Retailers are seeing an increase in the cash value of gift cards received by Hispanics.

According to Comdata^® Stored Value Solutions (CSVS) fifth annual gift card survey, Hispanics received gift cards with the highest average value among ethnic groups at an average balance of $71, compared to $41 for Caucasians and $60 for African-Americans. The Hispanic total was a $33 increase over last year.

The study also revealed that 26 percent of Hispanics surveyed report giving gift cards to children as a budgeting tool or to use as an allowance.

Hispanics are most likely to spend more than the value on their cards, adding their own money to increase their purchasing power. 69 percent of those surveyed indicate they often or always spend more than the amount of the card, compared to 52 percent of Caucasians and 44 percent of African-Americans.