InComm Payments’ 2024 Holiday Report found that gift card shoppers were planning purchases carefully while retaining demand for several card formats. The report, published on November 20, draws on a September 2024 survey of 2,510 U.S. consumers about their intended holiday shopping.

Economic conditions were a consideration for 58% of respondents, although more than half expected to spend the same amount on gifts as in the previous year. Their proposed responses included looking harder for lower prices, buying for fewer people, reducing the number of gifts and spreading purchases across paychecks.

Planned purchases across gift card types

Nearly 79% of holiday gift card purchases were expected to be planned in advance, and about 13% of gift card shoppers anticipated buying higher denominations than in 2023. The survey describes intentions for the 2024 season.

Among holiday gift card shoppers, 54% anticipated purchasing a closed-loop card for a particular brand or brand group, 47% expected to buy an open-loop card such as Visa, Mastercard or American Express, and 35% planned to buy a multi-brand card. InComm also reported that 81% anticipated buying between

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