Starbucks Expects Record Gift Card Purchases on Christmas Eve
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iStock Editorial/Thinkstock(SEATTLE) — Starbucks is anticipating a very Merry Christmas this year.
The Seattle-based coffee chain announced Wednesday it expects to sell upwards of two million gift cards on Christmas Eve alone, based on last year’s sales.
“One in every 8 American adults received a Starbucks Card last holiday season, and we’re well on track for another record performance in Starbucks Card sales, as we celebrate our 14th year of offering Starbucks Cards,” Ryan Records, vice president of Starbucks Card, said in a statement Wednesday.
Starbucks forecasts the last minute buyer frenzy, which reached 1,500 gift cards per minute in 2013, to drive part of the $4 billion consumers spent on gift card purchases in the last year.
The Starbucks Card debuted 13 years ago, with customers spending over $20 billion gifting their favorite brews in that time.
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