Survey Reveals Many Consumers Dread Holiday Shopping; Discover Card offers stress busters in gift card, Web site, double Cashback Bonus

Business Wire, Nov 25, 2004

RIVERWOODS, Ill. -- Dreading holiday shopping? You're not alone. Nearly six in ten consumers fear it to some degree, according to a new survey by Discover Financial Services, one of the largest issuers of general-purpose credit cards in the United States. For many, the task of finding the perfect gift quickly becomes an absolute hassle.

Discover Financial Services, which operates the Discover(R) Card and the Discover(R) Network for its 50 million Cardmembers, offers consumers two tools to ease the stress of holiday shopping. The Discover Gift Card, a gift with millions of options, and the Discover Card Gift Finder (www.discovercard.com/giftfinder), a free online tool that helps shoppers find the perfect present for everyone on their list.

"Gift cards and online shopping have emerged as the latest holiday shopping trends," said Margo Georgiadis, chief marketing officer and executive vice president, Discover Financial Services. "The Discover Gift Card, with its widespread acceptance and Cashback Bonus(R) award, and the convenience of our online Gift Finder, will help alleviate the stress of holiday shopping as consumers search for that perfect gift this holiday season."

The Discover Financial Services survey revealed that "finding the right gift" ranks among the biggest challenges with holiday shopping. Furthermore, 56 percent of shoppers expect at least one of their gifts will be returned. The rising popularity of gift cards indicates that many shoppers believe nothing is more personal than giving someone a choice. The Discover Gift Card is accepted at millions of merchant locations, and offers Cardmembers a Cashback Bonus award every time they purchase one, thereby benefiting both the purchaser and the recipient. The prepaid card is available in denominations of $25 to $500 and can be used for convenient in-store and online purchases. Discover Gift Card is available in nine different holiday themes and can be sent directly to the recipient along with a personal message.

The survey also found that crowds, lines and parking are a major holiday nuisance. Online shopping proves a convenient alternative, but endless online choices can make it difficult for shoppers to narrow down gift ideas. The interactive Discover Card Gift Finder (www.discovercard.com/giftfinder) shopping tool provides a more personal and convenient one-stop shopping experience by generating hundreds of gift ideas based on criteria (e.g., age, sex and interests of recipient). The site - one of the largest multi-merchant catalogs on the Web - offers suggestions from participating merchant partners. The site also features electronic greeting cards and holiday games. In addition, Cardmembers who use their Discover Card can receive special merchant offers in addition to earning Cashback Bonus awards.

Also adding to shoppers' good fortune this holiday season, Discover Cardmembers can double their Cashback Bonus award as they shop for the perfect gift at their favorite stores. From November 1, 2004 through January 31, 2005, Cardmembers can earn double Cashback Bonus award for purchases at any retailer that accepts the Discover Card at 40 participating Malls throughout the United States. For a complete listing and important information regarding the Cashback Bonus award, visit www.discovercard.com.

Discover Financial Services, a business unit of Morgan Stanley (NYSE:MWD), operates the Discover Card and the Discover Network for its more than 50 million Cardmembers. The Discover Network is the largest proprietary credit card network in the United States with more than 4 million merchant and cash access locations. For more information, visit www.discovercard.com or www.discovernetwork.com.