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2010 Prepaid and Gift Card Market: Challenging Year Calls for New Growth Strategies
Javelin Strategy & Research, March 2010, Pages: 35
This will be a challenging year for the prepaid and gift card industry as new regulations cause a shift to more consumer friendly, less costly products. Consumer usage of combined gift and prepaid products fell by 5% in 2009 to 61%, as the U.S. entered its second year of recession. Indications from leading stakeholders suggest that the market has rebounded and will regain momentum in 2010 as products reposition with lower costs and better functionality. Additionally, industry consolidation will accelerate as the prepaid and gift market continues to mature and as regulation reduces fee income options for many providers.
Primary Questions:
- What are the key trends in prepaid and giftproduct transacting?
- Who uses prepaid and gift products and what demographic patterns are associated with users of each product?
- What market forces are influencing change in the prepaid and gift markets?
- How are the major card networks driving prepaid and gift business?
- What merchant and positioning strategies are proving effective in building demand for prepaid and gift vehicles?
- Are gift card users demographically similar to general purpose prepaid users?
Methodology
The consumer data in this report is based on data collected online from:
- A random sample panel of 3,294 consumers collected in November 2009, with an overall margin of sampling error of ±1.71 percentage points at the 95% confidence level. The surveys targeted respondents based on representative proportions of gender, age, and income compared to the overall U.S. online population. Rounding (in the underlying numbers) in charts accounts for the slight differences in totals.
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