GIFT CARDS

I'm not a big fan of gift cards for the holidays or birthdays. It goes back to my 'tight wad' ways (see prior blogs re: 'tightwad', if necessary). I've heard that many of them go unused...so the giver basically threw away their money. I'm not in favor of doing that.

This article supports those comments I've heard. They are apparently pushing a few new alternatives available for the use of the gift cards. You can cash them in or exchange them for others. But still, no guarantee they'll get used.

The article says that the purchase of gift cards is an $87 billion a year business. It supports my theory by saying that 10% or more of them never get used. That amounts to about $9 billion a year in unspent gift cards. Let me write it this way...$9,000,000,000.

One might ask...why aren't the cards being used? I have three theories.
1) Some of the cards are likely lost or misplaced. Maybe they'll be found someday, maybe not. If they are, it might be after an expiration date and of no value.
2) Some might be from the recipients choice. Maybe they don't like the 'store' the card is from...never been there...don't have one in the town I live...been there, don't like it, ain't goin' back.
3) Some might be because the 'receiver' of the card...does not like the 'giver' of the card...so by not using it, they feel like they are 'stickin it to em'. "Let 'em waste their money...I don't care!"

The businesses aren't the losers in this game...we are. They love it. They have the money in their cash register. If we never redeem the card...the business got money for no service rendered. Woohoo! That's the reason they have the cards at every checkout. Just like putting candy at the checkout lanes of grocery stores, they love those last second buyers who might plop down $10 for a gift card for someone they forgot to get a real gift...and then the store wins because the receiver of the card doesn't use it. What a great SCAM!

Whatever the reason the cards aren't used...there's a lot of money being thrown away each year.

I'd just as soon give real money as a gift. I'm pretty sure that won't go unused!


Dan