Kasia Davies
Research expert covering global shopping behavior market
Gift cards in the United States - statistics & facts
At times, it can be difficult to come up with an adequate present to give to another person, no matter whether it is Mother’s Day or Christmas. As a result, it is not surprising just how popular gift cards have become especially in the United States where sales have reached an all-time high. Gift cards allow the gift recipient to decide what he or she wants to buy, which takes out the guesswork for the person looking for gifts. In 2023, about 50 percent of consumers in the United States said they planned to buy gift cards due to how convenient they are, making it the leading reason why American shoppers purchase them.
A feeling many can relate to is receiving a gift card and forgetting to use it. Of course, to retailers it does not matter whether consumers spend the money on their gift cards or not, but it is a loss for consumers. Millennials were the worst offenders with an average of 332 U.S. dollars in unspent gift cards or vouchers. Overall people had roughly 240 U.S. dollars on their gift cards that they were yet to spend.
It's clear that gift cards are here to stay with many consumers both wanting to receive them as a gift as well as finding them a convenient option when giving a present to someone else. However, the amount of money lost due to gift card fraud has been significantly higher in recent years and so retailers must come up with ways to stop money being stolen from gift cards before they are even purchased.
Spending on gift cards and the unspent gift cards
How much the average U.S. consumer spends on gift cards can depend on a number of factors including age, gender, and the season. During the holidays, for instance, Americans typically spend a lot: according to a survey, millennials shoppers planned to spend over 450 U.S. dollars on gift cards during the holiday season, while Gen Z and baby boomers intended to spend noticeably less.A feeling many can relate to is receiving a gift card and forgetting to use it. Of course, to retailers it does not matter whether consumers spend the money on their gift cards or not, but it is a loss for consumers. Millennials were the worst offenders with an average of 332 U.S. dollars in unspent gift cards or vouchers. Overall people had roughly 240 U.S. dollars on their gift cards that they were yet to spend.
How are people using their gift cards?
In 2024, gift cards were one of the most popular gifts that shoppers were planning to buy second only to clothing and accessories. Perhaps surprisingly, many people did not spend their gift on a present for themselves but instead on essentials such as groceries and gas. This is perhaps a reflection of the economic hardship that many people are facing and a reflection of the worldwide fear of inflation and rising prices. However, other categories where people planned to use their gift cards included clothing and jewelry, experiences and electronic goods.It's clear that gift cards are here to stay with many consumers both wanting to receive them as a gift as well as finding them a convenient option when giving a present to someone else. However, the amount of money lost due to gift card fraud has been significantly higher in recent years and so retailers must come up with ways to stop money being stolen from gift cards before they are even purchased.
