Gift Cards: A Business Dream Come True (IF We Let It)
Filed Under: Random Ramblings • The Business Pages
Like many folks I’ve received (and given) retail gift cards during this holiday season. They are the perfect remedy to indecision at the stores, and it gives the recipient the freedom to choose the items they want.
It’s all great, right? Well, not exactly. I was startled this morning to read this sobering fact:
“Americans lose about $8 billion annually by not redeeming gift cards”
That’s not a misprint (or should I say, a “mis-copy and paste”).
The retailers issuing these cards must be jumping for joy at this number, because it’s all pure profit. Just by taking advantage of our busy and cluttered lives, where those little pieces of plastic can get lost in a drawer and forgotten.
A capitalistic dream come true, no doubt.
But only if we, the consumers, let it happen.
So I’m going to comb every drawer and crevice for all the cards I haven’t used (and you can imagine 95% of them are Starbucks cards) and USE them. I might get terribly over-amped on caffeine but heck, I won’t be delivering windfall profits to Starbucks!
Who’s with me? Can the blogosphere band together to reduce that $8 Billion? I bet we can.
Find those cards and let’s get ‘er done! 
Et tu, Terre? 
Terry;
I must confess that I'm not much of a fan of Shakespearean work with all those art thous and haths ...
Great post! I agree that getting away from the computer really helps. I think of sitting to write at the ...
Alas, poor Starbucks. I knew him well. Fantastic Terry! The best caffeinated prose I've read in some time. 
Innovative, poetic, truthful and digg worthy!
Comment by Jesse Petersen on 22 December 2007:
That number has to be from misplaced cards or cards thought to be empty, because I’m far more apt to go to a store or restaurant with a $20 card and end up spending $25, $30, or even $50 and using the gift card as a coupon.
I love a good gift card because I receive it as a way for someone to give me what I really want (geek speaking) when they are afraid of getting something that is just a bit off track.
I pledge to use every dollar of every gift card this year!
I LOVE your new site you’ve got going on here!
Comment by Rick Cockrum on 23 December 2007:
We run into the same thing at the theatre. At least a quarter of the gift certificates we sell are never redeemed. It is terrific for the retailer, but I feel bad for both the giver and the givee. One gives a gift that is never used, and the other misses out on the pleasure they could have.
I want to chime in on congratulating you on the new site. It looks great. Here’s to joy in your new home!
Comment by Starbucker on 23 December 2007:
Hi Jesse and Rick - thanks for stopping by my (almost) new place; I officially switch over on 12/25 (my 2nd blogiversary). Now let’s keep using those gift cards! All the best to you both.
Comment by Jesse Petersen on 24 December 2007:
I got 4 more gift cards! Very timely post, Terry.
Comment by Rosa Say on 24 December 2007:
Wow Terry, was this new url an early Christmas present? Love it!
Like you, I became aware of this whole unredeemed gift card business recently and have a new resolve to use those I get (gleefully, mine have been for Starbucks so far too… our habits are pretty obvious!)
Comment by Starbucker on 25 December 2007:
Hi Rosa! Happy Holidays! Glad you like the new place (I’ve got a JJL category now, which I really wanted to do).
May you fully enjoy your Starbucks cards just like I will - a little hint; you can combine all of them into one balance if you ask the barista, then you don’t have to carry so many with you.
All the best!