In headlines everywhere, from front page news to other blogs such as this one, people’s minds are on shopping. Even though wallets are thinner then in previous years Santa doesn’t miss a years worth of presents over that. So we past thoughts of giving holiday cheer, students and staff alike are thinking about presents. What to get her, what he likes, what will I get!?
This winter like many others economist and department analysts are trying to report on what’s going to be under people’s tree.; the headlines, morning broadcasts’, and papers suggest that the biggest gift asked for as of today, the gift card. That is right pre-paid gift cards are available from every business and every situation.
They are increasingly common as a result of the new credit card laws that came in to effect in the last few months. The new law is set to the benefit of the consumer, so that buyers can not be tricked or cheated. Therefore these new rules also apply to gift cards. Although some groups are like credit card companies and banks disagree still with the passing of the new limitation they are being pushed aside for the greater hope that this will stimulate the economy.
Now gift cards can’t expire before five years. Business associations are also being made to log the purchase of the card, which is now mandatory to prevent theft. The card receipt is no longer your only hope if you lose the plastic. Those changes among other things are in place to get people spending, in theory.
What is not theory though is that gift card sales are through the roof, exceeding higher than they have been in months. Stockholders are even judging what to buy from a company’s ability to move the palm-sized pre-paid power houses. So don’t be surprised if you see a paper thin present under your tree, never judge the package by its paper.