Consumers lose $3 billion a year in unspent gift cards investinyou (In partnership with acorns.)
are usually spent within the first year from the date of purchase. But if you're one of those who has sat on a gift card for longer than 12 months, you're not alone.goes unused every year. That adds up to between $2 billion and $4 billion — just in the U.S., according to Mercator Advisory Group.That's a lot of money," said Erin Wood, chair of the Retail Gift Card Association.
A 2009 federal consumer protection law stipulated that most gift cards cannot expire within five years from the date they were activated and placed limits on inactivity fees. And for consumers who prefer having cash on hand instead of shopping, online sites like Cardpool and Raise sell unwanted gift cards. The resale value generally ranges from below 70% to more than 90% depending on the popularity of the card.Leftover money in the gift card industry is called breakage.
Companies use a complex set of guidelines set by the Federal Accounting Standards Board to determine what amount of breakage a company can claim as revenue. If a store like Home Depot sells $1,000 worth of gift cards and a customer redeems $900, after a certain amount of time, the store can claim a portion of the remaining money as breakage revenue, experts say.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Invite-Only Zoom Party Quarantunes Goes Live From the Hollywood Bowl with Seal, Billie EilishQuarantunes — created by WME partner Richard Weitz and his 17-year-old daughter, Demi — has raised $3 million in coronavirus relief so far
Weiterlesen »
Kobe Bryant Lakers Ring He Gifted Mom Sells for $206,000!!!The 14k gold and diamond ring Kobe Bryant gifted his mom 20 years ago has just sold ... and it brought in more than $206k!!!!
Weiterlesen »
Father's Day Gift Guide 2020: 12 Great Gifts to Order OnlineEven if you’re socially distancing this year, these Father’s Day gifts can be ordered online and shipped to dad in time for his big day
Weiterlesen »
How low budget horror movie 'The Wretched' became America's #1 filmThe supernatural shocker expanded to 45 drive-ins this weekend.
Weiterlesen »
Human activity threatens billions of years of evolutionary history, researchers warnHuman activity could drive extinction and destroy billions of years of evolutionary history, which has produced remarkable creatures such as the punk-haired Mary River turtle, the yellow-eyed Aye Aye lemur and the Chinese crocodile, researchers warn.
Weiterlesen »
The most 'Billions'-y things that happened on the newest 'Billions'Secret alliances! Complaints about the 'snowflake' generation! 'Billions' remains 'Billions'
Weiterlesen »