Consumer Payment Card News

Teen Spirit

A new survey shows that 98% of all teens between the ages of 14 and 19 have either bought or received a gift card. Also, teens purchased almost double the number of gift cards they did in 2006. The national “Teen Gift Card Survey,” commissioned by Comdata Stored Value Solutions, also found that the average loaded dollar amount on cards given went from $28 to $33. Teens also reported that 46% of the presents they give are gift cards – a 12% increase from 2006. Males are still more likely to give gift cards than females. Also, gift card malls, a collection of various retailers’ gift cards typically found in convenience or grocery stores, continue to gain acceptance. Forty-five percent (up from 29% in 2006) of teens say they have purchased a gift card at a gift card mall and 21% (up from 11% in 2006) say they prefer to buy them there. Teens surveyed reported spending an average of $101 yearly on gifts.

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