Monday, November 5, 2007

Record sales of gift cards predicted

Press Release excerpts:

New technology for retail management of gift card programs through retail point of sale systems drive growth ahead of holiday season.
According to a National Retail Federation survey, gift cards have become the number one selling item at retail stores. With the adaptation of new technology for online management through POS retail system, rates of acceptance of integrated gift card program has skyrocketed.

The National Retail Federation reported that this year’s holiday gift card sales will reach record-high sales to $35 billion, continuing year over year at over 50% sales growth since gift card programs first rolled out in 2004 and 2005.

Retail chains also have made a big effort to upgrade to more sophisticated software such as Retail Pro at the point of sale to process gift cards. Retail Pro is a highly sophisticated point of sale software that includes the capability to integrate gift card programs.