We’re not only approaching what has been called “the most wonderful time of year,” but for many, it can also be the most stressful time of year.
But a new survey indicates it doesn’t have to be that way.
Deciding who and what to include on a Christmas gift list, and then actually braving the crowds to shop for those items, carting them home and wrapping them up has been the more traditional way to handle this yearly chore.
Turns out, 79% of Canadians would prefer to receive an “open loop” gift card, which carry the VISA, MasterCard or American Express brand names, and allows the recipient to spend them anywhere, as opposed to store gift cards which limit choices.
The Leger survey, What Canadians Really Want: 2015 Holiday Gift Trends was commissioned by the Canadian Prepaid Providers Organization, and it also finds 70% prefer to give gift cards over cash because they feel the recipient will actually spend it on something for themselves.
62% of Canadians say they will likely purchase a gift card this upcoming holiday season, with 46% intending to purchase at least one open loop gift card.
And over half of Canadians (51%) say they prefer going the gift card route because it’s more secure than giving cash.
“It’s not surprising that the convenience, flexibility and security of open loop gift cards have Canadians moving away from the traditional gifts of choice this holiday season. Today’s connected consumers crave the freedom to shop for what they like, wherever and whenever they like, and that flexibility is contributing to the growing popularity of open loop gift cards in Canada.” – David Eason, CPPO co-founder and Chairman of the CPPO and Berkeley Payment Solutions.