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  • The Independent

    The secret life of gift cards: Here's what happens to the billions that go unspent each year

    by Dee-Ann Durbin Dec 25, 2023 3 minutes
    Source: Copyright 2023 The Associated Press. All rights reserved

    Gift cards make great stocking stuffers — just as long as you don't stuff them in a drawer and forget about them after the holidays.

    Americans are expected to spend nearly $30 billion on gift cards this holiday season, according to the National Retail Federation. Restaurant gift cards are the most popular, making up one-third of those sales.

    Most of those gift cards will be redeemed. Paytronix, which tracks restaurant gift card sales, says around 70% of gift cards are used

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