Blackhawk Network is a are experts in prepaid payment solutions – both physical and mobile. A new survey they released uncovers new insights about millennials' preferences for giving and receiving gift cards this holiday season. New data shows that gift cards will be high on the list for purchasing by and for millennials this holiday season.
The following data comes from a December 2013 online survey of more than 400 millennials ages 18-28:
With more than 100,000 retail, grocery and other stores offering gift cards, shoppers can buy cards in more locations than ever, which is crucial as millennials want to receive these gift cards more than ever. Talbott Roche, Blackhawk Network President.
Millennials want the gift card to treat themselves
- 89 percent of millennials want gift cards while 73 percent prefer receiving a gift card from a favorite store as opposed to receiving a specific gift
- Millennials use gift cards to treat themselves: 90 percent use gift cards to treat themselves to something they wouldn't normally buy or use it in part to buy a more expensive item
- Millennials don't like returns: 76 percent like receiving gift cards so he/she doesn't have to return a gift
Millennials plan on buying a lot of gift cards for others
- 88 percent expect to give a gift card to someone this year
- 63 percent buy gift cards as a last minute gift
- 73 percent expect to spend between $10-$50 on a gift card for someone
- And some will buy gift cards online – 43 percent said they will buy them online
Millennials use social media to gift
- Social determines their gift list: 46 percent are likely to use social media to determine who to send a gift card to
- They want brands to gift them: 71 percent want a gift card from a brand they follow on Facebook
- They want to give via social: 51 percent are interested in sending egift cards through social media
Blackhawk Network utilizes proprietary technology to provide consumers a wide selection of gift cards, prepaid telecom handsets, airtime cards and general purpose reloadable cards across a global network totaling over 100,000 stores. Through Blackhawk's digital platform, the company supports prepaid products and offers across a growing network of digital distribution partners including leading etailers, financial service providers, social apps, mobile wallets and other integrated physical-to-digital channels.