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Hispanic gift card use soars According to a recent gift card survey, retailers are seeing an increase in the cash value amount and use of gift cards among Hispanics. In fact, Hispanics received gift cards with an average value of $71. By comparison, Caucasians received gift cards with an average value of $41 and African Americans $60. The Hispanic total was 33 percent higher than last year. Hispanics are also more likely than the other ethnic groups studied to spend more at the store than the value of their cards, adding their own money to increase their purchasing power. Sixty-nine percent of Hispanics said they spent more than the value of the card, 52 percent of Caucasians and 44 percent of African-Americans reported doing so. The survey results are based on 800 Internet surveys collected from Sept. 12 to 18, 2007, by Comdata Stored Value Solutions’ fifth annual gift card survey. Source: “Hispanic Gift Card Use Soars 33 Percent, According to New Comdata Study,” Nov. 5, 2007, Comdata, http://www.comdata.com
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