Gift cards: astronomical numbers not spent in the United States

BET À DAY

Often given on special occasions, many gift cards go unused or even forgotten, so nearly two-thirds of Americans have one lying around somewhere in their business, according to a survey.

A total of around US$21 billion ($28.5 billion CAD) would be lost in gift cards, revealed a report from Credit Summit, a provider financial advice.

Gift cards are very popular gifts for holidays or special occasions, and most people love to receive them, says Rebecca Stumpf, editor at Credit Summit.

“However, many people leave them in cupboards to use for special occasions. Use 'em, don't keep 'em,” she advised

A separate study by the same research group also determined that the average amount on unused gift cards s ' was about US$175 (CAD$237.08) per person in 2022.

“I thought with high inflation people would go to town with their gift cards, but I I was surprised,” said Ted Rossman, financial analyst at CreditCards.com and Bankrate.com, in an interview with CNN.

He also indicated that some websites exist to sell or redeem gift cards. , otherwise this non-use could contribute to bankruptcies for some businesses.