Unused Gift Cards Profit Retailers By $4.8 Billion
Six percent of this year's gift cards will go unused, netting retailers $4.8 billion in free money, the AP reports.
Gas and supermarket gift cards, however, have close to a 100% use rate.
What can we say? Gift cards aren't for slothful recipients. — BEN POPKEN
Retailers profit from unused gift cards [AP] (Thanks to dohtem!)
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Comments:
What an absurdly staggering number. How lazy can people get?
Well, it's probably comparable to the amount of cash stuck between the pillows of our couches.
Plus, it's amazing how many people lose these things...I've found over $200 on abandoned gift cards.
I can see how this can happen. I just shredded a pre-paid AMEX card that had under $2.00 left on it. What could I possibly do with that amount? Nothing worth the hassle of carrying the card around.
I wonder if that also includes the partially used ones, with a number of cents remaining left on the card.