Gift Cards: The Best And Worst

on 01/12/10 at 11:47 am

Booze News

Some national chains bend over backward to make redemption easy, while others pile on fees and restrictions.

What to give for Christmas when you don’t have time to shop? Gift cards, of course. In recent years cards have become one of the season’s most popular items, perfect for busy shoppers who want to avoid putting much thought into a gift, and good for receivers who like the flexibility to get what they want.

Retailers love them too. Cards get lost, some get forgotten and sit around for months or years. And those unused gift cards represent free money for stores. Consumer Reports has estimated that a quarter of all gift cards go unredeemed for a year after purchase, and about 7% never get used at all. It adds up to an estimated $8 billion bounty annually for the retail industry.

{Full story via Forbes}

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