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Wednesday, Nov 14
2012, 1:21 PM
The gift that keeps on giving (to retailers): The National Retail Federation reports the holiday...
The gift that keeps on giving (to retailers): The National Retail Federation reports the holiday season's hottest item this year is gift cards with an estimated $28.79B set to be spent on the category. While recipients typically like the freedom of choosing their own products with the cards, it's the retailers that get the best deal of all. Emboldened by the concept of "free money" on the cards, consumers spend an average of 1.4X the value of the card per redemption visit. Lost and unused cards are also in the mix, with companies treating the accounting for the easy profits in a myriad of ways.