With the 2008 worldwide holiday season kicking off amid economic uncertainty, and consumers everywhere finding themselves on strict budgets, a Western Union (NYSE:WU) survey1 found 56 percent of Americans said cash is the gift they’d most like to receive this holiday season.
In fact, those respondents indicated that they would prefer to receive $100 in cash this holiday instead of a gift card worth $100. The desire for cash is geared toward the practical this season, as nearly half said they would use cash to cover basic day-to-day expenses.
The sentiment bears out among gift givers, as 57 percent indicated they will give cash as a gift.
“While the popularity of gift cards has increased exponentially in recent years, with consumers preferring to choose exactly what they wanted from a retail store, our survey now reveals a new trend: people want more flexibility. They want the convenience of cash,” said Stewart A. Stockdale, executive vice president and president U.S. and Canada, Western Union.
“Western Union is a pioneer in providing services that move cash around the corner and around the world, and we are uniquely positioned to meet the gift giving needs of consumers this holiday season.
“Western Union has the ability to manage more than one million transactions per day, or 12 per second, in a fast and reliable manner: via the Web, over the phone or at one of our Agent locations,” added Stockdale.
This year alone, it is estimated that individual consumers around the world will send approximately $400 billion2 in cash to family and friends.
To help serve consumers’ wishes this year, Western Union is launching a new campaign, "Cash, the perfect gift." The campaign features multiple elements, all of which educate the consumer and reinforce the trend that cash is the perfect gift.
Set to launch in October, a few of the campaign’s elements will include:
- Print advertisements;
- Pop culture integration through television and radio promotions; and,
- New media elements, featuring online community areas in which consumers can share gift stories relevant to each of the major holidays and send free e-cards to connect with family and friends.
The campaign will address the various global holidays that encourage gift exchanges. These include: Eid al-Fittr, Eid al-Adha, Diwali, Hannukah, Christmas, Tet and Chinese New Year.
“A common thread among all of the celebrations is that cash is greeted with open arms,” Stockdale noted.
Western Union provides three simple options for sending or receiving the gift of cash: by calling 1-800-CALL-CASH®, logging onto WesternUnion.com or by visiting any of the more than 320,000 Western Union® Agent locations worldwide.
1 The survey, commissioned by Western Union and conducted by GfK Roper Public Affairs & Media, polled 1,004 people 18 years old and older between September 12 and September 14, 2008.
2 Source: AITE Group
About Western Union
The Western Union Company (NYSE:WU) is a leader in global money transfer services. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a combined network of more than 355,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.WesternUnion.com.
WU-G
Contacts:
Daniel Díaz, 720-332-5564
daniel.diaz@WesternUnion.com
or
Dave
Liggett, 720-332-4119
david.liggett@WesternUnion.com
