BRENTWOOD, Tenn. — A new survey from a major gift card issuer indicates that Hispanics are the population most likely to purchase and use prepaid cards, both to use as gifts for others and for themselves.
The Comdata Stored Value Solutions (CSVS) fifth annual gift card survey reported that Hispanics received gift cards with the highest average value among ethnic groups at an average balance of $71, compared to $41 for Caucasians and $60 for African-Americans. The Hispanic total was a $33 increase over last year, the company said.
"Our survey shows us that Hispanics are enthusiastic consumers of gift cards," said Bob Skiba executive vice president and general manager of CSVS. "Hispanics represent an exciting growth area for retailers."
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Among other findings, the survey reported that Hispanics are most likely to purchase gift cards for personal use. The company found 40% of Hispanics reported buying cards for themselves vs. 30% of Caucasians and 24% of African-Americans, the survey found.
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