The third Saturday of January is dedicated to a special enabler of ecommerce throughout the world- the ubiquitous gift cards. 15th January this year is the National Use Your Gift Card Day, and the whole objective of a day dedicated to gift cards is to encourage more of its use since $3.5 billion of gift card value goes unused every year.
The newly ordained retail holiday is designed to get customers into the retail stores to spend the gift cards that they received over the holidays, before they forget that they have them in the first place. Call it a “gentle reminder” or “a push with love,” there is no denying that most of us forget to spend the money on our gift cards. That doesn’t help anyone, does it?
51 percent of US adults have unused gift cards, and their numbers add up to $15.3 billion in value. It is exactly why there needs to be a push to encourage consumers to go out and start shopping with their gift cards.
The gift card market is expected to reach 1,443.68 billion USD by 2026. According to the National Retail Foundation (NRF), gift cards were the most-requested gift during the holiday season for the 13th year in a row. It means that there is no love lost for gift cards, and it is a testament that you will surely see a surge in its usage in the coming years.
NRF says that consumers were planning to purchase three or four gift cards for their friends and family, for a total of $27.5 billion, at an average of $47 per card. These are some incredible numbers and proof of the incredible love that customers have for gift cards.
Some of the biggest retailers that you know are participating in the event: Applebee’s, Chipotle, Express, Macy’s, PetSmart, Rue21, and Soma, to name a few.
How can you make the best use of National Use Your Gift Card Day?
Follow the below steps to make sure that you empty your gift cards this holiday season.
Step 1: Find out where all your gift cards are. The gift card that Uncle George gave you during last year’s Thanksgiving is still useful if there is money in it. Do not keep them lying around like a souvenir. Make sure that you scout your emails for any digital gift cards that you might have forgotten.
Step 2: See if any of the retailers are running a special promotion during the event. If yes, then check for products that you were planning to buy or were hoping to splurge on some day.
Step 3: Plan on how you will spend each of the gift cards.
Step 4: If you do not have anything special to buy during the holidays, then surprise your friends and family with something they love. Or donate to a charity, if you feel a little generous.
Don’t keep your gift card in some corner hoping that you will use it later. That day never comes, well, except for January 15th this year.
If you want to set up a gift card for your store, get in touch with the good folks at 99minds. Let us help spread the holiday cheer for your customers!