Majority of Kids Have Received at Least One Gift Card, Company Says

LOUISVILLE, Ky. – Most children from the ages of 5-14 have received a gift card in the past, and four out of five parents reported having purchased gift cards for their children, according to the Stored Value Systems company, a leader in the stored value and gift card industries. The company said this was one of the results of its annual consumer survey about gift card knowledge and use. The survey asked 755 randomly selected consumers about their experience with gift and stored value cards with children from ages 5-14. This was the first year that SVS surveyed consumers about gift cards and children under 16. “We wanted to explore usage among a younger age group and thought the results were intriguing,” said Bob Skiba, SVS executive vice president explaining why the company had asked about the younger demographic. “For example, some parents said they like gift cards because they can teach a child how to budget and manage money.” The survey also found that, after winter holidays and vacations, most parents used gift cards as a way of rewarding their children for academic and other achievements. The survey also found that exposure to gift cards is significantly higher among children ages 9 to 14 and that there are few differences in gift card behavior between boys and girls and that, on average, parents have purchased two gift cards for their own child in the past year. Four out of five gift card purchases for children are planned, as opposed to impulse buys, the survey found and almost 75% of parents said card design was important. Seven in 10 children spend gift cards within one month of receiving them, the survey found. [email protected]