THIS HOLIDAY SEASON, CONSUMERS SAY 'GIVE THE GIFT OF CHOICE' ACCORDING TO AMERICAN EXPRESS GIFT CARD SURVEY
Survey Finds Clear Preference for Recipient to Choose Type of Gift and Merchant
NEW YORK, November 11, 2004 -- When considering what to give this holiday season, does the desire to just let recipients choose what they most want pop into mind? If so, you're not alone.
According to the American Express Gift Card Survey released today, 83% of Americans purchasing gift cards this holiday season are doing so to give the gift of choice – allowing “the recipient to get what he or she wants.”
Consumers also buy gift cards because they are “practical, easy, convenient, or save time” (68%), “more appropriate than cash” (58%), “purchased for difficult-to-please people” (51%), are a “long distance gift” (32%) or a “last minute gift” (27%). More than one in five (22%) says that gift cards this season are a “request from the recipient.”
Among those purchasing holiday gifts, more than half (55%) plan to give gift cards, gift certificates or gift Cheques, just behind the three most popular gift items, clothing (66%), toys/games (60%) and music, tapes, CDs or DVDs (58%). More than two in five plan to give cash (42%).
“Gift Cards take the guesswork out of giving this holiday season and let the recipient get the gifts they want the most,” said Valerie Soranno Keating, President, American Express Global Travelers Cheques and Prepaid Services Group. “Americans clearly view gift cards as an appropriate gift for everyone on their list and a stress free alternative to shopping. You can't go wrong by giving someone an American Express Gift Card.”
Who should expect to receive gift cards this season? Americans think they are most appropriate for extended family, including stepfamily and cousins (32%), followed by grown children (20%). The survey also finds, however, that Americans see gift cards as appropriate for all family members -- brothers (17%), sisters (15%), mothers (16%), and fathers (14%). One in ten Americans says they plan to give the gift cards to teens. Interestingly, double the number of men (8% compared to 4% women) plan to give gift cards to their spouse.
In terms of the type of gift card, a majority (67%) say they want to give one that allows the “recipient to go to many different places to buy what they want including retailers and restaurants.” When asked what type of gift card they would most prefer to receive, 59% said they prefer a “universal gift card that can be used anywhere,” compared to 37% who said they preferred a “card that is accepted at a particular store.”
The majority of respondents agree that gift cards are a “cool gift because people like to choose what they most want” (59%), or are “more personal than giving cash” (45%).
The American Express survey also found that the season for purchasing gift cards is now. While 69% plan to purchase them now through December, one in four (26%) says they will purchase them last minute, either the week before or the night before the holiday. One in five (21%) plans to browse for or purchase gift cards on Black Friday and the Thanksgiving weekend.
The majority of respondents say that if they were to receive a gift card, they would redeem it within the year (83%).
The American Express Gift Card can be redeemed at U.S. retailers and restaurants that accept the American Express® Card and is an ideal solution for the upcoming holiday season – unlike store gift cards, instead of one place, the American Express Gift Card is good over the place. The Gift Card is available in denominations ranging from $25 to $500 and is replaceable if lost or stolen for a fee.* American Express Gift Cards are available online at www.americanexpress.com/gift, by phone at 1-877-AXP-GIFT and through a number of banks, malls, supermarkets and drugstores. For a complete list of participating locations visit www.americanexpress.com/giftcard.
About American Express
American Express Company is a diversified worldwide travel, network, and financial services provider founded in 1850. It is a leader in charge and credit cards, travel, financial planning, investment products, insurance and international banking.
American Express is a leader in prepaid products. In addition to the 113-year old American Express Travelers Cheque - the preeminent brand welcomed worldwide - the Company also offers the TravelFunds® Card, Cheques for Two, Gift Cards, Gift Cheques, the Be My Guest dining card, as well as a range of corporate incentive prepaid products through American Express Incentive Services.
*Terms and Conditions Apply
Contacts:
Stephanie Stegich
212.640.6221
Stephanie.A.Stegich@aexp.com