That forgotten gift card buried in your wallet is part of a staggering $15.7 billion left unused in the US last year, a silent financial phenomenon mirrored by over $21 billion in dormant balances worldwide.
Key Takeaways
- In 2023, the total value of unused gift cards in the United States was estimated at $15.7 billion
- Globally, unused gift cards amounted to over $21 billion in unused balances as of 2022
- The US gift card market size reached $167 billion in sales in 2023, with 20% remaining unused
- In 2023, 58% of US consumers received gift cards, leading to $9.1 billion unused
- Only 42% of gift cards were fully redeemed within one year in the US 2022
- UK redemption rate for gift cards averaged 65% in 2023
- 22% of unused gift cards dormant over 5 years in US 2023
- Average dormancy period for unused gift cards is 14 months US 2022
- 12% of gift cards remain unused after 3 years globally 2023
- 55% of US adults have at least one unused gift card averaging $186 value 2023
- Women receive 52% more gift cards than men annually US 2023
- Millennials hold 40% of all unused gift card balances 2023
- Unused gift card fraud losses reached $150 million in US 2023
- 24% increase in gift card draining scams reported 2023
- $1.2 billion global losses from unused gift card fraud 2022
In 2023, billions in gift cards went unused globally, often forgotten or lost.
Consumer Demographics
155% of US adults have at least one unused gift card averaging $186 value 2023
Verified2Women receive 52% more gift cards than men annually US 2023
Verified3Millennials hold 40% of all unused gift card balances 2023
Verified4Gen Z received $28 billion in gift cards in 2023 US
Directional5Boomers account for 28% of unused gift card holders 2023
Single source6Urban dwellers hold 62% of unused balances US 2023
Verified7Households earning $100k+ have avg 3 unused cards 2023
Verified8Parents with kids under 18 hold 45% more unused value 2023
Verified9College students average $92 in unused gift cards 2023
Directional1072% of 18-34 year olds received gift cards last holiday 2023
Single source11African American consumers receive 1.5x more gift cards than average 2023
Verified12Hispanic households have avg $210 unused gift cards 2023
Verified13Single adults hold 35% of unused balances vs married 2023
Verified14Retirees average 2.4 unused cards per household 2023
Directional15Full-time workers redeem faster, holding 20% less unused 2023
Single source16Southern US states have highest unused per capita $145 2023
Verified17Northeast consumers forget 18% more cards 2023
Verified1848% of pet owners received pet store gift cards unused 2023
Verified19Gamers hold $450 million in unused digital gift cards 2023
Directional20Fitness enthusiasts average $75 unused gym gift cards 2023
Single source2162% of beauty product gift cards from females remain unused 2023
Verified22Travel gift cards unused by 29% of frequent flyers 2023
Verified23Book lovers hold $120 million unused bookstore cards 2023
Verified24Foodies have 55% unused restaurant cards avg 2023
DirectionalConsumer Demographics Interpretation
While millennials and Gen Z are swimming in plastic mountains of forgotten gifts, urbanites with six-figure incomes are apparently too busy to redeem what amounts to a national savings account of idle generosity.
Dormancy Periods
122% of unused gift cards dormant over 5 years in US 2023
Verified2Average dormancy period for unused gift cards is 14 months US 2022
Verified312% of gift cards remain unused after 3 years globally 2023
Verified4UK gift cards average 18 months to dormancy 2023
Directional5Physical gift cards dormant 20% longer than digital in US 2023
Single source6Restaurant gift cards enter dormancy after avg 11 months 2023
Verified78% of holiday gift cards dormant forever per 2022 data
Verified8Corporate gift cards average 22 months dormancy globally 2023
Verified9Amazon e-gift cards dormant after 7 months avg 2023
Directional10Starbucks cards average 9 months to dormancy 2023
Single source11iTunes gift cards 6% dormant over 5 years 2022
Verified12Visa prepaid avg dormancy 16 months US 2023
Verified1325% of gift cards unused after 12 months in Brazil 2022
Verified14Japan convenience gift cards dormant 10% after 2 years 2023
Directional15Expired gift cards total $1.1 billion annually US due to dormancy
Single source1641% of unused cards lost or forgotten leading to dormancy 2023 survey
Verified17Digital wallets reduce dormancy by 15% per 2023 study
Verified18Gen Z gift cards dormant 30% less than Boomers 2023
Verified19Multi-brand gift cards dormant 18 months avg US 2023
Directional20Closed-loop cards dormant faster at 13 months vs open-loop 2023
Single source21Women hold dormant cards 10% longer than men US 2023
Verified22Rural areas see 22-month avg dormancy vs urban 12 months 2023
Verified2365% of consumers aged 55+ have dormant gift cards 2023
Verified24Low-income groups have 20% higher dormancy rates 2023
Directional25Students report 35% dormancy after 1 year 2023 survey
Single sourceDormancy Periods Interpretation
Collectively, we treat billions in gift cards like forgettable pocket change, letting them become sleeping beauties in our drawers while companies quietly profit from our negligence.
