Gift You!


You can’t believe everything you read on the internet. You can’t believe everything you hear and see on the idiot box. Sometimes a search for “truth” requires a combination of all of the above and Google too.
I just read something I’m having trouble digesting. I think it’s true. This particular thing I read said that American folks are sitting on…now read this slowly and don’t faint…$30 Billion in Gift Cards.  Come on!  Are you serious? Can you imagine the economic stimulus if we spend those damn things…like NOW.
gift card

Let’s do an April Fool’s Day spending prank.  April 1st is on a Tuesday, just 10 days away. Let’s spend those damn Gift Cards people. Spend every last one on Tuesday April 1st.  The economy will be totally mixed up. It will forever be knows as “Black Tuesday.”  All this money…$30 Billion…raining down on local restaurants, Star Bucks, Amazon, Zappos, Target, Wal-Mart, beauty parlors, spas, tire stores (yes, they sell gift cards, too), movie theaters, Barnes & Noble, etc. Why should we keep holding on to these things? They are worthless until you cash them in. Do it!

Now I realize that Wednesday, April 2nd, will feel like a big let-down for all these retail places, but they will need some time to recuperate anyway.

Oh-Oh…

While writing this, my wife reminded me we have an old gift card to Olive Garden…yuk…I hate Olive Garden. In this town of wonderful Italian restaurants, Olive Garden ranks about #15.

Ok, Ok, I see why many of you are in the same predicament. Let’s get over it. I’ll spend mine. You spend yours.
Join me for dozens of bread sticks on April 1st…no fooling. Our economy will love you.

About bakoheat

Writer/Musician
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7 Responses to Gift You!

  1. fiddlrts says:

    Shhh! Don’t ruin my business by telling people they can’t believe everything they read on the internet!

    (Just kidding)

    One of the most interesting economic analyses I ever read was Joel Waldfogel’s one on the real value of gifts. (Link:http://www.slate.com/articles/business/the_dismal_science/2009/12/you_shouldnt_have.html)

    Of course, Waldfogel never takes into account the real gain to those who want to think snarky thoughts about other people’s gifts. Self-righteousness may not show up well in the ledger, but it is real. (Thinking of my late Jewish step-grandmother who used to package Target purchases in Neiman-Marcus boxes…)

    • bakoheat says:

      Thanks for writing. It reminded me I also had a “late” relative who would buy two and three orders of “buy one get one free” cookbooks and give send them as gifts. It was fine until the relatives compared gifts.

  2. Joan Raymond says:

    Wow, amazing info. I have to admit I have a few gift cards lying around too. Sees Candy – 1 lb, Subway – $4.52, and Target – $26.13. Yes, I am part of the problem, but I’ve been saving them for a rainy day – and as we all know those are far and few between here in Bako.

    Great Post!

  3. Jack says:

    Am I missing something? Those gift cards have already been paid for, so hasn’t the economy been stimulated? The cardholders on the other hand…?

    • bakoheat says:

      You’re right, however, 50% gift card users spend more than the amount of the gift card. The majority use the card on a “full retail” price item. Over 20% are visiting a restaurant or shop they have never been to and the chance for new customers increases. And last, but not least, a large percentage of gift cards are Visa and MC. Get the money out of the bank’s hands and into stores. But, your point is true…the majority of that 30 billion has been spend one way or another. Thanks for your comments.

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