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Sunday, 8 April 2012
£250m wasted per year' on unused gift cards
People in the UK waste £250m per year on store gift cards they do not use, according to industry figures.
Annual sales of the cards are worth more than £4bn. About half are given as personal gifts, the rest by business.
But 6% of the value on the cards is never used, partly because they expire after a fixed period which can be as short as a year.
The gift card trade body says many shops extend the expiry date every time they are used.
Speaking on BBC Radio 4's Money Box Andrew Johnson, director general of the UK Gift Card and Voucher Association, said: "For a retailer, a gift card or voucher remains a liability on the books so at some point it makes good financial sense to remove that liability"
My advise is go back to "Cash" gift system instant gratifying and appreciative.