Today's consumers are turning their growing appreciation for gift cards into an all-out public embrace. According to First Data’s 2011 U.S. Prepaid Consumer Insights Study, the average amount spent per closed-loop card grew in 2011, increasing by more than 23 percent compared to 2010. The average total amount consumers spent on closed loop gift cards increased to $211 from $161 last year.
However, while consumers continue to open their wallets and spend more on gift cards, it’s crucial for merchants to take the time to stay on....