Vox:
I write about economics for a living, so I understand concepts of deadweight loss and depreciation and inefficiency.
That said, I still ask my parents for gift cards for Christmas every year. And I buy them for people, too.
I know this is a sacrilege, and you might, too — there are all sorts of articles out there about how gift cards are sincerely a terrible, horrible gift. And yet I keep wanting them. It could be because I’m just a bad decision-maker, but I think there are excellent reasons to get a person a gift card … provided you buy it for the right kind of person.
I think gift cards can have their place for certain people. Do you give gift cards? Do you like to get them?
I use maybe half the gift cards I receive. The ones I don’t use – that I keep receiving – are for bricks and mortar stores.
I prefer universal gift cards, the ones with pictures if Prime Ministers, Queen Elizabeth, or former Presidents on them. Good anywhere, never expire.
LOL “universal gift cards”…I like that!
Why a gift card? If you’re really onto not giving an actual, meaningful thing that your friends will look back at later and say “this was a gift from X” then you might as well give a check or cash: at least those two are not tied to a particular store, and can prove useful in the rare event you’re short on cash for a completely unexpected event.
I don’t get gift cards. You’re basically exchanging real money for fake money that can only be used in one store. You’re intentionally making your money worth less if you buy gift cards. I think not giving an actual preselected physical gift is a good idea, but if you go that route, just give cash.
We give certain gift cards to distant folks for items I know they will use or for items they regularly purchase: coffee cards, iTunes cards etc. I see these as little different than gifting the magazine or newspaper subscription we gave to our parents and grandparents generations. We also gift this same folks carefully considered items. We do not gift folks a card from a store because we thing they may like it – we would give the universal gift card, or better yet host them somewhere. We have shared many great times together with family or friends by hosting them at a location or dining experience we mutually enjoyed. Sometimes it is best to give of yourself.
I always prefer to receive them – the sales start on Boxing Day here in the UK. I would rather not waste loved one’s money as they try and get particular items at inflated costs.
Gifts cards can be great. Sometimes I’ll give a person – or a family – relatives – distant relations a small give and also a gift card – for something – or to something they will probably use.
I don’t like receiving or giving too many nick nacks as they simply become junk and are soon forgotten – I mean a gift card is more meanful than an actual gift that is not wanted or used. Also, you may know that so and so wants X, but that one gift is very pricey – so a bunch of use can get a few gift cards to get them very close to the purchase price…
Gift cards, used the right way, are very good gifts!