- advertisement -
 
Bankrate.com
News & Advice Compare Rates Calculators
Rate Alerts  |  Glossary  |  Help
Mortgage Home
Equity
Auto CDs &
Investments
Retirement Checking &
Savings
Credit
Cards
Debt
Management
College
Finance
Taxes Personal
Finance
Exclusive   Gift Card Study 2007
  STATISTIC: Gift cards are more customized than ever before. American  
  Express now offers nine different cards; Best Buy, 15.  
   
   
Trends in gift cards

Gift card trends: Gift cards are everywhere
Page | 1 | 2 | 3 |
 

Plastic meets the great outdoors
One type of business that has effectively implemented gift cards is state and national parks. A number of state parks now offer gift cards that can be used for campground fees, accommodations in lodges, concessions or park admission. Even national parks such as Yosemite and Glacier National Park offer gift certificates that can be purchased online.

"We've been doing gift certificates for about seven years," says Patrice "Sissie" Summers, a spokeswoman for West Virginia State Parks & Forests. "The gift certificates had a two-year limit on them. Then the West Virginia legislature changed the law, so that gift cards can't expire." West Virginia State Parks & Forests has been selling gift cards for three years, and expects to take in nearly $100,000 this year.

With gift certificates, the parks could not reissue a certificate for the unused portion of the total value, leading to frustration for the certificate holder and the state, Summers explains. "Now we can go to the virtual terminal to check balance, add value and track cards when the holder has the card number available." Switching to gift cards reduced "confusion for our staff accepting the card use -- and the biggie -- cardholders could spend every last penny of value on the card."

"We sell most of our cards via the Internet," says Summers, and the state sells many more gift cards than they do certificates.

In addition to West Virginia, the states that sell parks gift cards are Ohio State Parks, Alabama State Parks (purchase in parks or via toll-free number), and the New York State Parks' golf gift card.

The "Unbridled Spirit" gift card sold through the Kentucky State Parks can be used at multiple places in the state, including historical sites, Kentucky Horse Park, the Kentucky Artisan Center and, of course, the state parks.

"We knew that gift cards were growing in popularity and we wanted to tap into that market," says Chris Gilligan, a spokesman for Kentucky Commerce Cabinet, which oversees the various organizations where the card can be used. Introduced in fall 2006, the multiagency gift card did $556,000 in sales during its first year, a 35 percent increase over the previous year when a state parks-only gift certificate was sold. "We are the first state to have a statewide gift card, and it's good to be ahead of the curve," Gilligan says, adding that Kentucky is considering expanding the use of the gift card in the state, but "right now we're going to walk before we run." The Unbridled Spirit card has no fees and never expires.

Massachusetts offers a "ParksPass" gift card through its Department of Conservation and Recreation that pays for annual admission and parking for all its parks except certain beaches.

Many other state parks offer gift certificates for use in their parks.

-- Posted: Nov. 12, 2007
Page | 1 | 2 | 3 |

TABLE OF CONTENTS
 
 
 
 
 
- advertisement -
- advertisement -
- advertisement -
About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2013 Bankrate, Inc., All Rights Reserved, Terms of Use.