LAS VEGAS (KLAS) — Starbucks projects nearly $3 billion will be loaded onto its gift cards this holiday season.
As Christmas draws nearer and shoppers search for last-minute gifts, the company expects its busiest gift card-buying day to be Wednesday, Dec. 23. Gift cards rank as the second most popular gift of the season, and according to the National Retail Federation, 46% of consumers plan to buy gift cards as part of their holiday shopping lists.
National gift card sales are expected to total $28.1 billion by the end of the season, with buyers spending an average of $48.92 per card.
Last year, more than 46 million physical and digital Starbucks gift cards were purchased in the U.S and Canada.