Tuesday, December 27, 2011

What's in the Cards? A Lot of Christmas Gifts

Posted By on Tue, Dec 27, 2011 at 9:58 AM

Bigger gifts came in smaller packages this year.

According to the National Retail Federation, gift-card sales are expected to reach a record $27.8 billion this year, once again making them the No. 1 holiday gift for the fifth year.

Thirty-one percent of consumers told NRF pollsters that they had bought gift cards. It's projected that some 40 percent of holiday gift cards are redeemed in January because of post-Christmas discounts and promotions.

Overall, the NRF predicts that holiday sales will rise 3.8 percent to a record $469.1 billion this year.

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