Archstone Consulting Releases 2007 Holiday Gift Card Survey.Study Reveals Gift Card Sales Could Skyrocket sky·rock·et n. A firework that ascends high into the air where it explodes in a brilliant cascade of flares and starlike sparks. intr. & tr.v. to $35 Billion This Holiday Season STAMFORD, Conn. -- First bullet under Key Findings should read: Gift card purchases are expected to reach an all-time high at $35 Billion this holiday season, compared to last year's actual spending figure of $27.8 Billion - that's a 25 percent increase year-over-year (sted xxx actual spending figure of $25 Billion - that's a 40 percent increase year-over-year) The corrected release reads: ARCHSTONE CONSULTING RELEASES 2007 HOLIDAY GIFT CARD SURVEY Study Reveals Gift Card Sales Could Skyrocket to $35 Billion This Holiday Season Archstone Consulting, a leading management consultancy and brand innovation firm, today announced the results of its 2007 Holiday Gift Card Survey. The survey examined the shopping habits of more than 1,000 web users across various age groups, gender and region. Key Findings from survey include: * Gift card purchases are expected to reach an all-time high at $35 Billion this holiday season, compared to last year's actual spending figure of $27.8 Billion - that's a 25 percent increase year-over-year * More than 56 percent of gift cards are redeemed within the first month of purchase; 85 percent of all cards are redeemed within three months * Almost 50 percent of the respondents spend more than the value of the card upon redemption * The average American family American Family is a photographic artwork exhibition by Renée Cox. See also
* Prepaid credit cards will see the most growth this season as they allow consumers the flexibility to spend by choice Archstone Consulting expects to see significant growth in the gift card category with total sales reaching $35 Billion this holiday season. Fueling this growth is the prevalence and choice of gift cards across multiple channels. Retailers are now making it more convenient than ever by offering their cards (e.g.; iTunes, Marriott, or The Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box ) at check-out counters of drug stores and supermarkets across the nation. "Retailers and consumers both realize the tremendous flexibility and value gift cards provide," commented Andrew Buss, Vice President, Strategic Innovation, for The Hazelton Group (an Archstone Consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a ). "Retailers have proven to be resourceful in finding opportunities to expand their gift card offerings across all retail channels, which gives the consumer the power to purchase these cards at a variety of participating locations throughout the country." Consumers like the time savings and convenience gift cards provide them, Buss explains. "When it comes to selecting a present for a family member or friend, it is often difficult to decide what to buy - gift cards instantly take the hassle out of this decision." The survey findings also revealed that approximately 56 percent of all holiday gift cards will be redeemed within the first month of receipt. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Michael Unger, a Director in Archstone Consulting's Consumer Products and Retail Practice, "Retailers that alter first quarter pricing strategies There are many ways in which the price of a product can be determined. The following are the foremost strategies that businesses are likely to use. Competition-based pricing Setting the price based upon prices of the similar competitor products. to take advantage of the prevalence of gift cards will capture more margin in January, traditionally a month of clearance markdowns." Additional findings from this survey include: Males Dominate the Gift Card Category * Men spend on average $61 per gift card versus an average of $42 for women * 90 percent of the highest per gift card expenditures ($200+ per card) are purchased by men * Men purchase more gift cards than women overall and tend to purchase cards earlier in the holiday season than women Top Performers by Category Over Time * Luxury, Auto and Music were generally the first cards to be redeemed within the first month * Entertainment, Food and Beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , and Mass Stores gift cards were among the higher redemption rates within three months * After three months, consumers tend to have the most cards outstanding in the Travel, Luxury, and Home Improvement (Do It Yourself - DIY DIY abbr. do-it-yourself DIY or d.i.y. Brit, Austral & NZ do-it-yourself DIY abbr DIY do it yourself a DIY shop/job. ) categories (See figures 1 and 2) In addition to the statistics and findings above, the survey provides insights about gift card dynamics by category, consumer preferences, and purchase influencers. The results also offer insights about how, when, and where to market gift cards with demographic information by region, age, sex, and race. For more detailed information and analysis relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Archstone Consulting's 2007 Holiday Gift Card Survey findings, please contact: David Schutzman, Chief Marketing Officer - (203) 940-8221. Notes on Methodology This survey was conducted by Archstone Consulting in collaboration with The Hazelton Group, an Archstone Consulting company. Survey programming was provided by Open Venue on a national survey of 1,000 web users. Demographic quotas across age, gender, and region were used to ensure the sample was as representative as possible of US census bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census data (See figure 3). The information provided above is provided by Archstone Consulting solely for informational purposes. In addition, the statements above speak as of the date of this release. Factors could arise after this date that could affect the outcomes and forecasts set forth above. Archstone Consulting shall have no liability to any party for any action taken or not taken, or results obtained, in reliance on this information. About Archstone Consulting Archstone Consulting is a leading independent Strategy, Operations, CFO See Chief Financial Officer. Advisory and Brand Innovation management consultancy, specializing in delivering strategic, operational and IT advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to the consumer products, retail, life sciences, manufacturing, and services sectors. Archstone Consulting offers experienced support, efficient execution and measurable results. Complementing this industry expertise is The Hazelton Group, an Archstone Consulting company. The Hazelton Group is a leading, research based brand innovation firm, specializing in growth through new product innovation, brand positioning and rejuvenation Rejuvenation Aeson in extreme old age, restored to youth by Medea. [Rom. Myth.: LLEI, I: 322] apples of perpetual youth by tasting the golden apples kept by Idhunn, the gods preserved their youth. [Scand. Myth. and global brand development. Headquartered in Stamford, Connecticut Stamford is a city in Fairfield County, Connecticut, United States. According to 2006 Census Bureau estimates, the population of the city is 119,261, making it the fourth largest city in the state. , Archstone Consulting has offices in Amsterdam, Chicago, London, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and Toronto. For additional information, please visit the company's new website at www.archstoneconsulting.com. |
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