This Gift Cards Chart Explains Why They're the Most Coveted Present
Michael Hemsworth — December 9, 2012 — Business
References: visual.ly
Giving the perfect gift is most definitely one of the most satisfying feelings, but this gift cards chart explains why the most coveted gift this holiday season is nothing but a piece of plastic.
2012 is a monumental year for the gift card as by the end of the year, over $110 billion will have been loaded onto them with projections estimating that that figure will rise to over $138 billion by 2015. A peculiar comparison is made for the number of cards in production: if they were put end-to-end, gift cards could go back and forth between earth and the moon 23 times. The large portion of gift card money that was lost in previous years is on a steady decline, but the percentage of fraud is on a steady increase.
2012 is a monumental year for the gift card as by the end of the year, over $110 billion will have been loaded onto them with projections estimating that that figure will rise to over $138 billion by 2015. A peculiar comparison is made for the number of cards in production: if they were put end-to-end, gift cards could go back and forth between earth and the moon 23 times. The large portion of gift card money that was lost in previous years is on a steady decline, but the percentage of fraud is on a steady increase.
Trend Themes
1. Rise of Digital Gift Cards - The increasing convenience of digital gift cards and their ability to reduce fraud presents an opportunity for retailers to expand their online sales channels.
2. Emergence of Personalized Gift Cards - The trend towards personalized gift cards that allow consumers to add their own images or messages creates opportunities for retailers to offer unique gifting experiences.
3. Integration of Gift Cards with Loyalty Programs - Retailers can drive customer engagement and loyalty by incorporating gift cards into their existing loyalty programs.
Industry Implications
1. Retail - Retailers have the opportunity to increase sales and customer engagement by offering digital and personalized gift cards, and integrating them with loyalty programs.
2. E-commerce - The rise of digital gift cards presents an opportunity for e-commerce businesses to expand their product offerings and reduce fraud risk.
3. Financial Services - As the popularity of gift cards continues to grow, financial services companies can develop innovative ways to enhance security and prevent fraud.
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