Consumers redeem most gift cards in January. Nearly 50 percent of consumers receive gift cards at Christmas and redeem 90 percent of gift cards within 60 days of receiving them. Roughly 75 percent of gift card recipients redeem them within the first month.
Consumers spend over $110 billion on gift cards annually, as of 2015. Roughly 93 percent of consumers purchase or receive gift cards annually, and 83 percent of corporations offer gift cards to employees as rewards or incentives.
Nearly three-fourths of people using gift cards spend more than the value of the card, spending an average of 20 percent more than its value. Consumers fail to redeem 2 to 20 percent of gift cards received. There has been over $44 billion in unredeemed gift cards since 2008.