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Report: Gift card sales in 2013 to top $118 billion
Arlington, Va. -- Sales of gift cards in 2013 are expected to surpass $118 billion in sales, an 8% increase from 2012. CEB Tower Report research suggests that the widespread adoption of e-gifting, which experienced rapid growth from $300 million in 2012 to a predicted $3 billion in 2013, will provide scale for continued industry gains through 2016.
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Retailers may have happy holiday after all
More Americans now say they are loosening the purse strings in advance of the holiday season, and fewer say they are tightening their belts, according to a recent Citi national survey.
Only 35% said they would be spending less than last year, reflecting the lowest level of holiday budget cutbacks since the financial crisis. As many as 63% of Americans plan to spend more (11%) or the same (52%) on holiday shopping this year.