Gift card sales up at KB Toys
KB Toys said today it is seeing a surge in gift card sales as graduation approaches for pre-school and elementary school children.
Headquartered in Pittsfield, KB operates more than 600 stores, many of them located in big shopping malls.
"We have seen a spike in gift cards sales this spring and largely attribute that to graduation-related gift card purchases," Geoffrey Webb, KB's director of advertising and sales promotion, said in a statement.
KB noted that its findings are consistent with two recent surveys of shopping habits.
A survey from the National Retail Federation found that gift cards and cash will be the most popular graduation gifts this year, KB noted, and a study conducted by the Marketing Workshop Inc. concluded that graduation is the top gift-card giving occasion after the winter holidays and birthdays.
(By Chris Reidy, Globe staff)
