PLEASANTON, Calif., Jan. 21, 2021 /PRNewswire/ — As retailers think about find out how to construct on the digital momentum in 2020, a brand new vacation spending report1 reveals a greater than 80% enhance in digital present card (eGift) gross sales and an almost 40% enhance in total eCommerce present card gross sales throughout the vacation season. The Blackhawk Network BrandedPay™ Submit-Vacation spending report primarily based on client analysis and Blackhawk’s personal U.S. gross sales information discovered client spending exceeded vacation projections from the group’s earlier BrandedPay™ Holiday Shopping Preview2 for each eCommerce and digital gifting, a development that’s poised to proceed. The report’s findings come as present playing cards look to supply a wanted increase for retailers to kick off the brand new 12 months.
“Manufacturers that optimized their eGift and present card eCommerce expertise received this vacation season. As client habits continued the speedy, digital migration, present card applications aren’t any exception. This can be a big win for retailers, as present card recipients present up prepared and excited to make use of them,” mentioned Theresa McEndree, world head of promoting and company model, Blackhawk Community. “Digital adoption will proceed and is right here to remain. This stream of digital consumers will profit retail gross sales within the first quarter of the 12 months. Practically half of shoppers surveyed anticipate to spend a minimum of $25 greater than the worth of their present playing cards—and lots of plan to spend them throughout the first few months following the vacation season.”
The highest findings and developments recognized within the report embrace:
eCommerce and digital present card gross sales surged
Customers surveyed reported doing 68% of their vacation procuring on-line on common, which is even increased than the anticipated 60% surveyed shoppers reported earlier than the vacation season. Following that development, eCommerce present card gross sales development beat pre-holiday projections and greater than doubled the 12% development seen in 2019. eCommerce present card gross sales forward of the 2020 vacation season have been trending at a 21% enhance over 2019 and jumped to just about 40% development throughout the vacation season.
- Vacation eGift gross sales continued monumental year-long development. Gross sales information from Blackhawk Community reveals eGifts gross sales have been up over 80% as in comparison with 2019, surpassing the 74% development gross sales have been hovering at earlier than the vacation season.
A lift in vacation digital funds adoption appears to be like right here to remain
A whopping 41% of shoppers surveyed mentioned the cost strategies they used to buy presents in 2020 have been completely different from these they’ve utilized in earlier years. Practically 1-in-4 consumers surveyed reported procuring utilizing a cell pockets for the primary time throughout the 2020 vacation season, and it appears to be like like utilization will stick. Of these surveyed, 37% report that they’re more likely to completely undertake the brand new cost strategies they used to buy this 12 months.
Vacation present playing cards might present a lift for retailers in first quarter of 2021
Half of surveyed shoppers report they plan to make use of their present playing cards inside a month after the vacation, one other 23% say they may use their present playing cards within the subsequent 3–6 months, and the common denomination for present playing cards bought this vacation season was about $45. That is excellent news for U.S. retailers as 6-in-10 surveyed consumers additionally report that they plan to spend greater than the worth of their present card.
Blackhawk Community works with greater than 1,000 manufacturers and card companions and is in additional than 200,000 retail places. Blackhawk Community connects with greater than 300 million consumers worldwide every week. Go to www.blackhawknetwork.com for extra client insights and in-depth evaluation.
About Blackhawk Community
Blackhawk Community delivers branded cost options by the pay as you go merchandise, applied sciences and community that join manufacturers and folks. We collaborate with our companions to innovate, translating market developments in branded funds to extend attain, loyalty and income. Serving 28 international locations, we reliably execute security-minded options worldwide. Be a part of us as we form the way forward for world branded funds. Study extra at blackhawknetwork.com.
1 The “2020 BrandedPay™ Submit-Vacation Procuring” report is predicated on the findings of an internet-based survey carried out by Survey Monkey on behalf of Blackhawk Community between December 27–29, 2020. The pattern measurement included mover 2,000 respondents ages 18+. Present card development findings are primarily based on 2019 and 2020 gross sales information from Blackhawk Community from over 50,000 service provider places throughout the U.S.
2 The “2020 BrandedPay™ Vacation Procuring Preview” report is predicated on the findings of an internet-based survey carried out by Leger on behalf of Blackhawk Community between August 24–31, 2020. The pattern measurement included 1,500 respondents. Present card class findings are primarily based on 2018–2020 gross sales information from Blackhawk Community from over 50,000 service provider places throughout the U.S.
SOURCE Blackhawk Community
— to www.prnewswire.com