Starbucks Cards setting Xmas records

Starbucks is expecting an utterly nutso Christmas Eve.

With consumers increasingly pushing gift card purchases later and later, the nation's coffee kingpin said on Wednesday that it expects to set a record for Starbucks Card purchases on Dec. 24. The chain expects it will easily top the more than 2 million Starbucks — or 1,500 gift cards per minute — that were purchased at its stores in the U.S. and Canada last Christmas Eve.

"We're well on track for another record performance," says Ryan Records, vice president of Starbucks Card.

For Starbucks, the Starbucks Card has emerged in recent years as one of its most profitable items and most valuable PR assets. Since Starbucks Cards launched 13 years ago, more than $20 billion has been loaded onto them in just the U.S. and Canada. In the past year, alone, $4 billion has been loaded onto the cards. And, increasingly, the chain has emerged as a last-minute holiday shopping stop for folks in search of gift cards.

The trend is right in line with evolving consumer shopping habits. Eight in 10 shoppers will purchase a gift card this holiday season, reports the National Retail Federation. This marks the eighth consecutive year that gift cards have topped consumer wish lists.

But Starbucks keeps adding merchandising fuel to the fire. This year, it's offering more than 100 different gift card designs, including one for Hanukkah.

The company also stoked Starbucks Card interest earlier in the holiday shopping season by promoting a "Starbucks For Life contest," with 10 customers who will eventually win one free food or beverage item from participating Starbucks stores every day for the next 30 years. Starbucks estimates that value at $54,000 per winner.

Each winner will receive the Ultimate Starbucks Card, which is made of 10K hammered gold and engraved with each winner's name. "A lifetime is a long time to enjoy" appears on the back of the card, which arrives in a wooden box, handcrafted by a local artisan. Estimated value of each card: $5,000.

So far, there have been two winners.