With the holiday season quickly approaching a recent survey entitled, What Canadians Really Want: 2015 Holiday Gift Trends, reveals that more Canadians are wishing for the gift of choice and flexibility. The survey shows a majority of Canadians, 79 percent, say they would like to receive an open loop gift card, allowing them to buy exactly what they want when they want it and 78 percent prefer open-loop gift cards versus closed loop gift cards that they can only be used at one retailer. Open loop gift cards carry the card brand of American Express, MasterCard or Visa and are accepted everywhere the card network is accepted, including in-stores and online.
- Open loop gift cards (53%) and closed loop (retail) gift cards (45%) are the top holiday gift picks among Canadians
- One-third (33%) of Canadians have given, and 45% of Canadians have received, an open loop gift card as a gift
- While Canadians of all ages are equally as likely to give a gift card, Millennials are the most likely to have received an open loop gift card as a gift (57%)
- Over three-quarters (78%) like the flexibility of being able to use open loop cards almost anywhere versus a retail gift card
- Over half (51%) prefer open-loop gift cards because it is more secure than giving cash
The What Canadians Really Want: 2015 Holiday Gift Trends online survey of 1,563 Canadian consumers was conducted by Leger and commissioned by the Canadian Prepaid Providers Organization (CPPO).