New York – More than half of Americans (53%) prefer general purpose gift cards as opposed to branded gift cards. In addition, new survey data from Bankrate.com shows that almost two in three Americans have given a gift card, and more than three in four have received one.
The most common value of gift cards, both given and received, is between $25 and $50. People older than 65 and those between 18 and 29 years old are the least likely to give a gift card. As income level increases, Americans are more likely to give and receive gift cards.
Other findings include:
- 53% of the gift cards that Bankrate.com surveyed can be reloaded, up slightly from 51% last year.
- 56% can be delivered electronically, in line with each of the past two years.
- 69% of gift card issuers will replace the card and/or funds in the event of loss or theft.