Newsroom:
Stored Value Solutions Press Releases
08-16-2006
Teen Gift Card Survey Reveals Battle of the Sexes
BRENTWOOD, Tenn. - Shopping differences between males and females begin as early as the teen years, when males are more likely than females to purchase gift cards vs. an actual item, according to a national survey released today.
Commissioned by Stored Value Systems, Inc. (SVS), a leading national gift card supplier and transaction processor, the survey of 603 college-bound teens reveals that 48% of males purchase gift cards rather than purchase gift items for their families and friends throughout the year, while females purchased about 33% gift cards rather than gift items. Stored Value Systems, Inc. is a subsidiary of Comdata® Corporation.
When it comes to what types of gift cards teens prefer to receive, that question widens the gender gap as well. Males prefer gift cards from electronics stores (51%) while females prefer clothing stores (70%) and book stores (48%). This year's survey also points out that 95% of those asked had purchased or received a gift card.Males are also more likely to purchase gift cards online (51%) than females (32%). Males (47%) are more likely than female teens (34%) to purchase gift cards with preset amounts on them, as compared to choosing an amount.
"This year's survey, our third focusing specifically on teens use of gift cards, really does highlight the many differences in spending habits between the sexes," said Bob Skiba, EVP of SVS. "We're seeing males wanting to avoid lines by shopping online and are more interested in being able to use a card at multiple retailers while females are interested in getting a gift card from a specific retailer and using their gift card more quickly than males," he added.
"Nearly a third of teenagers are purchasing gift cards at gift card malls," according to Skiba. "A gift card mall offers numerous retailers' gift cards and are usually found in a grocery or convenience store. That is a significant number when you realize that purchasing a gift card has been expanded to tens of thousands of locations with the gift card mall," Skiba said.
Other key findings from the survey include:
- 80% of females like a gift card because the recipient can get what he/she wants vs. 60% of males.
- Females buy gift cards because they are more convenient (36%) while males are at 32%. Females buy gift cards when they can't decide what else to get (71%); while males only cite that reason 57% of the time.
- Females are more likely to buy at a retail location (92%) than males (84%).
- About 29% of teenagers have purchased gift cards from a gift card mall, a free-standing display of variety of leading retailers' gift cards. Of those, females are more likely to purchase a gift card at a gift card mall (51%) than males (34%).
- The average number of gift cards teens purchased for friends and family over the past year was 4.3 gift cards. The average amount they loaded onto a gift card was $28.
- The top occasions for giving gift cards include: birthday, Christmas/other winter holidays, graduation, Mother's Day, Father's Day, congratulations, thank-you gift, just for fun and anniversary.
NOTE TO EDITORS: An excerpt of the study is available by contacting Comdata corporate communications at 1-800-COMDATA (266-3282), ext. 3, or kwhitten@comdata.com.
About Stored Value Systems
Since introducing the first-ever magnetic-striped retail gift card to shoppers in 1995, Stored Value Systems, Inc. (SVS) is one of the world's leading providers of electronic gift, loyalty, EBT and other stored value cards. Operating nationally and internationally, SVS creates customer loyalty, increased sales and stronger brand awareness through its gift and loyalty card programs. Headquartered in Louisville, Ky., SVS is a wholly owned subsidiary of Comdata®Corporation. For more information, visit www.storedvalue.com.
About Comdata Corporation
Comdata® Corporation (www.comdata.com) is a leading business-to-business issuer and processor of payment cards, primarily in the retail and transportation industries. Comdata's range of products and services include fleet, fuel, purchasing, T&E, payroll/reimbursement, EBT, gift and loyalty cards and processing. A full-service merchant processor, Comdata's platforms support both its proprietary card networks as well as processing for any card tender a merchant may accept. Headquartered in Brentwood, Tenn., Comdata employs more than 1,500 people nationally and internationally. Comdata is a wholly owned subsidiary of Minneapolis-based Ceridian Corporation (NYSE: CEN).
About Ceridian
Ceridian Corporation (NYSE: CEN) is an information services company serving businesses and employees in the United States, Canada and Europe. Ceridian is one of the top human resources outsourcing companies in each of its markets, and offers a broad range of human resource services, including payroll, benefits administration, tax compliance, HR information systems and employee advisory programs. Through its Comdata subsidiary, Ceridian is a major payment processor and issuer of credit cards, debit cards and stored value cards, primarily for the trucking and retail industries in the United States. www.ceridian.com
