Branded Gift Cards are the Preferred Gift Among Family and Friends
The Network Branded Prepaid Card Association (NBPCA) has announced that "a recent survey of 8,234 consumers uncovered high levels of enjoyment and personal connection to the branded gift cards experience."
The survey, commissioned by the Network Branded Prepaid Card Association (NBPCA), a non-profit, inter-industry trade association created to advance the success of branded prepaid cards, and conducted by Professor Dan Horne, Providence College, suggests branded gift cards (cards with an American Express, Discover, MasterCard or Visa logo) have crossed the threshold from an impersonal gift to one that is preferred by recipients and shared among close friends and family members in high numbers.
“Branded gift cards are no longer thought of as a 'convenience' or 'utility' gift as recipients express high levels of emotional value from receiving the cards,” said Professor Horne. “People prefer the experience of receiving a branded gift card to receiving cash or traditional gifts. They fantasize about what they will buy and enjoy the freedom to treat themselves to something they pick out.”
The study surveyed more than 8,000 gift card recipients (2,300 had received a branded gift card) and asked them about their experiences with gift cards during the 2007 holiday season. It is the largest and most comprehensive study to-date that explains why branded gift cards are such welcome gifts. The survey results (released today) can be found on the NBPCA website at http://www.nbpca.com.
This is great news for those of us in the prepaid card space. Thanks to the NBPCA for putting this study together and to Payments News for telling me about it. :)
Posted by: Mike Templeton | June 05, 2008 at 06:29 AM