Three out of four consumers surveyed plan on giving at least one gift card this upcoming holiday season
The December 2021 Gift Card Gauge from Fiserv found that 54% of consumers are planning to spend more on holiday experiences than last year. However, supply chain concerns are casting a shadow on holiday cheer, with 55% concerned about supply chain crunch.
Conducted in late November 2021, the Fiserv study also identified key consumer trends as the holiday hustle and bustle ensues.
Shoppers are recognizing supply chain issues and taking matters into their own hands, as 60% have already started their holiday shopping and 22% reporting they are already done.
Consumers are following the saying “early bird gets the worm”, closely this season to keep supply chain challenges at bay. Of those consumers who already started their holiday shopping, 54% started early to ensure timely delivery of items and 53% stared early to avoid encountering out of stock items.
Some consumers are still dragging their feet, with 68% still figuring out their wish list and 37% waiting for key shopping events like Black Friday and Cyber Monday.
While most consumers are preparing for supply chain slowdowns, they recognize the need to identify alternative gifts this season. Specifically, 70% are most concerned about electronics delays and stock, followed by clothing and accessories (42%) and toys (36%).
As supply chain concerns foster uncertainty, consumers will turn to gift cards for help. According to those surveyed, almost 30% plan on purchasing more gift cards this holiday season due to supply chain disruptions and/or low store inventories. Further, 44% would grab a gift card as a last-minute gift and 33% would purchase a gift card if they were unable to get a particular item this holiday season.
Supply chain slowdowns set merchants up for a big year of gift cards, especially with 75% planning on giving at least one gift card this holiday season. It will also be critical to keep gift cards stocked since 65% of consumers plan on purchasing gift cards in store.
Click here to see more findings from the December 2021 Gift Card Gauge.
Fiserv’s December 2021 Gift Card Gauge is a survey of over 1,000 U.S. consumers aged 18 and older, conducted to help merchants better understand industry trends, and how consumers use gift cards. The margin of error for this Gauge is +/- 3.056%.