There was a really interesting Wall Street Journal story recently about the psychology of gift cards.
According to the story:
So why have gift cards grown in popularity when we already have something better sitting in our wallets? The answer is a combination of consumer psychology and opportunistic retailers and card issuers. Consumers see giving cash as crass, and retailers have taken advantage of that to push gift cards.
So what do you think? Would you rather just get cash, or do you think that's a bit tacky?
Comments
Re: Would you rather have cash?
November 23, 2009 - 5:57pm — mommymatters2I think the gift card says you at least put some thought into where they shop, what they like. I know all my nieces and nephews like Itunes and enjoy their gift cards.
Re: Would you rather have cash?
November 23, 2009 - 2:19pm — dwtaylor1I personally don't have a preference. I do give quite a few gift cards that are mailed out of state and that way I know that something is purchased, especially great for younger children. A lot of times they are pooled with other gift cards from family members to buy something that is more expensive than I alone can afford to purchase for them.
Re: Would you rather have cash?
November 23, 2009 - 2:00pm — chanssisterthere are a lot of advantages of just giving cash vs gift cards.
there are no service charges if you don't use it.
it can be used at any store.
Less likey to get mis-placed or forgotten about.
and even if you did mis-placed and find it years later, no need to wonder if it's still good.
Re: Would you rather have cash?
November 22, 2009 - 5:30pm — DalejNeither.
I'd rather have a gift that someone wants to give me.
Cash/gift cards tend to be gifts as a result of an implied or social obligation.
Something someone makes and comes from a desire and thought is much more valuable.