Gift cards are a popular gift choice for many occasions, but unfortunately they often go unused. According to research from the US and UK, approximately $3 billion worth of gift cards go unused every year in the United States alone. Around 51% of consumers have at least one unused gift card or store credit with an average value of $116 per person. In addition, nearly 2 billion pounds ($2.7 billion) worth of gift cards went unspent in the UK between 2015 and 2020 while 46% of consumers forget to use their gifts altogether.
In 2021, it is estimated that over $15 billion dollars will be left on expired or forgotten about gift cards worldwide – 3% going unredeemed each year in America alone according to Mercator Advisory Group’s report on consumer trends related to prepaid products such as these types of payment methods . 10 percent lost theirs completely back in 2016 while 4 percent threw away at least one last year according to Money Magazine’s survey results published online . Australians leave AUD 70 million ($51 million) annually , 25 % still haven’t used them after a full 12 months , 32 % waited longer than 1 yr before using them & 50+ % let them expire all together during 2018 based upon CreditDonkey’s findings reported by Fortune magazine . Finally Fox Business reports that U S citizens possess around 116$ apiece whereas The Guardian states Britons lose out 45£ (60$ ) each due mainly because people simply forget about their purchases made via plastic money which was valued @ 167Bn globally back 2014 when Market Watch ran its story regarding this issue & New York Times wrote up similar article 6 years prior citing 2 5 Bn wasted then .. All-in-all there is no denying how much potential wealth goes untapped yearly through mismanagement/forgetfulness concerning our beloved preloaded debit instruments .
Unused Gift Card Statistics Overview
Nearly 2 billion pounds ($2.7 billion) worth of gift cards went unused in the UK from 2015 to 2020.
This statistic is a stark reminder of the sheer amount of money that has gone to waste due to unused gift cards in the UK over the past five years. It highlights the need for consumers to be more mindful of their purchases and to ensure that they are using their gift cards before they expire. It also serves as a warning to businesses to be more aware of the potential for unused gift cards and to take steps to reduce the amount of money that is lost due to them.
46% of consumers forget to use their gift cards.
This statistic is a stark reminder of the prevalence of unused gift cards. It highlights the fact that a significant portion of consumers are not taking advantage of the gift cards they receive, which can be a major financial loss for both the consumer and the business. This statistic is an important factor to consider when discussing the issue of unused gift cards and the potential solutions to this problem.
3% of gift card value in the US goes unused each year.
This statistic is a stark reminder of the amount of money that goes to waste each year due to unused gift cards. It highlights the importance of being mindful when purchasing gift cards and ensuring that they are used in a timely manner. It also serves as a reminder to businesses to ensure that their gift cards are easy to use and that customers are aware of the expiration dates. This statistic is a powerful reminder of the importance of being mindful when it comes to gift cards.
In 2021, the unused gift card market was valued at $15.6 billion.
This statistic is a testament to the sheer magnitude of the unused gift card market. It serves as a reminder of the sheer amount of money that is left unspent each year, and the potential for businesses to capitalize on this untapped resource. It is a powerful indicator of the potential for businesses to benefit from the unused gift card market, and a reminder of the importance of understanding and utilizing this market.
10% of consumers lost their unused gift cards in 2016.
This statistic is a stark reminder of the importance of using gift cards in a timely manner. It highlights the fact that, if left unused, gift cards can easily be forgotten or misplaced, resulting in a loss of potential value. This is especially pertinent in the context of a blog post about Unused Gift Card Statistics, as it serves to emphasize the need for consumers to be mindful of their gift cards and use them before they expire.
Approximately 6% of gift cards are never used, according to a 2007 Consumer Reports survey.
This statistic is a telling indication of the prevalence of unused gift cards in the marketplace. It highlights the fact that a significant portion of gift cards are not being used, which can have a negative impact on both the giver and the recipient. This statistic is important to consider when discussing the issue of unused gift cards, as it provides a tangible example of the scope of the problem.
In Australia, an estimated AUD 70 million ($51 million) worth of gift cards go unused each year.
This statistic is a stark reminder of the sheer amount of money that goes to waste each year due to unused gift cards. It highlights the need for consumers to be more mindful of their gift card purchases and to ensure that they are used before they expire. It also serves as a warning to businesses to be more aware of the potential for unused gift cards and to take steps to reduce the amount of money lost due to them.
