New Study on Digital Gift Cards Tracks Consumer Attitudes, Provides Guidance For Retailers to Increase Adoption

Millennials Category Lead the Charge in This New Category - 29% Have Purchased or Received a Digital Gift Card

24 Nov, 2015, 10:15 ET from Stored Value Solutions

LOUISVILLE, Ky., Nov. 24, 2015 /PRNewswire/ -- A consumer report released today by Stored Value Solutions (SVS), a global provider of gift cards and stored value services, focuses on consumer acceptance of mobile and digital gift cards. The study, "Digital Gift Card Consumer Sentiment Study" found that while physical gift card purchases and receipts are still preferred over digital, awareness and actual use of digital gift cards are growing. The research suggests that adoption can be accelerated by helping users, both givers and receivers, get comfortable with the form factor.  The study provides guidance for retailers to enhance adoption.

Results indicated that one in three males prefer to buy digital cards, and nearly 40 percent of consumers aged 18 to 35 expressed a preference for them.  64 percent of consumers surveyed had not yet bought or received a digital or mobile gift card, although Millennials numbered 29 percent of the survey population who had done so.

Analysis from this study on digital and mobile adoption reflected how people are actually shopping, and how they are feeling about switching from physical to digital cards. It identified a geographic aspect to consumer preferences, with physical gift cards being the preferred mode for face-to-face exchanges and digital cards becoming more popular and socially acceptable when gift giving cannot be done in person.

Jenny Parris, Head of Global Marketing and Product at SVS and study author, noted, "One of the less intuitive findings is that there was a modest increase in comfort level over redeeming cards via mobile.  Most importantly, however, there are many steps retailers can take right now, to speed consumer migration to digital and mobile formats."

About SVS

Stored Value Solutions (SVS) is a global provider of gift card and stored value services, with nearly two decades of industry experience and a team of 300+ professionals. A pioneer in the market, SVS is committed to measurably increasing client sales through data-derived insights, using such stored value products and services as retail gift cards, promotional cards, consumer engagement strategies, mobile interactivity and eCommerce solutions. Please visit SVS online at www.storedvalue.com.

MEDIA CONTACT:
Meir Kahtan
Meir Kahtan Public Relations, LLC
+1 212-575-8188
mkahtan@rcn.com

SOURCE Stored Value Solutions



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