This is a perfect example of the old adage, we lose on every gift card sold but we make it up in the long run.
Imagine,
Customer buys $100 gift card
Customer gifts gift card.
Recipient buys $89.99 worth of stuff
Recipient never returns to reclaim $10.01
Gift card expires
Company writes value of unused gift card off their books as profit.
There is a reason gift cards are popular, it’s a money making machine. There’s probably a stat out there but from memory 30% of the value of gift cards goes unclaimed.
This is a perfect example of the old adage, we lose on every gift card sold but we make it up in the long run.
Imagine,
Customer buys $100 gift card
Customer gifts gift card.
Recipient buys $89.99 worth of stuff
Recipient never returns to reclaim $10.01
Gift card expires
Company writes value of unused gift card off their books as profit.
There is a reason gift cards are popular, it’s a money making machine. There’s probably a stat out there but from memory 30% of the value of gift cards goes unclaimed.