Sales of gift cards are expected to fall this holiday season, says The Journal, rather obviously. Sales of everything are going to be garbage, and at least with a normal gift, there’s some mystery about how much you might have paid. Buy someone a $10 gift-card, and there’s no getting around the fact that you’re a cheap-skate.
But this was interesting:
“Customers are saying that they’d rather buy a $70 cashmere sweater that’s half off as a present instead of a $50 gift card,” said Ellen Davis, vice president of the NRF. Some shoppers said they also worried that the retailer selling the gift card could go out of business.
If companies are hesitant to extend credit to consumers, it makes sense to return the favour. We’d guess that the number of people worried about this is small, but then maybe not. It seems newspapers across the country are warning people about worthless gift cards:
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