Starbucks expects to beat record for holiday gift card sales
Last Christmas Eve, Starbucks Corp. sold nearly 2.5 million gift cards in the U.S. and Canada, or about 1,700 cards per minute.
This year, the company expects to beat that record.
The Seattle-based operator said Tuesday that it anticipates record purchases of Starbucks gift cards on Dec. 24, as consumers hunt for last-minute gifts.
One in seven American adults received a Starbucks card last year, and the company is on track for another record performance, Starbucks said.
Since the Starbucks card debuted 15 years ago, more than $25 billion has been loaded onto them in the U.S. and Canada, including $5.1 billion within September-ended fiscal 2015 and $1.6 billion within the three-month period of October through December in 2014, that included last year’s holiday. More than one-third of all transactions in the U.S. and Canada are paid for with a Starbucks card, the company said.
Read entire article at Nation's Restaurant News.
Written by Llisa Jennings, Dec 22, 2015
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