Virtual Incentives has highlighted findings from Bankrate’s late-2014 gift card survey showing wider digital availability. In a March 4, 2015 commentary, the company reports that 59% of the 62 cards surveyed had a digital version, compared with 54% in 2013.
The commentary also cites consumer responses: 14% of millennials polled had given or used a mobile gift card, compared with 7% among people aged 30 to 49. Those figures describe the groups and period in the earlier survey.
Separately, it reports CEB estimates of more than $124 billion in total gift card sales in 2014, up 5% from the prior year. Estimated electronic gift card sales rose from $5 billion in 2013 to $6 billion in 2014.
At the time, CEB forecast that electronic gift card sales could reach roughly $17 billion by 2017. That was a forward-looking estimate cited in 2015, not an observed result for 2017.
The article refers to CEB TowerGroup research director Brian Riley’s view that a maturing gift card market could still benefit from digital innovation. Virtual Incentives connected those findings with customizable electronic rewards and simpler delivery; it was commenting on external research rather than publishing a new study of its own.
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- Study: Popularity surges for egift cards — virtualincentives.com