Report: Millennials find a new use for retail-specific gift cards
A majority of millennials are purchasing gift cards, but not for the obvious reasons.
According to a new report from analyst firm Mercator Advisory Group, nearly three-in-five young adults said they bought refillable retailer-specific gift cards during the previous year, up from less than half of shoppers who reported making these purchases in the 2015 study. The biggest jump was among 18- to 24-year-olds, which climbed from 44% to 53%; followed by those aged 25 to 34, which increased from 48% to 57%.