Gift cards seem like a perfect solution to the problem of what to give this holiday season. Gift cards are easy to sell and wrap and are offered by shopping malls, retailers, airlines, restaurants, and hotels.
I have come up with a list of reasons why you should not spend money on a gift card this holiday season.
People get stuck with these useless cards. Friends make assumptions where there other friends shop. It is terrible to get a $25 gift card for a store that sells little at that price. I once received a $50 gift card at an expensive mens shop in Victoria, BC where I live. It was a great gesture but the problem is that everything in the store is over that price. Honestly, a pair of socks goes for $30!
People have so many loyalty cards, especially in Canada, so adding another card is overwhelming. For myself it causes stress with figuring out what to purchase at this store with this valuable gift card I have sitting in my wallet!
Finally, this quote blew me away. “We figure roughly in the neighbourhood of $30 billion in cards is sitting around in people’s sock drawers (in the U.S.),” says Kristin Donelson, VP of Marketing with popular American gift card swap site Plastic Jungle (plasticjungle.com)”. Come on people, lets stop this madness of buying useless gift cards!
I strongly believe that gift cards are a waste of a gift, unless the person redeems it for something they were intending on purchasing you might as well consider it a donation to The Gap or The Spaghetti Factory.
Thanks for including us in the Canadian Finance Carnival #14
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