Convenience Store News reports that the sale of private label store cards is expected to fall for the second straight year, while general-purpose gift card sales are expected to increase slightly, according to TowerGroup. Consumers are expected to exhibit more practical usage in each gift card category. For example, fast food will perform better than white linen dining, and discounters will perform better than high-end specialty stores. Niche players, such as local stores, will experience the largest negative impact.
What other factors are keeping consumers from private label store cards? Could the 2010 credit legislation be to blame?
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