Everyone Got Them, But Over Time Our Opinions Have Changed!
I remember being so excited opening up presents as a kid, thinking, "That is for me!" I remember tearing off the wrapping paper only to find gift cards and thinking, "What is this?"
It isn’t a toy! It isn’t anything that I asked for! And what am I going to do with this?
This past week I think my kids had the same expression I had many years ago. Life has changed a little bit. According to a number of reports I heard on the radio, holiday gift card sales might be as high as $35 billion this year. Yes I said $35 billion! Holiday gift card sales will account for almost 6% of total US holiday spending this year–up 5% from a year ago–according to Stamford, Connecticut-based Archstone.
I remember giving out gift cards years ago and people would look at me and think "He took the easy way out. He couldn’t think of something to get me so he took the lazy option." I was thinking all along, "You have everything and now you can get what you want."
Amazing how times have changed. You can buy gift cards everywhere: Starbucks, Wal-Mart, Target, Barnes & Noble and of course there are American Express Gift cards. In my opinion those are the best. I can get whatever I want wherever I want it!
The other amazing statistic I heard was that 20% of all gift cards are never used! I couldn’t believe that number, so I asked a number of friends and family and sure enough, many of them have gift cards they have never used and WILL NEVER use them! The merchants are either in an area they don’t go anymore, or they are a store they never shop at or a restaurant they never eat at.
- What is your opinion of gift cards? Friend or foe?
- Did you give out any gift cards this holiday season?
- Do you have gift cards that are over a year old?
I look forward to your comments.
P.S. If you want to send me one, American Express, Sports Authority or Barnes & Noble would work out just fine for me!
February 6th, 2008 at 9:21 am
I love gift cards — especially AmEx or Visa gift cards for your same reason — I can buy anything I want. I did give out visa gift cards this holiday season. And no, I don’t have any cards over a year old. I usually use them within six months.
February 6th, 2008 at 9:25 am
I used to give gift cards to my brother because I never knew what to give him. Come to find out, he never used them, so I stopped giving them to him. I now buy him a present, which he probably also never uses. Oh well.
As a rule, I try to avoid gift cards, but some people like them, so I do give them when I am pretty sure they will get used, but I will also usually give another gift in addition to a gift card.
I used to be very bad about forgetting about gift cards. I do not currently have any that are over 1 year old, but I have in the past. I am much better about keeping up with them now and I usually use them within a couple months of receiving them.
February 6th, 2008 at 9:38 am
I have one in my purse that expired last June. I tried to call the issueing company to have it reinstated but could not get through to a human. I did not remember I had it until it was too late. My loss and the credit cards gain. Don’t you just love the personal touch?
February 6th, 2008 at 9:38 am
I do believe a gift card is the easy way out; however, i think they are a good business gift or best for people you don’t know well. In those cases it should be a visa / amex gift card and not some random store.
My poor husband received 5 barnes and noble gift cards for his birthday last year. FIVE! Granted he likes to read, but by the 3rd one he opened he was truly disappointed that no one took the time to try to buy him a gift.
I also am sitting on a ton of gift cards, Starbucks, Victoria Secret, Ann Taylor Loft, Barnes and Noble, Best Buy, Container Store, you name it. They all just rot in my wallet or in a drawer somewhere. Plus a lot of them lose their value over time which i think is ridiculous.
I also have $25 to Cheesecake Factory, also a place i would never eat and $25 to another chain restaurant. If you knew me at all you would never give me a gift certificate to a chain.
I guess I am just going to start giving the ones i don’t use out as gifts…
February 6th, 2008 at 1:52 pm
Stephanie,
Please send the gift cards to me. Even the 5 for B&N.
I
February 6th, 2008 at 1:56 pm
My grandchildren love them. I always give them as a gift, however the person giving them should do a little research and make sure the recipient likes that particular store or just go with amex or visa, they are usable any where. Me - I will take any kind.
February 7th, 2008 at 10:56 am
I think gift cards are great, especially for people you do not know personally. I tend to give ones from general retailers such as Target and Amazon.com rather than niche retailers like REI or Victoria’s Secret.
Two Tips:
1. Avoid purchasing gift cards “off the rack” at retail stores. Seems that crooks have been targeting popular cards, by copying the serial numbers on the back and waiting for those cards to be purchased. Once the gift card has left the rack, the crooks will go on-line and “loot” the card for all it is worth before the recipient has a chance to cash in their gift.
2. In the coming year you will see more gift cards given as more retailers tighten up their return policies. For instance, in March, Barnes and Noble will not allow anyone to exchange a gift without the receipt. That means if your Aunt Sally gives you the complete works of Jane Austen for your birthday, you are going to have to fess up to Aunt Sally that you really do not like Jane Austen and would prefer the Austin Powers DVD box set.
Hey Stephenie and anyone else who has any issues with gift cards, I’ll will give you $.50 on the $1 for any gift card taking up space in your drawer or wallet.
February 8th, 2008 at 12:22 pm
Hey Stef - Re-Gift those cards to a Charity, School or your MRA Chapter. (Like Kath said - send ‘em on over, I will use ‘em, and like Ed said I’ll pay you half the value too-seriously!) I give my kids’ Teachers cards to office supply stores and Target/Wal-Mart.
My kids (8 & 10) like to receive them and want to go the Stores the very next day. My 7 yr old on the other hand wants to open presents and doesn’t want Gift Cards.
My Parents, who do not need or want anything, like getting Trader Joe Gift Cards. THAT they will use.
I keep the ones I will use right away in my wallet - the others sit in my dresser knowing I will use them sooner than later. No more of letting them expire, that irks me knowing that the $ is just gone.
February 11th, 2008 at 9:51 am
I found the same thing as Magda. My parents are in their 80s and moving from a house to a villa in a senior community. They don’t need anything. They are trying to get rid of things. But they have several of their favorite restaurants that they visit frequently. So gift cards are a great solution for them.
If you are selective in finding a card that the recipient will actually use, then gift cards are a great idea.
Steve
February 11th, 2008 at 11:32 am
I love receiving gift cards…and “hesitate” sometimes about giving them…but for wanting to send something to teenagers in college, they’re a dream. I just learned on the Today show this week, there is a website where you can redeem gift cards you don’t want for CASH at http://www.swapagift.com. I just looked, it says you’ll generally get about 65% of face value.
Read the whole article on the Today site about “Putting $ 50 in your pocket” on bottom of their site under Technology on more saving tips.
February 23rd, 2008 at 8:41 am
Gift cards are great for me. I live in Florida in the winter and fly home for Christmas each year. I use to take a empty suitcase with me to put all the presents in, now all I do is stick them in my purse and no excess baggage.
My children know our favorite restaurants, and stores. I love going shopping when I get back to Florida and spend all my gift cards.
I started sending my grandchildren gift cards for their birthday, and they seem to love them, especially the teenagers.
February 24th, 2008 at 4:36 pm
I am browsing through the new Real Simple magazine, and i just learned something shocking that i thought you would be interested in.
According to Real Simple, 10% of all holiday gift cards wind up unused, devalued, or missing - or simply expire over time. this equals $8 billion in consumer loss!
According to Real Simple, there is a solution, there is a website called Leverage.com where you and trade gift cards with other consumers. You can also trade and manage frequent flier miles and rewards programs at this website.
this may be worth looking into if you have a stock pile of unused gift cards like i do. i guess i need to find them first…
February 25th, 2008 at 7:33 am
Stephenie,
Thanks for your comment. I never heard of that site. I actually have a few gift cards that I might trade. I actually know where my old gift cards are…… so maybe I am ahead of the game.
Thanks.
Merrill