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They may not be the most thoughtful presents in the world, but they sure are convenient. Gift cards relieve shoppers of having to find the perfect size, style, and color of any item on a shopping list. They also avoid scenarios where what the buyer views as desirable is antithetical to the receiver's outlook. Consequently, consumers spend billions on these small plastic "gifts" each year. The Purdue Retail Institute estimated that U.S. consumers purchased approximately $40 billion worth of gift cards just during the 2008 holiday season.
There are gift cards and there are gift cards
Posted by: peter_hamilton 2009-01-20 14:43:36 In reply to: Paul Korzeniowski
The legitimate anxiety about the value of gift cards issued by retailers whose financial position is precarious points directly to another significant advantage for open-system / scheme cards e.g. VISA or MasterCard. The funds are held by the issuing bank -- and here in Australia all the banks are financially strong: any default is virtually inconceivable. Of course the other advantage of open system cards is that they can be spent at 25 million outlets worldwide, rather than just at one retail chain.
Peter Hamilton
Peter Hamilton
You can also sell or exchange your unwanted gift cards at http://www.giftcardrescue.com and get between 60 - 80% of the gift card value in cash.
