Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Man Tries to Order Priciest Starbucks Drink Ever Total cost: $23.60 »

Declines in Gift Cards, Self-Splurges Hurt Retailers

By Matt Cantor,  Newser Staff

Posted Dec 10, 2008 4:57 PM CST

(Newser) – Naughty or nice, America’s retail stores can’t look forward to two of the holiday season’s usual boons: gift card sales and “self-gifting” splurges, MarketWatch reports. About 44% of shoppers say they will not buy gift cards this year, up from 26% last year, a marketing study says. Meanwhile, people are being stingy with themselves as they shop for others.

Self-gifting this year is down to 30.7% from 55% a decade ago, the survey by America’s Research Group and UBS found. Traditionally, gift cards provide a windfall for retailers: They draw recipients into stores and often result in extra spending. The cards brought in $26 billion in sales last year.

In this 2007 file photo, last minute shoppers carry bags the day before Christmas in New York.
In this 2007 file photo, last minute shoppers carry bags the day before Christmas in New York.   (AP Photo)
An early bird Black Friday' shopper pulls a gift card from the rack at Target in Aurora, Ohio, Friday, Nov. 28, 2008.
An early bird "Black Friday' shopper pulls a gift card from the rack at Target in Aurora, Ohio, Friday, Nov. 28, 2008.   (AP Photo)
Gift cards on display at the Sears store in Mountain View, Calif., Tuesday, Dec. 2, 2008.
Gift cards on display at the Sears store in Mountain View, Calif., Tuesday, Dec. 2, 2008.   (AP Photo/Paul Sakuma)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Retail Scores Big on Unused Gift Cards

Yep, 'Black Midnight' Worked

Target Worker Fights 'Black Midnight' Hours

Retailers Ready Black Friday 'Dogfight' on TV Prices

Walmart Rolls Out Free Shipping


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne