ANCHOR LEAD IN:
Source: Deloitte and Touche
WHAT'S THE HOTTEST GIFT AROUND? GIFT CARDS ARE A GREAT WAY TO AVOID THOSE UNFORTUNATE PRESENTS FROM GREAT AUNT TILLIE, BUT THEY'VE ALWAYS HAD A DOWNSIDE: FEES AND EXPIRATION DATES! BUT AS ______________ TELLS US, THAT'S BECOMING A THING OF THE PAST.

TRACK ONE Length: 04
ABBEY GRANT AND HER FAMILY LOVE TO GET AND GIVE GIFT CARDS…

SOT
KEY @ : 09 Abbey Grant, Likes to purchase gift cards
"If you know the sort of thing someone likes to eat or where they like to shop, when they open it up…the big smile on their face."

TRACK TWO Length: 05
Source: American Express Gift Card Survey
ABOUT THREE OUT OF FIVE AMERICANS ARE EXPECTED TO GIVE A GIFT CARD THIS YEAR. AND THAT NUMBER KEEPS GROWING…

SOT
KEY @ : 18 Professor Dan Horne, Providence College
"We're looking at probably 65 to 70 billion dollars a year is spent on gift cards."

TRACK THREE Length: 12
THE MAJORITY OF THESE CARDS ARE WHAT'S CALLED 'CLOSED LOOP' CARDS. THAT MEANS THEY CAN BE USED AT ONE STORE OR CHAIN. FOR A LONG TIME, THESE CARDS HAD EXPIRATION DATES OR TACKED ON FEES…NOT ANYMORE…

SOT
NO KEY
" Nine out of the top ten top retailers, maybe 19 out of the top 20 don't put a fee or expiration dates on the cards."

TRACK FOUR Length:11
PROFESSOR DAN HORNE HAS BEEN STUDYING GIFT CARDS FOR MORE THAN A DECADE. HE SAYS THAT ALMOST ALL OF THE TOP RETAILERS HAVE DROPPED THESE PRACTICES IN FAVOR OF A 'KINDER, GENTLER' RELATIONSHIP WITH BUYERS…

SOT
NO KEY
"What they realized was they were alienating the customers."

TRACK FIVE Length: 17
HORNE SAYS DUMPING THE CHARGES IS A SMART MOVE. CUSTOMERS TYPICALLY OVERSPEND THE AMOUNT ON THEIR GIFT CARD. YOU DO STILL HAVE TO READ THE FINE PRINT - ESPECIALLY WHEN IT COMES TO OPEN-LOOP GIFT CARDS…. THOSE ARE THE ONES THAT WORK IN MANY DIFFERENT STORES, SUCH AS A MALL CARD OR ONE THAT'S BRANDED BY A CREDIT CARD ISSUER.

SOT
KEY @ : 1:16 Professor Dan Horne, Providence College
"On the back end there might be some fees. There might be a fee for not using it in a certain period of time, and there's almost certainly an expiration date."

TRACK SIX Length: 07
OF COURSE, YOU CAN ALWAYS THINK OF THESE LITTLE FEES AS PAYMENT FOR THE ADDED CONVENIENCE…BECAUSE THAT'S ONE OF THE MAJOR SELLING POINTS OF ALL GIFT CARDS…

SOT
NO KEY
"I really like to get them for teachers and particularly friends that are hard to purchase for. "

ANCHOR TAG:
LOSING THE CHARGES FOR CLOSED-LOOP CARDS IS MANDATED IN SEVERAL PLACES. NEARLY 20 STATES HAVE PASSED LEGISLATION ELIMINATING CLOSED-LOOP EXPIRATION DATES AND FEES. ONE OTHER THING TO NOTE - NOW THAT WE LIVE IN AN E-RETAIL WORLD, MAKE SURE THAT THE CARD YOU GIVE CAN BE USED IN THE REAL WORLD. SOME GIFT CARDS ARE ONLY VALID ONLINE.

SOURCE INFORMATION:
FOR CLIENT-STATION USE ONLY
The information provided below is for client-station use only. It is provided to help you obtain answers to any additional questions you may have and to help you localize a story. This private contact information, including phone numbers, addresses and email addresses, cannot be given to viewers nor posted on your Website. It is for internal station use only. Any exceptions to this will be clearly noted. Thank you.

Daniel Horne
Providence College
401-865-2722
dhorne@providence.edu

Americans are preparing for the holiday season -- the busiest spending season of the year -- and they are expected to spend $457.4 billion, according to the National Retailer Federation. For years, apparel has been the No. 1 holiday gift. This year, according to the 2006 American Express Gift Card survey, 66 percent of shoppers plan to give a gift card this year, compared with 57 percent last year. (Apparel-givers are holding steady at 68 percent.) Another holiday survey by Deloitte & Touche showed that consumers are buying more gift cards, 4.6 cards per person compared with 3.9 last year.
From: third annual Bankrate.com Gift Card Study. www.bankrate.com