AMERICANS WILL SPEND LESS ON GIFT CARDS THIS HOLIDAY SEASON

For a second year in a row, American consumers are visiting gift card kiosks less frequently. According to a survey by the National Retail Federation, or NRF, holiday shoppers plan to spend less on gift cards. Among respondents, the average person plans to spend one-hundred-39 dollars and 91 cents compared to one-hundred-47 dollars and 33 cents in 2008. The NRF survey also revealed that cards will carry lower values in 2009. The average retail value per card is expected to be 39 dollars and 80 cents compared to 40 dollars and 54 cents in 2008. Like last year, 77 percent of people surveyed said that they'd purchase at least one card this season. Total spending on gift cards is expected to exceed 23-billion-dollars.