NRF: Gift cards to top holiday lists

WASHINGTON Gift cards are expected to be a popular holiday gift this year. According to the fifth annual National Retail Federation Gift Card Survey, conducted by BIGresearch, gift card sales will total $26.3 billion this holiday season, compared to $24.8 billion in 2006.

NRF found that 56.6% of consumers surveyed said they plan to buy a gift card compared to other top selling gift items like clothing, toys and books, 8.7% said they will purchase two or more. Additionally, the average consumer will spend more on gift cards than they did last year ($122.59 vs. $116.51 in 2006). 

“It is no secret why gift cards are the most popular item on consumers’ shopping lists," said NRF President and CEO Tracy Mullin.  “Many consumers pulled back on spending for themselves this year and are hoping to receive a gift card so they can purchase something they may have had their eye on for months.”