The popularity of store gift cards is plummeting, according to research and advisory firm TowerGroup. The reduction in card spending is reflective of less confidence in retailer inventories and stability. TowerGroup expects store gift-card spending volume to fall by 7%, with a modest increase of 3% in general-purpose cards in 2009, according to “Gift Cards: Still Better to Give than Receive,” a report released today.
Filed under: Consumer observations
