Gift cards surge boosts retail spending despite Black Friday competition

A surge in gift cards and vouchers is driving more customers into stores on Boxing Day, helping what has traditionally been one of the biggest sales for retailers compete with the increasing popularity of newer promotional events like the Black Friday and Cyber Monday juggernauts.

Gerry Harvey, the executive chairman of electronics and whitegoods giant Harvey Norman, said gift cards and vouchers now accounted for about one-fifth of all transactions, particularly on the other side of Christmas.

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