Digital gift cards happen to be quite popular among the younger generation. Compared to the older generations, millennials are far more likely to buy digital gift cards. Statistically speaking, the size of the global gift card market is rising by the day and is expected to reach a whopping number of 510 Billion U.S dollars by the year 2025.
Gift cards have taken the online shopping experience to a whole new level. Several gift card sellers such as Coingate offer Flipkart gift cards that allow you to purchase anything they like – whether it’s an electronic gadget or a piece of clothing – all while sitting on your couch.
To help you understand that, here is what we will be covering in this article:
- The Digital Revolution
- The Pros of Gift Cards
- The Cons of Gift Cards
- Final Takeaway
The Digital Revolution
You may not know it, but gift cards have been around since the year 2001. However, digital gift cards were not always as popular as they are now, and their growth was restricted by the technology available at that time. Usually, they had to be printed out, and the concept of QR codes was not common back then. This raised the problem of entering them manually at the registers, which was inconvenient for customers and retailers.
So, you must be wondering what happened that changed the scenario?
To put it simply – smartphones happened. Allowing us to stay constantly connected, smartphones created a true revolution in the world of digital gift cards. As of now, people can purchase, redeem, and use gift cards in a blink of an eye using their smartphones.
But the question that arises here is – why should you use gift cards? We’re glad you asked, and to address your question, we have put together a list of the pros and cons of gift cards.
So, without further ado, let’s get to it.
The Pros of Gift Cards
Gift cards tend to present quite a few advantages for the consumers. Here are some of them:
1. Available In Almost Any Amount
Usually, gift cards come pre-loaded with a specific amount – it can be as low as $5 or as high as $100 or even more. While many retailers sell gift cards of specific limits, some retailers may also provide you with the option to make custom amount gift cards. Dan Murphy gift card is the perfect gift for any celebration.
This will no doubt provide you with increased flexibility and ease. So, whether you’re looking to buy a high-value gift card or a gift card with a smaller, more convenient amount, you would have the freedom to choose just about any value for your gift card.
2. Freedom of Shopping
When you purchase gift cards to give to any loved one as a gift, it provides the recipient with the freedom to buy something they genuinely want. Rather than purchasing any typical gift that they may not like, you can simply buy them a gift card and give them a choice to make their own purchase with it.
Not only will this gesture be appreciated, but it will also ensure that the recipient of the gift card desires the thing that he receives.
3. Instant Delivery
Say that you forgot to buy a gift for someone close to you on their birthday and can’t just go out and do that right away because choosing and buying a gift would obviously take time.
But what if we told you that gift cards are a solution to this problem. Yes, they are instantly delivered to you, so you can buy a gift card in a few minutes and give it to the birthday boy or girl. Congratulations, problem solved!
The Cons of Gift Cards
Despite the benefits that gift cards provide to everyone, they are not perfect for every situation. Therefore, let’s shed some light on the cons of gift cards.
1. A Bit Impersonal
The time and energy invested in finding and buying a gift tend to add a lot to any relationship. On the downside, gift cards are often considered to be a bit impersonal. On occasions such as birthdays, anticipating what each friend or family member might give you is fun. However, a gift card may feel tacked on as it is quite easy to buy and has no personal feelings attached to it.
2. Expiration Date
Gift cards tend to come with an expiration date. This means that the recipient of the card is bound to use it before that date, otherwise, it may expire and would be of no use. Even worse, if the recipient forgets to redeem the card before the time, he won’t be notified that the expiry date is near, and he should use the card. Since such gift cards are non-refundable, they would all go to waste.
Even though the idea of buying and giving gift cards as presents may sound perfect, you should consider the person you’re giving them to. Accordingly, you should weigh the pros and cons before you make the final decision of buying them.