47% Spend More Than The Gift Card's Value

[jeffrey]

Eight out of 10 people (82%) either gave or received a gift card this past holiday season according to a new survey by Accenture with two-thirds (66%) revealing that they both gave and received gift cards. 81% indicated that they have already used their gift cards.

For those that have used their gift cards, over half (55%) said they used the gift cards to purchase something they would not normally buy for themselves. In addition, when gift card holders redeemed a card, almost half (47%) ended up spending more than the value of the gift card.




Other findings from the survey:

73%of respondents said they gave between one and six cards this holiday season with 91% going to a store to purchase a gift card.

Almost one in five (19%) said they spent more on a gift card than they would spend on a gift.

Close to half (49%) of respondents bought gift cards because they didn’t know what to purchase or because it was more convenient than buying a gift.

85% of respondents purchased gift cards between $1 and $50. 12% spent between $51 and $100 and 3% spent more than $100 on individual gift cards.

[PrincessPerky]

Yeah thats why I sometimes don't like them (not that I hate them, just sometimes....) I always spend more than the value, which if it is something I want to do then the card helps reduce the cost of a planned splurge, but if not.... it is just an excuse to spend money.

[Ima saver]

I don't like them either, except for my favorite restaurant. I got one over a year ago for a framing place. I have no use for it!!

[PrincessPerky]

framing place eh? you sell it? I want to frame a print for DHs birthday

[nanamom]

My MIL gave me a gift card so I could pick out my own shop vac. We spent it on a unit to store blocks in in DS#2's room and a rug to run cars on for his room. He loves it and I don't miss the shop vac. We actually didn't use the entire amount and I refuse to go back to the store just to find something to spend it on because I am afraid we would spend more than what is left on it!

[Ima saver]

Sure I will sell it, but you don't live here!! I will make you a deal on it!

[PrincessPerky]

I bet it is local , but you prolly could sell it on ebay to someone who lives around you, or try craigs list.

[Ima saver]

It is local and I don't do ebay or ever hear of craigs list. But if you are ever in my town!! Actually you are not that far away. I live 20 miles from Murphy., N.C.

[Fern]

I recieved gift cards for Dunkin Donuts and Starbucks. I haven't used them much yet, but i really like the idea of having these both in my wallet so that if i have to be on the road, shopping or whatever, i can always treat myself to a tea and a muffin.

one of life's little luxuries that i wouldn't ordinarily buy, i'd wait til i got home.

[markio26]

yep, that would be us... we purchase discounted gc 's and always spend more than
the value.. but, it is usually with a deal.. like going thru cash back sites, using 10% or more off coupons, free shipping, using a gc for the purchase and cashback on ou
credit card.
we did overspend on our sons wranglers from target, thru amazon, but, got free
shipping... and we had to pay full price for lunch at denney's, for brother's
unexpected drop by early birthday meal....