Gift cards are one of the most requested gifts, but how much of the value is never used?

Answer: The average unused amount is $244 per person

Questions:

• Why do you think that the balance on unused gift cards is so high?
• What strategies can a consumer use to make sure that they don't lose track of their gift cards?
• Although gift cards are often asked for, would knowing that many people don’t use gift cards impact your decision to give gift cards as presents?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Bankrate):

"The average value of unused gift cards, gift vouchers or store credit per person is up 30 percent from 2023 when it was $187. And it’s up from $175 in 2022 and $116 in 2021. The median unused amount is currently $100. 

“Gift cards represent real money,” says Ted Rossman, Bankrate senior analyst. “It’s disappointing that the amount of unused value continues to grow. Stores such as Walmart and Starbucks have more than $1 billion in unused gift cards on their books.”

------------------

To receive a Question of the Day in your email inbox, subscribe to the NGPF Blog.

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.