Did you get any gift
cards for Christmas this year? There are an estimated $110 billion in these
increasingly popular presents exchanged each year. That’s up about 10 percent from
last year.
According to the
National Retail Federation, some 81 percent of Americans said they were
planning to buy gift cards in the 2012 holiday season. The average gift-giver bought
a total of more than $150 worth of gift cards.
The bad news is that
only about 50 percent of the value on them is ever used. The upshot is that the
average American home holds an average of $300 in unredeemed gift cards, according to an estimate in the Journal of State Taxation. Between 2005 and 2011, a whopping $41 billion in gift cards went unused.
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