The US coffee giant projects nearly $3bn will be loaded on to its Starbucks gift cards in the US and Canada during the festive period this year
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Starbucks sold more than 55 million Starbucks Cards in 2021 | Photo credit: Jocelyn Allen
Starbucks is expecting to sell 58 million Starbucks gift cards during the festive period this year, with nearly $3bn projected to be loaded onto cards across the US and Canada.
The Seattle-based coffee chain expects one in six Americans and one in eight Canadians to receive a Starbucks gift card between October and December 2022, with 23 December set to be the busiest day for card purchases.
Starbucks, which has offered a gift card programme since 1994, sold more than 55 million Starbucks Cards in 2021.
“Starbucks is one of the most gifted brands in the world, and we are honoured that our customers continue to give Starbucks Cards as a meaningful gift during the holiday season. Starbucks – in so many ways – is a currency of kindness. By giving a Starbucks Card, you’re giving an experience and opportunity to connect over coffee,” said Brady Brewer, Chief Marketing Officer, Starbucks.
Citing data from the National Retail Federation, Starbucks said customers in North America are predicted to purchase up to four gift cards this year, with total spend expected to reach $28.6bn.