NEW YORK—Most people who receive a gift card are quick to put it to use, a new report shows.
A study from Paytronix reveals more than 70% of all gift cards are redeemed within six months of purchase, according to one survey.
But after that first 180 days, the rate of use tends to stagnate, The Hustle stated in its analysis.
“At the one year mark, just under 80% of cards are redeemed, and as time passes they are less and less likely to see the light of day. At any given time, 10% to 19% of gift card balances remain unredeemed, and around 6% of gift cards are never even used,” The Hustle noted.