About 25% of gift card recipients still have not used their gift cards one year after receiving them.
This statistic is a telling indication of how many people are not taking advantage of the gift cards they receive. It speaks to the prevalence of unused gift cards, and serves as a reminder to those who receive them to make sure they use them in a timely manner. It also serves as a warning to those who give gift cards, as it suggests that a quarter of the cards they give may not be used.
Gift card purchases climbed to $167 billion in 2014, with an estimated $750 million going unused.
This statistic is a telling indication of the magnitude of the issue of unused gift cards. It reveals that despite the immense popularity of gift cards, a significant portion of them are not being used. This highlights the need for further research into the causes of this phenomenon and potential solutions to ensure that gift cards are not wasted.
29% of US consumers said they had received gift cards but forgot to use them.
This statistic is a telling reminder of the prevalence of unused gift cards in the US. It highlights the fact that a significant portion of consumers are not taking advantage of the gift cards they receive, which can be a costly mistake. This statistic is important to consider when discussing the issue of unused gift cards, as it provides insight into the scope of the problem.
In 2017, U.S. retailers pocketed $3.5 billion in unused gift card breakage.
This statistic is a stark reminder of the sheer amount of money that U.S. retailers are able to make from unused gift cards. It highlights the importance of understanding the terms and conditions of gift cards, as well as the need to use them before they expire. It also serves as a warning to consumers to be mindful of their gift card purchases and to use them in a timely manner.
32% of consumers have waited longer than a year to use a gift card.
This statistic is a telling indication of how many consumers are not taking advantage of the gift cards they have been given. It speaks to the prevalence of unused gift cards, and the potential for businesses to capitalize on this trend. It also serves as a reminder to consumers to use their gift cards in a timely manner, as they may be missing out on potential savings.
In 2019, Canadians left over CAD 1 billion ($787 million) in unused gift cards.
This statistic is a stark reminder of the sheer amount of money that Canadians are leaving on the table by not using their gift cards. It is a staggering amount of money that could have been put to better use, and it serves as a wake-up call to Canadians to be more mindful of their gift cards and to make sure they are using them.
According to a 2014 survey, 4% of respondents said they threw away at least one unused gift card in the past year.
This statistic is a telling indication of the prevalence of unused gift cards in our society. It shows that even though gift cards are a popular gift choice, a significant portion of them are not being used. This statistic is important to consider when discussing the issue of unused gift cards, as it provides insight into the magnitude of the problem.
More than 50% of Americans have let a gift card expire in 2018.
This statistic is a telling indication of how many Americans are missing out on the value of their gift cards. It highlights the importance of understanding the terms and conditions of gift cards, as well as the need to use them before they expire. It also serves as a reminder to gift-givers to be mindful of the expiration dates of the cards they give.
In 2010, U.S. consumers left $2.5 billion in gift cards unspent.
This statistic is a stark reminder of the sheer amount of money that goes to waste when gift cards are not used. It highlights the importance of making sure that gift cards are used in a timely manner, as leaving them unspent can be a huge financial loss. This statistic is a powerful illustration of the need to be mindful of gift card usage and to ensure that they are not left to expire.
Conclusion
The statistics presented in this blog post demonstrate the prevalence of unused gift cards around the world. Approximately $3 billion worth of gift cards go unused every year in the US, while over £2 billion ($2.7 billion) are left unspent annually in the UK. In 2021, it is estimated that consumers possess on average $116 worth of unused gift card value and that 46% forget to use their gifts altogether. Furthermore, retailers have been able to capitalize on these forgotten funds by pocketing an estimated $3.5 billion from breakage revenue alone since 2017 – a figure which continues to rise each year as more people fail to redeem their cards before they expire or get lost/misplaced along with other items like loyalty points and store credits (10%).
It is clear from these figures that there needs to be greater awareness surrounding how best we can make use of our gifted money so as not lose out on its potential value; whether through better organization methods such as tracking apps or simply being mindful when receiving them during special occasions like birthdays and holidays alike.
References
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5. – https://www.money.com
6. – https://www.cnbc.com
7. – https://www.businesswire.com
8. – https://www.marketwatch.com
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10. – https://www.mercatoradvisorygroup.com
11. – https://www.consumerreports.org
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14. – https://www.creditdonkey.com
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