5 Statistics That Prove Canada’s Growing Love For Gift Cards

It’s no secret that gift cards are popular with both shoppers and their recipients. You certainly don’t need to wait for the holiday season in order to see significant gift card sales. Of course, they spike during the holidays. But, it’s well known to retailers all across Canada, that gift cards are big sellers all year round. The statistics don’t lie!

Here are five statistics that prove Canada’s growing love for gift cards:

1. 70 percent of Canadian gift buyers prefer giving gift cards over cash. Revealed by the Canadian Prepaid Providers Organization (CPPO), this stat comes courtesy of a 2015 online survey of 1,563 Canadian consumers entitled “What Canadians Really Want: 2015 Holiday Gift Trends”. The survey’s respondents noted that they feel recipients are more likely to use their gift cards – as opposed to cash – for something special for themselves.

2. 87 percent of Canadians both purchase and receive gift cards each year. This statistic comes courtesy of the 2015 Canada Gift Card study by Blackhawk Network. As reported by MarketWatch.com, the study found that the stat marked a 68 percent jump from 2010. As well, “more than half of respondents who purchased a gift card in the past year bought four or more cards (53 percent),” reveals the site about the study, “Ninety-one percent have received a gift card in the last year.”

3. Gift cards are popular with everyone. Statistics show that gift cards make excellent gifts for all types of people. Regardless of age or a gift buyer’s relationship with the recipient, a gift card is often regarded as an ideal gift choice. “The top recipients for gift cards in the last year were family friends (36 percent), spouse or partner (31 percent), parent (27 percent), sibling (27 percent), a child or stepchild (25 percent) and other relatives (31 percent),” reports MarketWatch.com about the Blackhawk Network study.

4. Gift cards are popular for every occasion. As mentioned earlier, Canadian consumers don’t wait until the holidays to purchase gift cards. They are widely purchased as gifts all year round for a variety of occasions. “In the past year, gift card purchasers most heavily bought the gifts for Christmas/winter holidays (64 percent), birthdays (58 percent), self-use (23 percent) and thank-you gifts (19 percent),” MarketWatch.com informs of the Blackhawk Network study.

5. 62 per cent of Canadians anticipate purchasing gift cards during the holiday season. Although gift cards are purchased all throughout the year, it’s important to highlight the fact that they are huge sellers during the holiday season. Canadian retailers stand to make a lot more money when they add gift cards to their lists of products. This statistic, revealed by the CPPO, demonstrates that gift cards are highly sought-after holiday gifts each and every year.

At Canadian POS Corporation, we offer this perfect solution to grow your business! Our gift cards are known for encouraging repeat business, attracting new customers and boosting sales for our clients all year long. Gift cards account for billions of dollars per year in sales for retailers nationwide. To learn more about how you can begin selling gift cards in your store, call Canadian POS Corporation at 1-877-748-2884 or email us at info@cdnpos.com.