Comments on: The State of the Gift Card Economy http://www.businesspundit.com/the-state-of-the-gift-card-economy/ Entrepreneurship, Startup Companies and Business Philosophy Fri, 03 Feb 2012 07:09:48 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Pam http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-31314 Pam Sat, 12 Feb 2011 19:55:45 +0000 http://www.businesspundit.com/?p=17646#comment-31314 The really important thing is for the gift card giver to keep their reciept from the card purchase. There should be recourse if they have that. I tell all my customers buying gift cards where I work to keep that reciept because if the card is lost , it's the only way to get the money back. The really important thing is for the gift card giver to keep their reciept from the card purchase. There should be recourse if they have that. I tell all my customers buying gift cards where I work to keep that reciept because if the card is lost , it’s the only way to get the money back.

]]> By: Limuzine http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-21365 Limuzine Fri, 05 Feb 2010 15:10:31 +0000 http://www.businesspundit.com/?p=17646#comment-21365 very compelling stats... good reminder to retailers very compelling stats… good reminder to retailers

]]> By: Shelley Hunter (Gift Card Girlfriend) http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-20887 Shelley Hunter (Gift Card Girlfriend) Sat, 16 Jan 2010 04:39:34 +0000 http://www.businesspundit.com/?p=17646#comment-20887 Few notes: You can always sell a gift card and get cash back for it from a variety of sites: plasticjungle.com, giftcardsagain.com to name a few. Laws have changed. In California for example, you can cash out a card that has less than $10 on it. So you don't have to spend over the amount of the card to get your money's worth. Get close to the limit and cash out. Authorization. Best thing to do is give someone the gift card receipt/authorization along with the gift card. You're not trying to hide the dollar amount spent, afterall. So give the receipt along with the card so they have proof of activation. Few notes:

You can always sell a gift card and get cash back for it from a variety of sites: plasticjungle.com, giftcardsagain.com to name a few.

Laws have changed. In California for example, you can cash out a card that has less than $10 on it. So you don’t have to spend over the amount of the card to get your money’s worth. Get close to the limit and cash out.

Authorization. Best thing to do is give someone the gift card receipt/authorization along with the gift card. You’re not trying to hide the dollar amount spent, afterall. So give the receipt along with the card so they have proof of activation.

]]> By: Scop http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-20754 Scop Mon, 11 Jan 2010 10:32:33 +0000 http://www.businesspundit.com/?p=17646#comment-20754 If you get a gift card spend it in the next week or you will forget about it. If you do not need it in the foreseeable future then give it to someone who would. If you get a gift card spend it in the next week or you will forget about it. If you do not need it in the foreseeable future then give it to someone who would.

]]> By: Seek Further http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-20627 Seek Further Wed, 06 Jan 2010 13:18:51 +0000 http://www.businesspundit.com/?p=17646#comment-20627 On cards that expire, most states require that those funds be escheated and held in abeyance for the cardholder. But, how many people follow-up? Almost none. So, it's our governments that are benefitting. For cards that don't expire, those funds have to be booked as a liability against future redemption. Only after a very long time, can the retailer book unspent funds as revenue. On cards that expire, most states require that those funds be escheated and held in abeyance for the cardholder. But, how many people follow-up? Almost none. So, it’s our governments that are benefitting.

For cards that don’t expire, those funds have to be booked as a liability against future redemption. Only after a very long time, can the retailer book unspent funds as revenue.

]]> By: Dani http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-20619 Dani Wed, 06 Jan 2010 05:00:20 +0000 http://www.businesspundit.com/?p=17646#comment-20619 2 things they didn't mention: A lot of gift cards expire after a certain amount of time. That's right, you now have bought a gift card worth... NOTHING. Also there is no recourse for when the store's computer system fails to read your card properly. Case in point: My mom got me a $100 gift card to Target. I used about $30 on one trip. On my next trip, I went to use th $70 remaining and was told that the card had never been activated -- essentially that the card had been stolen. As I knew this not to be the case, I was pretty livid, but there was absolutely nothing I could do about it. Stay away from gift cards, imo. Give cash instead. 2 things they didn’t mention: A lot of gift cards expire after a certain amount of time. That’s right, you now have bought a gift card worth… NOTHING. Also there is no recourse for when the store’s computer system fails to read your card properly. Case in point: My mom got me a $100 gift card to Target. I used about $30 on one trip. On my next trip, I went to use th $70 remaining and was told that the card had never been activated — essentially that the card had been stolen. As I knew this not to be the case, I was pretty livid, but there was absolutely nothing I could do about it. Stay away from gift cards, imo. Give cash instead.

]]> By: hahajk http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-20618 hahajk Wed, 06 Jan 2010 04:01:10 +0000 http://www.businesspundit.com/?p=17646#comment-20618 this is why shoplifting is okay this is why shoplifting is okay

]]> By: Brett http://www.businesspundit.com/the-state-of-the-gift-card-economy/comment-page-1/#comment-20613 Brett Wed, 06 Jan 2010 01:51:02 +0000 http://www.businesspundit.com/?p=17646#comment-20613 Where is the statistics on how many businesses/politicians use gift cards to hide what is essentially cash with an expiration date? Where is the statistics on how many businesses/politicians use gift cards to hide what is essentially cash with an expiration date?

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