Why consumers and <b>retailers</b> alike love gift cards | RetailTechPodcast

Why consumers and retailers alike love gift cards

Impersonal as they may be, for the 12th year in a row, gift cards are the most popular item on holiday wish lists. According to the National Retail Federation, 60 percent of us asked for gift cards this holiday season. Consumers like gift cards because they're easy to give. Aside from avoiding the ick factor, gift cards can be more freeing than cash. "Gift cards are different because somebody else has made the decision that we're going to spend it on our own pleasure." For stores, what matters is that the card is actually used. "They don't get to record any gift card revenue as revenue until a consumer actually purchases a product with that," said Sucharita Kodali, a retail analyst at Forrester. Read more