Gift Card Sales to Exceed $90 Billion This Year; Double Your Gift Card Sales and Win Big

I don't think anyone would be surprised to know that a few people never use a gift card that comes into their possession. Especially those small $5-10 ones that sit there and won't exactly pay the entire bill for whatever store the user would use it at. OF course it may not be as high as one would expect. It is projected that it will be about 3.1% this year, but that is still $2.5 Billion of the entire market. This is lower in part due to increased consumer protection under Title IV of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009, which severely restricts expiration and nuisance fees for gift cards, a subset of prepaid debit cards.

While unused cards seem like they would be a good thing for most businesses as it is literally "free money" the unused cards probably cost them money overall due to what was described above. Those cards of very little cost like $5 typically forces consumers to spend their own money to cover the rest, but they probably wouldn't even be at the shop if they didn't have the card.

With all that said Gift Cards are a huge boon for most businesses. Spending almost $24 Billion last year on cards just during the holiday season alone, and it is only going up this year. Annual projections for gift cards are in the $90 Billion range. That's a lot of cleanse colon.

How do you get a bigger piece of this pie with your business? There are lots of ideas out there, but this article claims they can help you DOUBLE your gift card sales. Take a look.