No Longer the “Lazy Gift”: Americans Flock to Gift Cards This Holiday Season

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Almost a third (31%) of Americans feel more positive about giving and receiving gift cards this holiday season, compared to before the pandemic when they were often considered the gift of last resort.

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Americans are increasingly looking to gift cards as a financial instrument that allow them to give the gift of financial agility to their friends, family and loved ones – especially during a year that has been marked by record inflation, job losses and other economic challenges.

New research[1] by CoinZoom, a U.S. based cryptocurrency exchange and leading fintech company, has revealed that almost a third (31%) of Americans feel more positive about giving and receiving gift cards this holiday season, compared to before the pandemic when they were often considered the gift of last resort. As a result, over a quarter (28%) of U.S. adults now buy gift cards once a month or more.

This changing attitude towards gift cards is being driven in large part by the desire to help friends and family members buy the goods and services they really need in the current economic environment, rather than giving a gift that ends up gathering dust in a drawer. In a survey of 4,000 Americans, ages 18 and older, 47% that regularly buy gift cards said they now do so to enable the recipient to buy what they need, and almost a fifth (19%) said they specifically buy gift cards as a gesture of goodwill.

“Consumers are re-casting the role of money to meet their new economic reality in a post-pandemic world,” said Todd Crosland, CEO of CoinZoom. “Our survey shows that Americans are increasingly looking to gift cards as a financial instrument that allow them to give the gift of financial agility to their friends, family and loved ones – especially during a year that has been marked by record inflation, job losses and other economic challenges.”

The survey results are unveiled as CoinZoom launches the world's first eGift Card program that offers rewards in Bitcoin. Users can now buy eGift Cards on the CoinZoom platform in seconds with a wide-range of payment options, including crypto – and they will earn 1% in free Bitcoin for every eGift Card they buy.

A wide range of retail, travel, food and gaming brands are now offering eGift Cards on CoinZoom, enabling users to help others out with gifts that make ends meet, or simply a special treat for someone they care about this holiday season.

Crosland continues: “Our new service is unique in that it allows the buyer to help others while also rewarding them with an asset they can invest in their own future or spend on what they need themselves via our CoinZoom Visa debit card or ZoomMe money transfer service. This is another exciting milestone in our mission to integrate crypto into the broader financial ecosystem by making it more accessible to all.”

About CoinZoom
CoinZoom, with customers in 200 countries, is the next generation digital asset exchange that uses the team's vast experience in providing superb trade quality, customer-focused tools, and technology that help customers become successful traders. CoinZoom offers services in buying, selling, sending and spending Bitcoin, Ethereum, and over 40 top digital currencies. CoinZoom's premier product is its CoinZoom Visa card, which allows customers the ability to instantly convert crypto to fiat and spend it at over 53M merchants globally. CoinZoom also offers global customers a premier Peer-to-Peer payments system called ZoomMe. CoinZoom customers can send fiat and crypto anywhere in the world, instantly for free. The team's decades of experience in financial technology security are equally important in safeguarding customer funds and customers' digital currency positions. CoinZoom is a U.S. registered Money Services Business with FinCen. CoinZoom is also a U.S. registered Money Transmitter, available for trading in 48 states. CoinZoom also has subsidiaries in Australia and Ireland. CoinZoom Australia PTY LTD is registered as a Digital Currency Exchange with AUSTRAC and CoinZoom Europe Limited and is pending registration as a VASP in Ireland.

[1] An online survey of 4000 U.S Adults (using a nationally representative sample), conducted in October 2022 by Netfluential

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Adrianne Blackett
CoinZoom
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