A new shopping holiday will debut on January 18, 2020—National Use Your Gift Card Day—in an attempt to encourage people to use their holiday gift cards before they are forgotten.
According to Mercator Advisory Group, in 2019 consumers spent $98.6 billion on holiday gift cards, but the organization says that as much as three percent of these will never be redeemed. This means that $3 billion will go unclaimed.
Speaking on why people don’t use their gift cards, National Use Your Gift Card Day founder, Tracy Tilson, told Newsweek that it’s not just a case of people forgetting.
“When it comes to receiving a gift card, there is always a chance that it’s from a brand where you wouldn’t usually shop or dine or possibly the amount isn’t large enough to warrant an immediate spend,” said Tilson.
“I have three gift cards in my wallet right now that have been there for over nine months… and that’s why National Use Your Gift Card Day was created.”
The holiday was put forward by online hub UseYourGiftCard.com and has been recognized by the 2020 edition of Chase’s Calendar of Events as well as the Registrar at National Day Calendar. It will be observed on the third Saturday in January every year.
To encourage shoppers to use their gift cards before they enter spending limbo, retailers across the U.S. have joined forces with UseYourGiftCard.com and reminded customers of incentives and deals they can get if they use their pre-paid plastic.
National Use Your Giftcard Day Deals
- AMC Theatres: Customers can access AMC exclusive offers as long as they remember to use their gift card.
- BurgerFi: Get a free order of fresh hand cut fries when customers download the BurgerFi App and use a gift card.
- Chipotle: Join Chipotle Rewards and use a gift card to earn points towards free Chipotle.
- Kohl’s: Use your gift card and earn $10 Kohl’s cash for every $50 spent.
- LifeisGood.com: 10 percent off when you use a gift card.
- Red Lobster: Use your Red Lobster gift card and create your own ultimate feast; pick four of more than 10 craveable creations for a feast that’s all your own.
- Regal: Receive one free refill with a purchase of a large soft drink and/or large popcorn on the same day of purchase when you use your giftcard.
- rue 21: 15 percent off total purchase when using a gift card, which is valid from Saturday, January 18 until January 26, 2020.
- Saks OFF 5TH: Use your Saks Off 5th gift card to shop in store or on saksoff5th.com and take advantage of the “Extra Cut Clearance Event” on January 18, 2020.