NEW YORK (LowCards.com) — Buying gift cards this holiday season is even easier with the growing availability of virtual gift cards. Ordering is done online, and an email is sent to the recipient with the details needed to claim the gift.
Gift cards continue to show significant increases each year. According to a survey by the National Retail Federation, 81.1% of consumers will buy at least one gift card this year and spend an average of $156.86 on gift cards. The NRF predicts total spending on gift cards will hit $28.8 billion.
It is also a gift that can be easily forgotten. From 2005 through last year, $41 billion on gift cards went unspent, according to The Wall Street Journal.
Store brand gift cards are bought and used only at a specific retailer or groups of retailers. These cards typically have no fees and never expire. Target shoppers can send a digital gift card to a recipient by scanning a QR code on an in-store display. Amazon virtual gift cards can be bought in almost any amount, from 15 cents to $2,000. Restaurant.com offers discounts for e-gift cards to participating restaurants across the country, such as a card valued at $25 for just $10.