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Data for today’s episode is provided by Mercator Advisory Group’s Report: 2021 North American PaymentsInsights: The State of the Canadian Consumer Market-Prepaid/Gift, Credit, and Debit Cards
Top Locations Where Canadian Consumers Purchase Retailer-Specific Gift Cards:
- 56% of Canadian consumers who purchased a retailer-specific gift card did so from a retailer’s own store.
- 32% of Canadian consumers who purchased a retailer-specific gift card did so from a gift card display at another retailer.
- 27% of Canadian consumers who purchased a retailer-specific gift card did so from a retailer’s own website.
- 18% of Canadian consumers who purchased a retailer-specific gift card did so from the gift cards or codes on another retailer’s website.
- 14% of Canadian consumers who purchased a retailer-specific gift card did so from a credit card rewards site in exchange for points.
- 6% of Canadian consumers who purchased a retailer-specific gift card did so through a social media website (e.g., Facebook).
About Report
Mercator Advisory Group’s most recent report, 2021 North American PaymentsInsights: The State of the Canadian Consumer Market-Prepaid/Gift, Credit, and Debit Cards, summarizes the market for prepaid, debit, and credit cards in Canada. The report looks at consumers’ preferred way to use these payment products, how frequently they use them, and what they think about these payment options.
The report is based on the North American PaymentsInsights survey administered between August 27 and September 14, 2021. Participants included 1000 Canadian consumers ages 18 years or older. In addition to providing data on the nature of prepaid/gift, debit, and credit cards, the report digs deeper into different types within these three payment categories while looking at the rate at which certain types of these cards are widely used among the respondents in Canada.
“Through the survey data, we have seen some interesting influences of COVID on the increased use of debit cards in 2021.” stated Pragya Khanal, an analyst working on the report.
