New research 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.”