OK. I had a whole diatribe written for you about one more reason why you should hate gift cards, but my butterfingers clicked the wrong button and lost the entire (and rather lengthy) post (filled with links). ARghH!

Here's the gist of what I was going to say: The Sharper Image, that seller of electronic can-you-believe-they-make-something-to-do-that-people-will-think-of-everything doodads filed for bankruptcy protection last month. While they come up with a reorganization plan and try to pay off debt to a long line of creditors, the company will suspend gift card redemption.

Here's what the Sharper Image had to say on its Web site:

The company intends to continue to conduct business as usual while it devotes renewed efforts to resolve its operational and liquidity problems and develops a reorganization plan.

However, The Sharper Image is suspending the acceptance of Gift Cards, Reward Cards, Gift Certificates or Merchandise Certificates as a form of payment.

We appreciate your understanding that according to Bankruptcy law, store employees, managers and the Company do not have the authority to override this directive.

The Company is urgently working with the Bankruptcy Court to quickly come to a solution for this issue. Please check back with us in mid-March for further updates.

Continue reading "Gift Cards: Another reason to hate them" »

Posted by Dan Thanh Dang at 6:21 PM | Permalink | Comments (5)
                    

You know what I just realized about all the Christmas presents I received just this past year? I didn't get a single gift card.

It didn't even occur to me to think about it until I read this interesting report from WSL Strategic Retail’s How America Shops®...Everyday Pulse on gift card popularity passing its peak.

I used to pick them up for my nieces and nephews because it was so easy, but then it just started feeling impersonal. Instead of being able to point to a well-worn, beloved stack of Dr. Seuss books I got them, I'd sit there wondering what they bought with the cards I gave them. It made me feel like a very neglectful aunt so I stopped being lazy and started looking for real presents again.

Apparently, I'm not the only one who fell out of love with gift cards. According to WSL, the percent of holiday shoppers who gave gift cards has dropped significantly year on year from the 60 percent in 2003 level to 44 percent in 2007.

Here are WSL's top five reasons:

Continue reading "Gift Cards: The gift we love to hate" »

Posted by Dan Thanh Dang at 10:55 AM | Permalink | Comments (1)
                    

Do you hate gift cards? Do you love giving them, but not receiving them? Did you misplace a bunch of gift cards you received as presents? Are you a vegetarian who got a gift card to a steakhouse chain?

Whether you love them or hate them, gift cards will make up $26.3 billion in sales for the 2007 holiday season, according to the National Retail Federation.

Those of you in the hate group might despise gift cards a little less thanks to a new, free service that helps users "purchase and register their gift cards, track their balances, swap cards of equal value and even earn interest," according to this L.A. Times story.

Leverage Inc., a California-based firm, allows users to register cards on the Web site and then track their cards on-line, the story says. Users are notified when gift card balances change and if a card goes missing, a backup mechanism can retrieve lost card numbers.

Continue reading "A new way to love gift cards again?" »

Posted by Dan Thanh Dang at 7:55 AM | Permalink | Comments (0)
                    

If you're gearing up for the big holiday shopping push, read this first!

Financial guru and my partner-in-crime Eileen Ambrose says:

Gift cards are a thoughtful present for those who are difficult to buy for. Or, they’re the lazy giver’s way to avoid the mall crowd at holidays. I include myself in this latter category.

Either way, recipients often don’t redeem them. Cards go missing or expire. One estimate puts the loss of unredeemed cards last year at nearly $8 billion. That’s free money for retailers.

Just as maddening, even if you redeem cards, you might find that the value isn’t what it used to be because of hidden fees.

Consumer Reports today kicks off a campaign warning about gift card pitfalls. A couple of years ago....

Continue reading "The not-so-perfect gift?" »

Posted by Dan Thanh Dang at 10:47 AM | Permalink | Comments (2)