How to redeem gift cards online for $150 gift cards
The US gift card industry is growing rapidly and is now worth over $1.3 trillion, according to a recent report.
But this year is likely to be the year when we start to see a spike in sales and spending on gift cards.
Gift cards are currently the third most popular gift card type among US consumers behind only gift cards and debit cards, according an analysis by financial news site Money Magazine.
While there are plenty of other ways to spend these cards, a big one is to spend them on gift card purchases at Target, Amazon, Wal-Mart, and Walmart, among other retailers.
The majority of gift card sales go to the top 5% of the cardholder base, and the average purchase is $35.49, according the study.
Gift card holders are also the largest consumers of gift cards in the US.
The average gift card holder spends more than $1,300 a year, according Money Magazine, and gift card holders also spend $839,000 annually on gift vouchers.
But the data released by the National Retail Federation (NRF), a trade group for the retail industry, shows that the average American gift card has a lower average purchase price ($33) than it did in 2013.
That said, gift card spend is up almost 10% from 2014.
The NRF found that, overall, gift cards account for $7 billion in spending.
Gifts are now also the biggest spenders for the entire US, with the average gift spent more than the average retail purchase.
The NRf said that, of the $1 trillion spent on gift spending in 2014, about $1 billion was spent on cards, gifts, and merchandise.
With more Americans buying gift cards this year, there is a chance that a lot more spending will occur on the gift card side.GIFT CARD STORIES