Which gift cards are you going to get this year?
A new survey by the Consumer Reports® brand agency reveals that people are buying more gift cards this year than ever before.
The survey, released Tuesday, revealed that people were spending more on the popular cards from Walmart, Target and Target Plus.
The study, which asked consumers whether they’d buy or rent a gift card, revealed 76% of people were buying a gift cards for their spouse, boyfriend, girlfriend, mother or father, compared to 68% last year.
Another 20% said they were buying gift cards from friends or family members.
“This is an exciting time to be a consumer,” said Richard B. Smith, president and chief executive officer of Consumer Reports.
“The cost of spending is low and the value of gift cards is strong.
The best way to save is to get gift cards.”
Among the most popular gift cards were Target’s $75 gift card for a $50 purchase, Walmart’s $25 gift card and Target’s “I love you” card, with 73% of shoppers picking one.
The top three gifts from Costco were the $25 Costco gift card with 66% of consumers picking one, and the $75 Costco gift with 64%.