Team Clark is adamant that we will never write content influenced by or paid for by an advertiser. To support our work, we do make money from some links to companies and deals on our site. Learn more about our guarantee here.
If you’re planning to do most of your Christmas shopping at one of those gift card kiosks, a new Bankrate.com study says you might want to consider buying something else.
Read more: The best days to shop between now and Christmas
According to the study, half of consumers plan to give a gift card this holiday season, but only 27% of Americans hope to receive one.
What’s interesting is that 34% of younger millennials, ages 18 to 25, would choose a gift card, the most of any other age group. But they were also the age group most likely to prefer a tangible gift, at 57%.
For those who do give gift cards, most say it’s because they think it would be the best gift for the recipient.
“Finding a gift that suits each individual on your holiday list can be a challenging task,” said Bankrate.com analyst Mike Cetera. “Given the vast selection, electronic delivery options and potential security features, gift cards are still a solid choice for many gift-givers.”
Here are some other key findings from the Bankrate.com study:
If you’re going to buy gift cards anyway, Clark says you may want to avoid restaurant gift cards this year because so many restaurants are shutting down.
“Don’t buy a restaurant gift card as a gift because by the time the person goes to use it, the place could be out of business,’ Clark said. “If you’re buying one for yourself to earn bonus points, use it right away.”
And to find more personal gifts to give this holiday season, see what’s new on our Clark Deals site.
Read more: Don’t buy these gift cards this holiday season
If you want to avoid giving someone a gift card they don’t want, consider just giving cash instead! That way the person isn’t limited to how they use the money and won’t have to worry about a store or restaurant going out of business.
This post was last modified on March 22, 2017 4:35 pm
If you've been considering signing up for one of the Chase Sapphire credit cards, now…
The costs associated with owning a home go way beyond the amount on the mortgage. …
Inflation hits people on a fixed income the hardest. Say you're retired. You're living off…
Deciding to save and invest are great habits. But once you check that box, your…
If you're considering subscribing to Fubo, you need to be comfortable missing out on some…
Are you looking for a way to earn 2% back on every purchase you make…