Holiday Gift Cards to Ring Up $30 Billion in Sales, Purdue Expert Says.

Byline: Purdue University

WEST LAFAYETTE, Ind., Nov. 19 (AScribe Newswire) -- For many holiday shoppers, a merry Christmas is in the cards - gift cards.

When Christmas shopping begins in earnest the day after Thanksgiving, an estimated $30 billion will be spent on gift cards, a 10 percent increase over last year, says Richard Feinberg, a researcher with Purdue University's Retail Institute.

"We estimate that over 60 percent of gift givers will be purchasing gift cards this year," Feinberg says. "Each buyer will purchase five cards or more. Other research shows that 50 percent or more of people who expect gifts would like gift cards."

Gift …