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Gift Card Searches Surge As Last Minute Gift Idea

Comment comment by tomtolman on 19 December 2006

This post is well timed as last-minute holiday shoppers search for gift cards. Hitwise, a company that closely tracks Internet trends, issued a press release today that indicated that people are searching for gift cards in greater numbers as we get close to Christmas. From the press release:

The share of US Internet searches for 'gift cards' surged 109 percent for the week ending December 16, 2006 versus the previous week as online shoppers looked for last minute gift ideas. Some of the fast growing gift card related searches in that period were 'american express gift cards,' up 184 percent, 'itunes gift card,' up 69 percent, and 'visa gift cards,' up 19 percent.

“For the second year now, we’ve seen a pattern of increased searches on gift cards as Christmas day approaches,” said Bill Tancer general manager of global research at Hitwise. “This year branded credit and charge gift cards dominated top searches as gift givers opted for the most flexibility for their gift recipients.”

Gift cards are a great business for companies even if people use them. It forces people to purchase from the selected store. In addition, most people probably buy more than the card is worth (i.e. buy a $20 DVD with a $10 gift card). Some people, and I don't quite understand this one, even make money selling gift cards for more than they are worth on eBay.

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