Americans Could Be Sitting On $30 Billion Of Gift Cards

It’s important to note that these numbers come from a study completed back in 2011 by Plastic Jungle, but they are still shocking and impressive. Gift cards can be for nearly anything these days. Whether you want some new tools, or books, or some help with the check book the next time you go out, there’s a gift card for it.


But not all gift cards get used. Whether inappropriately given, lost, or forgotten, the total worth of unredeemed gift cards is a staggering $30 billion that Americans are just sitting on. That amounts to about $300 per household. This is where companies like Plastic Jungle and CardCash come in. They buy and sell unwanted gift cards.


And while some may view gift cards as impersonal, they can be vital parts of economic success. Studies have shown that when gift cards are used, it often results in more money being spent at a store, and usually for higher end and more expensive items.


With billions upon billions of dollars at stake, it’s no real surprise that more and more retailers and companies of all stripes are teaming up with gift card redeemers like CardCash to try and reclaim some dead money. It looks like they will evolve over time and Americans will continue to buy – and not use – gift cards for many years to come, so hopefully we can find the right gift cards for the right people.

[Source: Youtube]

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