What Does It Really Mean When You Give a Gift Card?

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Gift cards seem to be more popular among gift givers than receivers. Many consider gift cards to be impersonal gifts that give the impression that the gift giver is lazy. There are also reservations about giving gift cards that might accumulate fees, decrease in value, or expire too soon. Each year, up to $3 billion worth of gift cards go unused, according to the Mercator Advisory Group.  In a survey conducted by Consumer Reports, determined that 25% of gift cards given were never used, 58% of those surveyed said they did not use their gift cards because they didn't have time to go to the store, 35% said they couldn’t find anything to buy, and 32% said they either lost the gift card or forgot they had it. Besides the fact that gift cards are easily lost and seem to be impersonal, many retailers go out of business before the card is used.

                                                               

What Does It Really Mean When You Give a Gift Card

For most, getting a gift card comes across like you don’t care, and are gonna place the most minimal effort toward things. It’s basically the equivalent of an “obligation” to buy a gift. They can be viewed as insinere and limited.

Disadvantages of Gift Cards

-After purchases are made with a gift card, there may be a small amount of money left, which if not used, whether due to forgetfulness, ends up as money wasted. Or gift cards can force the recipient to spend money on his own gift!

-Losing a gift card or having it stolen can be a headache, especially if you have failed to register it or keep the gift card number. Some vendors do not provide card registration services or a possibility to restore access to card balances. 

-They have fees. Some gift cards — especially those issued by banks — carry fees for various events. Some even charge to use the card. 

-Store-specific. In the case of closed-loop cards and an ill gift-giver’s choice of a retailer, customers may feel forced to shop in a specified location. Lack of options makes such presents undesirable.

-Most people say they don't want gift cards. It's also likely that your gift card isn't appreciated: only 27% of Americans said they would like to receive one this holiday, according to recent data from Bankrate.com. Most people said they would prefer a tangible gift instead. 

                                                   

                                                        

 

There are now exchange websites that take unwanted gift cards and exchange them for cash. You can turn an unwanted gift into money to spend on something else. One of the drawbacks of using these sites is the fee usually charged to do the exchange, as well as the fact you won’t get the full value of the gift card in cash, but it’s better than the gift card not being used! Most sites offer between 80-85% of the value of the gift card, so if you know you’re not going to make use of the card at all, then it’s still a good return.

 

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