Gift cards have been advertised and praised as incredibly convenient for so long that we have forgotten that there are better, more personal, options that are just as convenient. However, gift cards often go unused. Here are some interesting facts to consider before you reach for the "plastic gift" this holiday season:
- Fifty-five percent of gift card recipients need more than one trip to deplete the value of their card - consumers view this as a big hassle!
- Forty percent of adults received at least one gift card last holiday season and had not redeemed it by March. That's money in the bank for retailers — and money doing nothing for consumers.
- More than a third of the people surveyed said they either forgot about their cards, lost them, or the cards had expired, yikes!
- Another third said they couldn't find anything they wanted to spend their gift card on.
- Almost sixty percent said they didn't have the time to shop.
- Besides letting gift cards gather dust or losing them, consumers can be left with worthless plastic if the issuing retailer goes out of business. That's happened more than a few times this past year!