‘Tis the season and for many, gift cards are the present of choice. In theory, they’re a great gift: it’s something to open, no returns are required, and they allow people to pick out something they like.
But in reality, the one who receives the biggest gift is the store that sells them. That’s because over $15 billion in gift cards are unused! A Bankrate.com poll showed that 51% of US adults have gift cards that they have lost, expired, or just failed to use. While it’s tempting to give gift cards for the hard-to-buy-for younger people on your list, with each younger generation, the unused rate increases, to 58% for Millennials and 68% for Gen Z.
So, this holiday season, think twice before you revert to the little plastic present. Go retro and consider cash instead. It’ll be a novelty for younger folks to use real money instead of a card or app!
