Commerce Bank Continues Gift Card Push
Commerce Bank says we should "indulge the ones you love this Valentine's Day by letting them choose the gifts they want. Your flowers and candy will smell better and taste sweeter when given with a Commerce Gift Card." Using a unique strategy among bankers, Commerce Bank sells the instant-issue Commerce Gift Cards for free - already "elegantly packaged in a signature red box and tied with a white satin ribbon" - through any of the bank's 430 retail locations.
According to the National Retail Federation's (NRF) 2007 Valentine's Day Consumer Intentions and Actions Survey, conducted by BIGresearch for NRF, the average consumer will spend $119.67 on Valentine's Day, up from $100.89 last year. With 63.4 percent of consumers planning to celebrate the holiday, total 2007 Valentine's Day spending is expected to reach $16.90 billion. Popular gifts include cards (62.8%), candy (48.4%) and flowers (36.7%). The survey also showed that nearly 12 percent of buyers plan to show their affection with a gift card.Unlike Commerce Bank, other banks charge a fee - anywhere from $3.95 to $11.95, depending upon the amount loaded on the card - for each gift card purchased. Commerce is the first and only bank offering customers the convenience of an in-store, instantly available, completely packaged gift. And, unlike gift cards available from specific merchants, the Commerce Gift Card is accepted at millions of locations worldwide and enables recipients to buy what they want, when they want, wherever Visa debit cards are accepted.
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