This Quarter’s Key Findings
Gift cards remained a top choice in Q3. Gift card redemption shifted up slightly from last quarter, while merchandise redemption shifted down a bit. Physical gift cards remain the most popular selection, but electronic gift card redemption is growing. The popularity of gift card redemptions overall remains a win-win for both cardholders and issuers.
Also top of mind for Q3? Electronics. The five most popular merchandise redemptions happened to fall into this category. Whether it was a back-to-school purchase or an addition for an upcoming vacation, items like earbuds, tablets and smart watches were in demand.
What do these trends tell us? Rewards merchandise pages make a difference. Cardholders are willing to use their points for more than just cash back. Highlighting seasonally relevant products and experiences makes an impact.
Q3 2023 – Point Redemption Activity
Points redeemed for Gift Cards