@arbohill
A good example of "As long as you market the right feeling, the product itself is secondary".
@rocketb00t
I realized gift cards were a scam when I pulled a report for all the active gift cards in circulation for the "mom and pop" small business I work for. At any given time we have over $10k in unused cards floating around, and a large portion of those are over 10 years old, probably never going to be used. What's also amazing is how many of those cards have a small balance under $5 remaining. They were probably used once and the purchase didn't use up the entire balance and will never be used again.
@hoathanatos6179
"Restricted money" is a lot older than gift cards. We used to have company towns where you were paid in vouchers that could only be used in the company stores, which forced workers to funnel their money right back into the company's pockets and to keep out competition. Food stamps in the US are also a good example of restricted money given to people by the state to help them afford food, but there are limitations on which foods people can buy with them.
@dzc46278
As a former alcoholic, I can understand the sentiment of people wanting to limit the options of the person recieving the gift...
@mab7727
"I'd be GUESSING but $27 Billion in the US, alone." That's a pretty accurate guess mate!
@sahandd12
Basically a gift to the company
@robinlinh
I still remember first time I hear Jimmy Carr joke about gift cards: "Excuse me, here is some money, that is accepted everywhere. Could you turn them into something that only get accepted in this store? With an expiration date"
@ScozzaMeista
I work in Gift Cards, and I've absolutely questioned why people buy them.
@rorymacintosh6691
Chris Koehler is a communications genius. Thank you!
@gordonmacdowell8117
Restricted Money gets even worse when the business reduces the value of the gift card over time, which is kind of like shoplifting against their customers.
@GK-uu4tc
The one circumstance where gift cards make sense is if they are issued at a discount. If you were able to purchase a $100 gift card by only paying say $90, it makes for a useful gift. My sister recently gifted me a ₹10,000 gift card which her credit card company let her purchase for ₹8,000. Companies are usually happy to sell discounted gift cards when they wish to shorten their cash conversion cycle.
@rorymacintosh6691
And he’s using his powers for good and not for evil – how refreshing, what a change! Go, Chris!
@Bobby-wn5yr
It’s actually hilarious how many people bought into the idea that if you give cash it took no thought but giving an objectively much worse gift of a gift card is seen as a better present somehow. In some cultures cash is preferable to gifts so it’s interesting how different perceptions can be and how they can be influenced by marketing Edit: a fun trend from the comments is the comments defending them seem to be overwhelmingly from the giver rather than the receiver perspective. I wonder if we all know a gift card is as lazy as cash, and a worse gift to receive, but it offers a kind of cop out when you don’t know what to get someone.
@TheMilwaukeeProtocol
Your shorts are the actual best. With much love from the U.S.
@JoalTaylor
I love it when you say, "I'd be guessing," and you have this anticipation of being horrified by the actual figure.
@sindisilencana1489
Restricted Money! 😂 Priceless 😅 wow.
@hardikkachhadiya9173
Your videos are giving reality and absolutely eye opener.....very good mate
@haunter4708
So true! I have always thought gift cards are the worst possible present.
@OhsohLibre
I like gift cards for restaurants. They force me to go have a night out rather then spend the money on gas or something more boring. I always let the person who got it for me know i had a great time and thank them
@ThatNiceDutchGuy