A growing number of consumers prefer receiving a general-purpose gift card as a present instead of something chosen by the giver, according to a survey by the Network Branded Prepaid Card Association.
More than 8,000 gift-card recipients participated in the survey, which was released last week, and about 30% of them received a general-purpose prepaid gift card during last year's holiday season. About 90% of those recipients used the card within seven weeks, and more than 80% said they liked receiving a general-purpose card, because it let them purchase something of their choice.
Dan Horne, a professor at Providence College, conducted the survey in February.
General-purpose gift cards carry the brand of Visa Inc., MasterCard Inc., American Express Co., or Discover Financial Services and function like debit cards.
The survey predicted that their use would more than double during this year's holiday season, to 1.28 cards per person.
Paul Tomasofsky, the trade group's executive vice president and chief operating officer, said in a press release that consumers have "made a clear statement that gift cards offer a better overall experience than cash and traditional gifts."
