The Center for Media Research – Daily Brief reports that “According to the BIGresearch American Pulse Survey of 4,069 respondents, 52.1% of consumers say they would rather receive a gift card or cash for Christmas.”
Personally, I don’t get gift cards. As with cash, people know exactly how much you spent on the gift, but they limit where you can spend it. I have a collection of unused gift cards for shops that, while I might shop at them, I simply haven’t had time to go to.
Why not just give cash in a pretty card? I think of it as the “use it anywhere gift card”. I have noticed that the credit card companies are now offering gift cards, which is a step in the right direction. But why not cut out the middleman and go straight for cash? Maybe the Bank of Canada or US Treasury should start issuing “cash gift cards”.