are expected to give gift card purchases a boost since many gift card retailers offer coupons and discounts for the purchaser.

The study information is provided Archstone Consulting.

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