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True. I’ve never understood it, but the only thing that makes sense is they’re using it like a savings account, like preallocating consumption to limit their consumption type. Layaway confuses me the same way but the motivation is similar I think.
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That's where my mind was going as well, but a lot of gift cards are for luxuries, like fancy coffee. Maybe that's because the gifter wants them to treat themselves, though.
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This is gift cards, though, and consumers love them for some reason. In every respect (unless I'm missing something), it's better to just have more cash than a gift card.