The
billion dollar scam….my two cents worth
My
suspicions have been proven. Over the
years the amount of shops and services using gift cards has increased
immeasurably. Now, don’t get me wrong, gift
cards are a great idea. Some can be used
in more than one location, the recipient can pick exactly what they would like,
it makes it easier to buy for someone who is difficult to buy for and they make
the perfect gift for someone living some distance away, so much easier to post.
But I have a beef with gift cards and this goes back to the very first gift
card I received some years ago…..my beef is that if not all of the gift is
used, then the business or corporation wins….and wins big. If one million people leave one cent on their
gift card - that is one million dollars of pure profit for the company. Then there is the fine print attached to some
cards….must be used within a certain time….can’t be redeemed online….non
transferrable….rules that definitely set many people up to fail which means a
big win for business.
So
my thoughts about the lost millions was correct….but was much more than I ever
imagined after an article in the news recently that stated there was over 1.6
billion dollars of unused gift card credit in Australia. 1.6 billion dollars of pure profit that the
companies have had to do no more than provide a plastic card and two minutes of
salesperson income…..a good way to do business but not so good for
consumers. But how can consumers
win? Well, they can make sure they know
the rules for the gift cards they receive, make sure they spend the whole
amount (which usually means spending over the amount…another win win situation
for businesses) and they have to remember to use them.
But
what about all this extra cash….this 1.6 billion dollars??? A service or
product has been paid for…shouldn’t a service or product be received?? A charity should be started where people can
send their unwanted, unused and left over gift card balance so that cards can
be pooled and the money used to benefit charities and those that need it. Or imagine if companies donated even half of
that profit to charity….that would be $800 million dollars….imagine how much
help that would be to people in need and how much good that money could
do. Should companies be made liable for
unused gift card cash or should they be applauded for good business?? Even if companies did donate half of left over gift card money to charity, that would
still leave them with a hefty profit….and good karma.
Personally
I would be more inclined to support a company that donated a percentage of
unused gift card cash than a company that didn’t. And I would be more inclined to purchase gift
cards from that company over others. It
would be like a gift that kept on giving…and if someone didn’t use their gift
card…then at least you would know that someone needy would benefit and that it
wouldn’t just go to an awesome bottom line for corporations. I may look further into the unused gift card
charity idea….something should be done…..
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