Whether its chip shortage chasing dragging production or new virus strains slowing textile output the supply chain glut is conundrum for many brands. Nevertheless, brands have a solution, gift cards. Estimates from Blackhawk have gift card purchases tripling 2019 figures. Major retailers are having an excellent quarter as retail sales rose 1.7%, but many smaller businesses are using electronic or online gift cards to meet the needs of customers because many clothing items and other retail items are stuck due to supply chain problems. Gift cards are starting to show long term trends with customers, as gen-z are buying gift cards at a 4% higher rate than millennials, and a survey by the NRF found that 56% of respondents want gift cards as a present.
