November 26, 2004 12:44 PM
More Are Saying It With Plastic: Gift Cards The Holiday Present Of Choice
Excerpt: For the first time, gift cards are expected to replace apparel as the gift of choice for the holidays, according to the Deloitte & Touche 19th annual consumer survey, which tracks holiday spending plans and trends.
Sweaters? So five minutes ago.
Gloves? Passé.
What to give? Try cold, hard plastic.
For the first time, gift cards are expected to replace apparel as the gift of choice for the holidays, according to the Deloitte & Touche 19th annual consumer survey, which tracks holiday spending plans and trends.
Roughly 64 percent of consumers surveyed said they plan to buy gift cards. That's up from 60 percent the year before and double the rate of consumers that plan to give greenbacks.
What gives?
Tara Weiner, Deloitte & Touche's national managing partner for consumer-business industries, points to the number of gift cards now available at the Safeway checkout stand — from upscale retailer Nordstrom to Borders Books & Music.
"That's testimony," Weiner said. "People are just out of time."
The gift-card market has surged in recent years — it's the only retail segment this holiday season that's expected to see double-digit growth. Not only are more retailers offering gift cards, they're using them as a fashion statement.
Target, for instance, offers a Mr. Sandman gift card that shows a snowman made of sand, holding a surf board. Another card featured tangled Christmas lights.
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