Black Friday and Christmas will soon be here and with them, the focus for many people will soon start to turn towards Xmas shopping over the coming weeks. However, new research by Which? has revealed one in 10 UK residents received a gift card for a bust retailer since the pandemic began. So, should you avoid buying them this year?
Gift cards are often viewed as a quick and easy solution for family members who can prove tricky to buy for.
In 2019 the UK gift card market – including gift cards, vouchers and digital e-gift codes – was valued at just under £7 billion.
Nonetheless, the Covid pandemic has had a significant impact on businesses across the country, leading to many going bust.
Research conducted by Which?, the UK’s consumer champion, has found that buying gift cards this Christmas may not be the most sensible present idea.
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What are my rights with gift cards?
If you purchase or receive a gift card this Christmas here’s what you need to look out for.
Always check the T&Cs
Check the T&Cs on the voucher itself and the surrounding packaging. Keep an eye out for expiry dates or fees.
Check how to extend your gift card
Just by checking your balance online or spending a small amount of your voucher could renew the expiry date.
Spend your voucher quickly.
Remember if a company falls into administration gift cards can be refused as an acceptable form of payment.