Timing set to encourage consumers to redeem holiday gift cards
BOCA RATON, Fla. — If you thought the holiday season was over, think again. A new shopping holiday is debuting this year on Sat., Jan. 18, called National Use Your Gift Card day.
According to the National Retail Federation, during the recent holiday season, consumers purchased three or four gift cards at an average $47 per card for a total of $27.5 billion.
“We receive gift cards for the holidays with every intention to use them, and then they’re forgotten,” said Tracy Tilson, founder of National Use Your Gift Card Day. “This is a reminder for consumers to use their gift cards so not a single dollar goes unspent.”
The timing of the day takes advantage of the fact that more than 50% of all U.S. consumers claimed to have purchased a gift card as a present during the holiday season. The 2020 edition of Chase’s Calendar of Events as well as the registrar at National Day Calendar both proclaim that National Use Your Gift Card day will be observed every year on the third Saturday in January.
Macy’s and Kohl’s, which both sell home furnishings, are actively participating in this year’s event. Additional retailers still have time to get involved. Tilson said businesses that participate will benefit by gaining visibility through the event’s national platform, being able to drive traffic in-store and online, as well as boosting sales with direct links to deals on retail websites.
Anne covers the evolving landscape among retailers and manufacturers in the bedding, technology, e-commerce and disruptive retail segments.