Implications: During the great recession, many companies reported a decline in gift card sales, presumably because consumers could buy what seemed like more for the money, when choosing apparel, appliances or home electronics that “seemed like more” than the face value of a similarly-priced card.
This year, however, it seems the utilitarian value of gift cards—letting people choose their own gift and then assuredly get something they really want or need—has come to the forefront of consideration.
Are your gift card sales up? It might be a good time to give them a higher profile as we approach the end of the holiday season, and people start grasping for great last-minute ideas.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
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