READY, SET, SHOP! NATIONAL USE YOUR GIFT CARD DAY™ RETURNS

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Jan 09, 2023, 09:09 ET

On Saturday, Jan. 21, the fourth annual event reminds everyone that gift cards were meant to be spent.

BOCA RATON, Fla., Jan. 9, 2023 /PRNewswire/ -- After the receipts have been filed and the wrapping paper recycled with care, the most wonderful shopping time of the year begins: gift card spending time. To encourage consumers to dig their cards from wallets and drawers and spend them as intended, National Use Your Gift Card Day is returning on Saturday, Jan. 21.

Gift cards are one of the most popular presents to give and receive, but a stunning $21 billion will go unspent this year, according to Creditcards.com, which found in a recent survey that 47% of U.S. adults have at least one unused gift card, voucher, or store credit.

"People are so busy after the holidays, it's no wonder they lose track of the gift cards they receive," said Tracy Tilson, Founder of the national shopping holiday. "That's why we came up with National Use Your Gift Card Day. It's a reminder to rescue those unused gift cards and spend them before they're forgotten."

Research by the National Retail Federation reveals more eye-opening facts about the gift card market:

Holiday spending on gift cards was expected to rise from $28.1 billion in 2021 to $28.6 billion in 2022.
During the 2022 five-day Thanksgiving holiday shopping weekend, gift cards were the third-most-popular item, after clothing and toys; they accounted for 27% of purchases.
Similar to 2021, holiday shoppers in 2022 planned to purchase three to four gift cards each, spending an average of $51.47 per card ($165.87 per person).
Consumers are most likely to purchase a gift card for a restaurant (27%), department store (26%) or bank-issued gift card (25%), while 10% plan to purchase a card from a food delivery service such as DoorDash or Uber Eats.

"Gift cards are an important part of the holiday season and continue to be a popular item to gift to family and friends," said Katherine Cullen, senior director of industry and consumer insights for the National Retail Federation. "They provide a wonderful opportunity to support your favorite restaurant or retailer or treat yourself to a new shopping experience. Everyone deserves a little retail therapy after the holidays."

National Use Your Gift Card Day is supported by a growing list of merchants, including:

The Jan. 21 holiday falls at the perfect time to capture consumers' attention. According to a Pitney Bowes BOXpoll survey, more than one-third (39%) of consumers plan to cash in their cards by the end of January and half (48%) by the end of February. An additional 30% say they'll save the cards until they're needed — if they even remember they have them.

For information on the holiday, including an updated list of participating merchants and their promotions, visit www.UseYourGiftCard.com or email [email protected].

About National Use Your Gift Card Day and UseYourGiftCard.Com

National Use Your Gift Card Day is an American shopping holiday held on the third Saturday each January, reminding consumers to use unused gift cards before they are forgotten. Consumers can check UseYourGiftCard.Com for more information and an updated list of merchants and find advice for getting the most out of their gift cards on Jan. 21, 2023. National Use Your Gift Card Day is a member of the National Retail Federation.

Contact:
Jackie Rodriguez
[email protected]

SOURCE UseYourGiftCard.com