June 05, 2017
While gift cards are known to be popular go-to options as consumer gifts for holidays, new research sees them as a particularly in-demand gift for other events and occasions, including graduations, anniversaries, and as a thank you. The new research, from prepaid product and transaction services company InComm, draw on the responses of 520 U.S. shoppers on their attitudes toward giving gift cards. 

While all respondents gave at least one gift card in the previous year, 92 percent gave two or more, while a majority (54 percent) gave five or more. 

The most popular occasion on which to give a gift card was on a person's birthday, followed by graduation, wedding, thank you, and shower. The largest proportion of respondents (82 percent) said they would appreciate receiving a gift card on their birthday. This was followed by the 42 percent who said they would appreciate a gift card as a thank you, 39 percent who said they would like one for graduation, 37 percent who said the same about receiving a gift card for a wedding, and 34 percent for an anniversary.

"The versatility of gift cards benefits both the giver and the recipient. They are quick and convenient gifts that, as this data suggests, are appropriate for any number of occasions, alleviating much of the stress that can come with gift shopping," said Brian Parlotto, sales and marketing executive vice president at InComm, in a statement. "With closed-loop options, which are accepted only in certain stores, and open-loop options like Vanilla Gift, which are accepted anywhere, the giver can personalize the gift and the friend or loved one who receives the gift card will be sure to get something they want."

Additionally, younger consumers are finding even more occasions in which to give a gift card. Millennial respondents (between the ages of 25 and 34) noted they often give gift cards when a friend or loved one has a new baby (50 percent) and when a new home is purchased (29 percent).

The full infographic can be found on InComm's blog.