Monday, November 17, 2008

Gift Cards

There was a warning in our newspaper this morning (or was it yesterday?) about giving gift cards this Christmas. How we should think twice before giving them as Christmas presents. How many retailers are planning on going out of business right after Christmas, with no warning, yet are selling gift cards nonetheless.

I also heard on the radio this past week that Sharper Image sold gift cards right up till the very day before they went out of business. How cruel is that?

I guess I naively thought every store would be like Mervyns...they would announce their departure months in advance.

It is estimated that shoppers could lose as much as $75 million from store and restaurant closings in 2008.

By the way, did you know that 25% of gift cards (of all stores) are never redeemed?
I learned that too.

9 comments:

darlene said...

Not in our family. Our sons redeem every penny of their gift cards. And they really, really appreciate getting such a gift. Amazon should be safe, don't you think?

Jill said...

I can't imagine Amazon not being safe. I would also think Walmart and Target would be okay, but how can we be sure? I also can't imagine people not redeeming their gift cards in years past.

Lisa said...

WoW! That is some kind of news you shared today. I will definately take caution. Love tidbits of useful information! Thanks.

Dad and Susan said...

I have given checks as gifts in the past and never once has one not been cashed. I think I'll stick with that unimaginative and coarse way of doing things. I also read the same article and wondered what's up with people not redeeming them. Man, I want to spend every little cent I can get my hands on! Whatever. Thanks for your heads-up. Love, Susan

Tom and Karen Mortensen said...

Thanks. I guess I will being going "green" this Christmas. Ha Ha

Jill said...

I take back what I said about Target in the comment above. I just read in the paper this morning that their profits are down 24% and they are going to bring their prices down in hopes of selling more in December. Perhaps Walmart will be the last leaf on the tree. Scary times.

Kathy said...

Jill, Have you checked your e-mail, because I left you a message that I have a blog now. If you didn't get it please let me know.
Kathy

Tom and Karen Mortensen said...

Thanks for the info about Target. I have 2 gift card that I bought for other people and didn't use. I will have to go there and see what I can see.

Kathy said...

Just in case you didn't get my e-mail for the second time, here's my blogspot http://kathleengauthier.blogspot.com