"Starbucks gift cards are a holiday favorite, making them ideal stocking stuffers or thank-you gifts for teachers and neighbors alike - and they quietly bring in hundreds of millions of dollars in revenue for the company, one $5 increment at a time. The coffee giant is a top-selling brand for gift cards in the US, and #1 among quick-service restaurant and fast food brands."
""A Starbucks Card is more than a gift - it's an invitation to pause, connect, and share a moment with someone you care about or treat yourself to something you love," Tressie Lieberman, Starbucks' global chief brand officer, told Business Insider. "We're proud to be a beloved brand and honored that Starbucks Cards remain a go-to gift during the holiday season." Gift cards are big business in the retail sector."
"A recent report from the National Retail Federation found that gift cards are the second most popular gift this season, with 43% of shoppers planning to purchase at least one gift card. Total spending on gift cards is projected to reach $29 billion this year. For brands like Starbucks, Amazon, Target, and other top sellers, that means a big payday wrapped in a small package."
Starbucks gift cards are especially popular during the holidays and are positioned as convenient, small gifts that generate substantial revenue. The company reports top-selling status among gift-card brands and leads quick-service restaurant and fast food categories. Starbucks projects more than $60 million will be loaded onto new cards on December 24th alone. Gift cards rank as the second most popular holiday gift, with 43% of shoppers planning purchases and total spending forecast at $29 billion. Starbucks held $1.8 billion in unredeemed gift card balances as of September, up from $1.7 billion the prior year.
Read at Business Insider
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