Lillama

Gift Card Sales Backfire: Implications for Retail Sector?

Interesting. Retailers love it when people hold on to their gift cards, because consumers often forget about them or lose them, and that certainly benefits the store. I think parents and grandparents like to give gift cards because cash can be used for drugs, alcohol, etc, so the gift card offers some control. It works well for gift-givers and businesses but not as well for consumers. I predict many of those saved cards will be lost, and while that's a shame, it's hardly a backfire for retailers.