PCSB in the News: Associate Dean Dan Horne on Giving Gift Cards
Associate Dean and Professor of Marketing Dan Horne recently contributed to an article on CNBC Personal Finance about the top 10 gift cards to buy this season. Dr. Horne has studied giving and gift cards, and knows the science behind gift cards as actually being some of the most desired gifts. Sometimes, giving gift cards can give off the impression that the person put in as little effort as possible. However, according to the CNBC article, forty one percent of people say that a gift card is exactly what they want this year.
Dr. Horne says that people want gift cards because they have had bad experiences with receiving gifts. He says that about fifteen percent of Christmas gifts are never used. He also says,
“Gifts are a communication about the state of the relationship. When you give me a gift I don’t want, it says in part that you don’t know me.”
If buying a gift card for someone is in your future, CNBC’s article gives a list of the top ten gift cards to buy this season. The list includes iTunes, Starbucks, Walmart, and more. Amazon is the most popular gift card this year, according to WalletHub. Network-branded gift cards such as Visa or MasterCard can also be great options, but it is important to read the fine print to be aware of inactivity fees and purchase fees that are often associated with these types of cards.
According to Dr. Horne, the beauty of gift cards is that the recipient can pick exactly what he or she wants. Guessing about what gift someone might want could prove to be ineffective. Maybe, the gift card stigma will finally start to disappear this season.
For the full article on CNBC with Dr. Horne’s comments, click here!