Are you still searching for a gift for that hard-to-buy-for family member? A gift card might be a great choice.
Toronto-based global fintech company Givex partnered with the Angus Reid Institute to explore Canadian spending habits and attitudes toward gift cards ahead of the 2022 holiday season.
Two-in-five Canadians who responded to the survey said they would most like to receive a grocery or gas gift card this holiday season.
Women, young people, and those living in Atlantic Canada were most likely to report this.
Other top picks included credit card gift cards, retail gift cards, and travel gift cards.
When asked about purchasing gift cards, more than three-quarters said it is less stressful than buying a physical gift.
Fifty-four per cent said they buy gift cards when they want to let the recipient choose their own gift, while half said their primary incentive is not knowing what to gift the recipient.
Around one-half of respondents said they would be more likely to buy a gift card with an offer for a discounted card, such as 20 per cent off $100.
Despite financial challenges, over one-quarter of Canadians plan on spending $200 or more on gift cards this holiday season, with three-in-five expecting to spend at least $100.
You can find the full results of the survey by clicking here.
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