(Des Moines, Iowa – December 18, 2012) – Holiday gift card sales are up and expected to increase further in the week leading up to Christmas, according to Konrad Christensen, retail payments product manager for The Members Group (TMG).
To date, TMG’s financial institution (FI) clients have sold 119 percent more ATIRAgift cards this year as compared to 2011. TMG clients are averaging a 31-percent increase of ATIRAgift cards sold per FI location over 2011.
“The growth trends we’re seeing are in alignment with predictions of increases in prepaid this holiday season,” said Christensen. One such prediction came from the National Retail Federation. In its 2012 holiday consumer spending survey, nearly 60 percent of respondents planned to buy gift cards this holiday season.
According to Christensen, the increase in prepaid sales may be tied to consumers’ increase in online shopping.
“The Consumer Debit Payment Choice Research Study issued in October 2012 found gift cards actually top debit and credit cards as consumers’ preferred way to shop and pay online,” said Christensen. According to the study, 71 percent of consumers surveyed indicated they feelsecure using gift or prepaid reload cards to make online purchases.
According to preliminary results, total card loads in 2012 are up more than $70,000 compared to 2011.
About TMG
The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.