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Great post. It's funny because I work for a company that manages and tracks gift cards, and we totally see the folly in gift cards. However, it is impossible to stop the sale of gift cards. Consumers want it, and they absolutely love it. Personally? I think cash is better, however, gift card has become the most popular gift during the holiday seasons. We blog about gift card issues on savvywallet.com. We ALWAYS encourage our readers and users to spend their cards ASAP. Remember the Sharper Image debacle? where they decided to void their cards? They are currently accepting them, but now customers have to spend twice the amount in order to redeem them. In addition, companies that are hanging by the thread are holding millions in gift cards. A study was taken last year: $100B was spent in gift cards, and $8B was lost/unclaimed!
By Austin Chu
