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Direct Response Technologies offers Visa® Gift Card through GiftCards.com
Pittsburgh, PA | December 7, 2004
Experts agree: the most popular and fastest-growing gift this holiday season is the gift card. And a Pittsburgh company is one of the main beneficiaries of this exploding trend.
Direct Response Technologies, Inc., a Green Tree pioneer in electronic commerce, is riding the hottest trend in 2004 holiday shopping with the VISA Gift Card sold through the company's GiftCards.com web site.
According to the 19th annual edition of the respected Deloitte & Touche holiday shopping survey, 64 percent of holiday shoppers plan to buy gift cards this season. A study by the National Retail Federation, the national trade association of retailers, finds that more than half of all consumers hope to receive gift cards this year.
"On Black Friday alone, our GiftCards.com Visa Gift Card sales were up 75 percent from the same Friday after Thanksgiving in 2003," says Jason Wolfe, President and CEO of Direct Response Technologies.
The Deloitte & Touche survey found strong growth in the popularity of gift cards as well. The 64 percent of respondents planning to buy gift cards is up from 60 percent in 2003. That's double the number of those who plan to give cash as gifts. Those who plan to buy gift cards also say they will buy several: an average of 4.7 cards each, totaling more than $40 billion.
In the second annual National Retail Federation Gift Card Survey, conducted by BIGresearch, 50.2 percent of consumers say they want gift cards this holiday season, up nearly 10 percent from just two years ago.
Interestingly, experts say about 12 percent of gift cards recipients don't redeem their cards. Wolfe believes that may be because many cards can only be redeemed at specific retailers.
"When you select store or product gift cards, you need to know your recipient's taste," he explains. "A card such as the Visa Gift Card is accepted anywhere that VISA debit cards are accepted -- 22 million merchants. If you choose this kind of card, your recipient can use it on anything from movies to macaroni, at the mall or online. You don't have to guess."
"We switched to only selling our GiftCards.com Visa Gift Card in August," Wolfe adds, "and our sales have tripled. We think that the GiftCards.com Visa Gift Card provides more flexibility and value to the consumer, so we expect more growth toward cards that can be used in many places."
Visa gift cards purchased through GiftCards.com are good for a full year, and can be used repeatedly until the amount of the gift - from $25 to $500 - is spent. Unlike many other gift cards, the VISA Gift Card from GiftCards.com can be managed online at GiftCards.com, where purchasers or recipients can keep track of what theyÕve bought and the remaining balance on their card.
Experts say a gift card is much safer than cash, since if it is lost or stolen, recipients can cancel the card and order a replacement.
Wolfe says he's seeing another trend this holiday season: the increasing use of gift cards by companies, who purchase them as holiday gifts or rewards for employees.
"At GiftCards.com, our average purchase price has risen from $65 to $95," he says. "The increase is directly attributable to the expansion of our corporate center, where human resources personnel can buy and manage gift card purchases for their employees."
About Direct Response Technologies, Inc.
Direct Response Technologies, Inc. founded in 1994, is a media and technology firm dedicated to delivering performance-based results and technology solutions to clients. Direct Response Technologies is a privately held company with offices in Pittsburgh, PA, and New York NY, owned in part by Jupiter Media (NASDAQ: JUPM). The company also operates an office in North Dakota in conjunction with the Department of Commerce of North Dakota.
CONTACT:
Public Relations
Direct Response Technologies, Inc.
412-921-6881
