Shopping Savings: 2023 Gift Cards

 With the holiday season fast approaching and gift cards poised to be among the most popular presents yet again, the personal-finance website WalletHub today released its report on the Best Gift Cards of 2023. This report highlights the best gift cards based on factors such as popularity, average discount and resale value, while also providing 12 money-saving gift card tips to help holiday shoppers maximize their savings.

Best Gift Cards                                    Most Popular Gift Cards

1) Starbucks Gift Card                               1) Visa Gift Card

2) Sephora Gift Card                                 2) Amazon Gift Card

3) Target Gift Card                                     3) Target Gift Card

4) Disney Gift Card                                    4) Starbucks Gift Card

5) Chick-fil-A Gift Card                               5) Disney Gift Card

 

Biggest Buyer Discount

1) SONIC Gift Card (16.00% discount)

2) Fandango Gift Card (11.41% discount)

3) Applebee's Gift Card (8.25% discount)

4) Subway Gift Card (7.63% discount)

5) Old Navy Gift Card (7.49% discount)

 

 

See the full list of 2023’s best gift cards, plus 12 money-saving gift card tips on WalletHub’s Best Gift Cards of 2023 and read WalletHub’s commentary and tips below. 

 “A lot of people don’t realize that you can buy a $100 gift card for, say, $80 or sell an unwanted gift card rather than use it for something you don’t need. It’s a great way to save during the holidays.”
 
- Cassandra Happe, WalletHub Analyst
 
 
Gift Card Deals Offer Much-Needed Savings This Holiday Season
 
Holiday shoppers spend billions of dollars on gift cards each year, and 2023 is shaping up to be no different. Around 55% of people say they want a gift card for the holidays, and the best gift cards for the 2023 holiday season are from Starbucks, Sephora, Target, Disney and Chick-fil-A, according to a new report from the personal-finance website WalletHub. The report analyzed 50 companies’ gift cards based on popularity, average discount, resale value, retailer rating, and shipping fees.
 
“The best gift cards offer a unique combination of high desirability due to the retailers they’re affiliated with, good value for buyers thanks to available discounts, and the freedom for the recipient to resell their present without wasting money,” said Cassandra Happe, WalletHub analyst. “A lot of people don’t realize that you can buy a $100 gift card for, say, $80 or sell an unwanted gift card rather than use it for something you don’t need. It’s a great way to save during the holidays.”
 
The most popular gift cards tend to have the highest resale value but are harder to buy at a discount, as you might expect. Some of the most popular gift cards can even cost you money if you’re not careful. For example, Visa and Mastercard gift cards typically have fees associated with them. 

 Best Gift Cards                                    Most Popular Gift Cards

1) Starbucks Gift Card                               1) Visa Gift Card

2) Sephora Gift Card                                 2) Amazon Gift Card

3) Target Gift Card                                     3) Target Gift Card

4) Disney Gift Card                                    4) Starbucks Gift Card

5) Chick-fil-A Gift Card                               5) Disney Gift Card

 

Biggest Buyer Discount

1) SONIC Gift Card (16.00% discount)

2) Fandango Gift Card (11.41% discount)

3) Applebee's Gift Card (8.25% discount)

4) Subway Gift Card (7.63% discount)

5) Old Navy Gift Card (7.49% discount)

Gift cards are poised to be the most popular type of holiday gift again in 2023, according to the National Retail Federation, and it pays to be prepared. “If you don’t have a gift card strategy for this holiday shopping season, you might end up making some costly mistakes,” Happe said. Fortunately, there are some easy steps you can take to make both your wallet and the recipients of your presents happy.


5 Gift Card Tips for the Holidays

1. Look for a Discount. You can save up to 16% on your gift card purchase if you buy from an online marketplace, depending on the type of gift card you choose.
    
2. Give Cash Instead of Card-Network Gift Cards. Gift cards from Visa, Mastercard, and other card networks can be used pretty much anywhere, but they also charge users fees that eat away at the funds loaded to the card. Giving cash instead skips the fees while giving the recipient maximum usability.
    
3. Remember That Resale Is an Option. If you receive a gift card that you don’t like, you can always sell it online or swap gift cards with a friend or family member. Similarly, if you buy a heavily discounted gift card without a specific recipient in mind, you can always resell it yourself later when it’s more in demand.
    
4. Buy Gift Cards with Rewards. You can typically redeem credit card rewards for gift cards, and you might be able to get more value per point or mile than you would by redeeming for cash back.
    
5. E-Gift Cards Are Excellent Last-Minute Gifts. Not only can you buy gift cards online at a discount, but you can also send them to your recipient digitally. This can save you a lot of time and effort, in addition to money.

 
Full Report: https://wallethub.com/edu/cc/best-gift-cards/27133