Time to spend the holiday gift cards

Now that everyone has received their holiday gift cards, what are they going to spend them on? According to a study, done by Archstone Consulting, and detailed here at Manage Smarter, recipients will spend them on necessities, including groceries and gasoline, and small indulgences such as eating out. Spending on gift cards was expected to fall 5%, or $25 billion, in the 2008 holiday season from last year's holiday season.

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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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