Most Gift Cards Given Over The Holidays Never Get Used
So you've just received the perfect gift card for Christmas, what if I told you that there's a good chance you'll never actually use it?
Gift cards are one of the more controversial gifts for the holidays, because a lot of people view it as a cop out instead of giving a real gift. On the other hand, there are times when a gift card makes the perfect gift, because it allows the recipient to buy exactly what they want. No matter your stance on gift cards as a gift, there is one thing that is certain, there's a good chance they will never get used.
According to a study by Paytronix, more than 20% of gift cards given over the holidays never actually get used.
Think about that for a second . . . there are about a billion dollars given in gift cards every year! This year is probably way more with everyone trying to support local businesses by buying gift cards during the pandemic.
There's no real negative reason that the gift cards are not getting used, they are just easy to lose.
Try to think about the last gift card you received. Unless you have a designated place for gift cards or receipts, you probably just set it somewhere where you "wouldn't forget it." Then two weeks later, you remember that you forgot where you put the card so you wouldn't forget it.
I'm not hating on gift cards at all though, because I'm one of the people that asks for gift cards during the holidays. I think it's a perfect way to make sure that someone gets exactly what they wanted. I'm also the person that has lost numerous gift cards over the years, so maybe I should start asking for actual gifts lol.
It's not all bad news though for the gift cards, because studies show that many are actually found, and redeemed more than a year after the initial purchase date.
So are you a gift card giver when it comes time for a present?