Gift Cards: Trends & Preferences (Part 2)

by CPS Cards

As the gift card industry evolves, businesses must pay attention to trends and consumer preferences according to Fiserv’s Q22023 survey.

AI-Designed Artwork: Embracing AI’s Creative Potential

Artificial Intelligence (AI) has become a game-changer in various industries, and the gift card sector is no exception. However, opinions on AI’s role in gift cards vary among survey participants, revealing interesting insights into consumer preferences and expectations.

Over 50% of respondents expressed openness to purchasing gift cards featuring AI-designed artwork. This indicates a growing willingness to embrace AI’s creative potential in the design of gift cards. AI algorithms enable businesses to create visually appealing and innovative gift cards, enhancing the overall gifting experience.

ChatGPT and Open AI for Gift Card Messaging: A Passing Fad?

In contrast, a majority (67%) perceived the use of AI for creating gift card messaging as a passing fad. This cautious attitude suggests a more reserved approach towards integrating AI in certain aspects of the gift card experience. While AI has its merits, human touch and personalization still hold importance for consumers.

Respondents also expressed a strong interest in customization options for gift cards.

  • Over 50% of participants wanted the ability to choose the retailer for which the gift card is valid, giving recipients the freedom to select their preferred store.
  • Additionally, nearly 40% indicated a preference for fully customizable images on gift cards, adding a personalized touch and making the gift card feel unique.

More findings in the survey included:

Sustainability: Meeting Environmental Expectations

Sustainability is a priority for consumers, as demonstrated by 35% expressing interest in gift cards made from sustainable design materials. This aligns with the growing trend of environmentally friendly products and highlights the importance of offering sustainable options in gift card designs.

Consumer Preferences Across Age Groups:

Ages 45-60: This demographic desired more multi-vendor gift card options, enabling them to choose from a range of retailers.

Ages 30-44: The sustainability-conscious age group favored gift cards with sustainable designs, reflecting their commitment to environmentally friendly products.

Ages 18-29: Younger consumers preferred fully customizable card designs, emphasizing their desire for personalization and uniqueness.

Conclusion: Adapting to Consumer Needs

By understanding popular gift card promotions, embracing sustainability, exploring AI integration thoughtfully, and catering to diverse consumer demands, companies can enhance their gift card offerings and meet the evolving needs of their customers.