Seastone Releases Industry Gift Card Survey Results
Provo, Utah-based, Seastone, a market leader in specialty gift card packages and gift card promotional programs, announced the results of the 2008 Gift Card Packaging Study conducted by The Marketing Workshop. Commissioned by Seastone, the survey found that 96 percent of adults have purchased or received a gift card, and nearly four in 10 have purchased gift card packaging. In what represents a clear revenue opportunity and potential threat for retailers, half of respondents indicated they are purchasing gift card packaging at a different time and place than the gift card.
“Gift card packaging has grown rapidly as a retail product category over the past few years, and this survey shows that consumer awareness is very high—88 percent of gift card purchasers are now aware of special packaging,” said Eric Child, Seastone president. “Retailers that do not offer gift card packaging are missing a significant revenue opportunity, since consumers are more likely to purchase a gift card if it either comes with free packaging or if packaging is available for purchase,” he concluded.
The highest number—84 percent—of consumers are more likely to purchase a gift card if it comes with free packaging, but 55 percent of respondents said they are also more likely to buy gift cards if separate packaging is available for purchase. Meanwhile, 62 percent said they were more likely to purchase if the gift card display includes multiple packaging options.
According to the study, the most popular format for gift card packaging is a tin box at 29 percent, (for which Seastone holds an issued patent). Tin boxes are followed by paper pouches at 19 percent, greeting cards at 15 percent and is rounded out with 10 percent preferring stuffed animal designs. In terms of occasions, gift card packaging is 78 percent likely to be purchased for a birthday, followed by the 72 percent for the December holidays. The trend towards birthday purchases makes a strong case for year-round gift card packaging programs. Seastone commissioned the independent survey with The Marketing Workshop to assess the current status of the gift card packaging market.