Consequently, consumers spend billions on these small plastic "gifts" each year. The Purdue Retail Institute estimated that US consumers purchased approximately US$40 billion worth of gift cards just during the 2008 holiday season.
However, the ongoing economic downturn has tarnished these shopping aids' name. Consumers have been saddled with millions of dollars in worthless gift cards as retailers large and small have filed for bankruptcy. With gloomy economic news on the horizon, the question becomes: What does the future hold for these convenient items?