Fraud Statistics
1Unused gift card fraud losses reached $150 million in US 2023
Verified224% increase in gift card draining scams reported 2023
Verified3$1.2 billion global losses from unused gift card fraud 2022
Verified4Phishing attacks targeting gift card balances up 35% in 2023 US
Directional512% of consumers experienced gift card fraud in 2023 survey
Single source6Digital gift card fraud accounted for 68% of incidents 2023
Verified7Family/friend scams drained $45 million in gift cards 2023
Verified8Retail employee tampering cases rose 18% in 2023
Verified9Third-party marketplace fraud hit $28 million unused cards 2023
Directional10Ransomware using gift cards for payment totaled $90 million 2023
Single source11Visa gift card fraud losses $32 million in US 2023
Verified12Amazon gift card scams caused $120 million losses 2023
Verified13iTunes card fraud peaked at $85 million globally 2022
Verified14Starbucks gift card fraud incidents up 22% in 2023
Directional1541,000 gift card scam complaints to FTC in 2023
Single source16International money mule schemes used $67 million gift cards 2023
Verified17UK reported £140 million gift card fraud losses 2023
Verified18Brazil saw 25% rise in pix-gift card hybrid fraud 2023
Verified197% of unused cards linked to fraud per forensic audit 2023
Directional20AI-generated deepfake scams targeting gift cards emerged 15% cases 2023
Single source21Mobile app vulnerabilities exploited in 19% gift fraud 2023
Verified22SMS phishing for gift codes up 50% in 2023
Verified23Elderly victims over 65 lost $50 million to gift scams 2023
Verified24Gen Z reported 14% exposure to gift card fraud attempts 2023
DirectionalFraud Statistics Interpretation
The modern gift card has rapidly become criminals' favorite multi-purpose tool for fraud, proving itself the undefeated champion of separating people from their money through every imaginable digital and human vulnerability.
Market Value
1In 2023, the total value of unused gift cards in the United States was estimated at $15.7 billion
Verified2Globally, unused gift cards amounted to over $21 billion in unused balances as of 2022
Verified3The US gift card market size reached $167 billion in sales in 2023, with 20% remaining unused
Verified4In the UK, unused gift cards held £2.4 billion in value in 2023
Directional5Australia reported AUD 1.5 billion in expired and unused gift cards annually
Single source6In 2023, digital gift cards contributed $8.9 billion to unused US balances
Verified7Europe’s unused gift card market was valued at €12 billion in 2022
Verified8India’s gift card industry saw $2.3 billion in unused value in 2023
Verified9Brazil had R$4.5 billion in unused gift cards in 2022
Directional10Japan’s unused gift card balance hit ¥1.2 trillion in 2023
Single source11South Korea reported ₩3.5 trillion in dormant gift cards
Verified12In 2023, retail sector unused gift cards totaled $10.2 billion in the US
Verified13Restaurant gift cards added $2.8 billion to unused US totals in 2023
Verified14Online marketplaces contributed $1.9 billion unused in 2022
Directional15Corporate gift cards had $3.1 billion unused globally in 2023
Single source16Holiday season unused gift cards peaked at $7.4 billion post-2022 Christmas
Verified17Visa prepaid gift cards had $1.2 billion unused in US 2023
Verified18Mastercard gift card unused balances reached $900 million in 2022
Verified19Amazon gift cards contributed $4.5 billion unused in 2023
Directional20Starbucks unused gift cards totaled $1.7 billion globally in 2023
Single source21iTunes/App Store unused balances were $2.1 billion in 2022
Verified22Walmart gift cards had $800 million unused in US 2023
Verified23Target unused gift cards reached $650 million in 2023
Verified24Best Buy reported $450 million in unused gift cards 2023
Directional25Home Depot unused balances were $320 million in 2023
Single source26Lowe's had $280 million unused gift cards in 2023
Verified27Macy's unused gift cards totaled $210 million post-2022 holidays
Verified28Kohl's reported $190 million in unused balances 2023
VerifiedMarket Value Interpretation
The staggering global graveyard of forgotten gift cards, a monument to our best intentions and worst memories, now holds enough money to buy a small country but apparently not enough motivation to buy a pair of socks.
Redemption Rates
1In 2023, 58% of US consumers received gift cards, leading to $9.1 billion unused
Verified2Only 42% of gift cards were fully redeemed within one year in the US 2022
Verified3UK redemption rate for gift cards averaged 65% in 2023
Verified4Digital gift cards had 72% redemption rate vs 55% for physical in 2023 US
Directional5Restaurant gift cards redeemed at 68% rate in 2023
Single source6Retail gift cards saw 61% redemption in first 6 months post-issue 2022
Verified775% of Amazon gift cards redeemed within 3 months in 2023
Verified8Starbucks gift cards had 82% redemption rate annually in 2023
Verified9Visa gift cards redeemed 70% within 12 months US 2023
Directional10Corporate incentive gift cards at 55% redemption globally 2022
Single source11Holiday gift cards redeemed 48% by end of next year 2023 data
Verified12iTunes gift cards had 78% redemption rate in 2022
Verified13Walmart gift cards redeemed 65% fully in 2023
Verified14Target saw 62% redemption rate for 2023 gift cards
Directional15Best Buy gift cards at 59% redemption in FY2023
Single source1635% of gift cards partially redeemed, leaving average $15 balance unused US 2023
Verified17Online redemption rates hit 74% for e-gift cards in EU 2023
Verified18Brazil gift card redemption averaged 52% in 2022
Verified19Japan reported 80% redemption for convenience store gift cards 2023
Directional20Average US gift card redemption time is 9.2 months in 2023
Single source2128% of gift cards never redeemed after 3 years US data 2022
Verified22Female consumers redeemed 5% more gift cards than males in 2023 survey
Verified23Millennials redeemed 71% of received gift cards in 2023
Verified24Gen Z redemption rate was 66% for digital gift cards 2023
Directional25Boomers redeemed only 54% of physical gift cards in 2023
Single source26Urban consumers had 68% redemption vs 59% rural in US 2023
Verified27High-income households ($100k+) redeemed 73% vs 61% low-income 2023
Verified2815-24 age group redeemed 69% of gift cards received 2023
Verified29Parents redeemed 4% more gift cards than non-parents US 2023
Directional30College students had 64% redemption rate in 2023 survey
Single sourceRedemption Rates Interpretation
It seems humanity has collectively decided that receiving a gift card is not actually a gift but rather a homework assignment that 58% of us received in 2023, with a full $9.1 billion left undone.
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