If you did not receive an email over the last several weeks from a well intentioned friend warning about the dangers of purchasing gift cards from many retail merchants this holiday season, you would seem to be in the minority at this point. The email referenced in our previous post “The Death of Giftcards” - appearing in several different variations – spread like wildfire throughout the nation just before the start of the holiday shopping season on Black Friday, the day following Thanksgiving. News stories from local and national outlets also reported on the possibility of gift cards being worthless after the New Year as failing retail stores headed into banckrutcy. Gift Card Warning
There is, as they say, always two sides to every story. And we should be careful not to lump everyone into the same category. Evidenced by this open letter from Paula Bennett, President of J.Jill, found on the company website link entitled’ “Our Response to Recent Gift Card Concerns” refutes that not all the claims surfacing in the previously mentioned email are true. There is a decided difference between declining sales, closing selected stores, going into banckruptcy, and finally going out of business. Certainly, if you are holding gift cards to a retailer that is definitely going out of business use that card immediately! If you are considering completing a percentage of you holiday shopping with gift card purchases, stay away from those same companies and those that are declaring bankruptcy. This article, “Store Closings and Gift Cards“, by David Emery at About.com helps clear up some of the confusion and hysteria associated with this story. Due diligence is in order this year (as it always should be) especially during these harsh economic times. And be open to hear the merchants side of things too.
Gift cards are still one of the most purchased items for the holiday season. And, believe it or not, they are one of – if not the most – requested gift items as well. There are many stable and reliabel merchants and retailers to chose from to satisfy your holiday wishlists.
