Lego sets and gaming consoles were not the only items in high demand this holiday season. Gift cards were among the highly demanded holiday presents. Most shoppers also preferred gift and prepaid cards to avoid the risks of their gifts arriving late due to shipping delays.
Nevertheless, be it Christmas shopping for your family, friend, or co-worker, you can’t go wrong with gift cards from major merchants and retailers. They are practical and eliminate the anxiety and guesswork of finding a perfect present for your recipients.
This explains why the National Federation Survey found that 59% of participants have gift cards topping their Christmas holiday wish list. Besides, statistics show that Americans purchased gift cards worth approximately $163 billion in 2019. 2020 also saw an increase in sales of digital gift cards by 80%, and experts forecast that gift card purchases will surpass $221 billion by 2024.
Don’t Let Your Gift Cards Go to Waste
Unfortunately, despite massive gift and prepaid cards sales, most people don’t redeem their gift cards for reasons best known to them. So to say, recent figures show that only half of the recipients redeem their gift cards within two months. 80% of those remaining spend them in the course of the year, and the remaining 20% leave their gift cards unused.
According to a CNBC report, up to $3 billion of gift cards remained unused in 2019, despite the $98.6 billion total gift card expenditure. Even with federal protections, some gift card issuers still charge inactivity fees if their cards remain unused within 12 months. These fees range from 2% to 5% in different states. Fees make it difficult for recipients to pin down their specific gift card balance after some years. Fortunately, you can convert your unused gift cards and prepaid cards to bitcoin or cash.
Exchange Your Prepaid Cards and Gift Cards for Bitcoin or Cash
If you have unused or unwanted gift cards, you can either donate them to charity or redeem them for cash or Bitcoin. Prepaid2Cash has made it possible to convert your unwanted or unused gift cards and prepaid cards. Converting your gift or prepaid card to bitcoins is a great way of diversifying your assets, especially in the current volatile economic environment, where inflation of the U.S dollar is a serious issue. Visit the App Store or Google Play and download the Prepaid2Cash app today.