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Digital gift cards are becoming an option for which, more and more, consumers are looking. According to a recent survey of 500 consumers from ages 18 to 65+, 77 percent of respondents indicated they want to be able to choose between digital and physical gift cards. Fifty-seven percent of respondents said they buy between two and seven gift cards annually from an online site or mobile app.
One reason for the rise in popularity of digital gift cards is their versatility. Consumers are no longer thinking of digital gift cards as something to be given away. Of course, they can be used as easy-to-deliver gifts for friends and family. But consumers are also using them for personal budgeting.
In that same survey, 75 percent of respondents between the ages of 18 and 35 indicated that they are interested in purchasing digital gift cards to store and use on their phones for their own personal needs. Across all demographics, 55 percent of respondents said they were interested in storing digital gift cards on their phones for self-use.
This kind of versatility can drive strong adoption into loyalty programs that offer digital gift cards as rewards, making them a valuable product for any retailer to offer.
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