in_the_media

SmartMoney - December 9, 2010

Media Outlet: 

SmartMoney



Stores are pushing more gift card purchases this season, and by most accounts, it's working. Three out of four shoppers are expected to buy at least one gift card this season. On top of retailers' efforts, new regulations instituted by the 2009 CARD Act have made gift cards a better deal for consumers, says Katherine Gerst, an assistant professor of marketing at Temple's Fox School of Business. In particular, recipients now have five years to use their gift cards, up from a more typical two, and they also have a year’s grace period before "inactivity" fees kick in.