Fiserv’s October 2020 Gift Card Gauge survey looks at US consumers’ purchase and use of digital as well as physical gift cards, especially during the pandemic.
The survey found 65% of US consumers are willing to purchase a gift card on Black Friday if a merchant offers an incentive. Around 43% of Americans mostly purchased digital gift cards, while 37% of them mainly bought physical gift cards.
34% of consumers purchased gift cards for online-only retailers, followed by big-box retailers at 20% and coffee shops at 18%. More than half of customers purchased gift cards online, and 12% via mobile apps.
Around 37% of Americans have purchased gift cards from a merchant, who frequented to help/support them during the pandemic. Fiserv’s Dom Morea said consumers are looking for touchless gift options and digital gift cards solve their purpose.
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