Chances are you received a few gift cards this Christmas. Or perhaps you are guilty of gifting a few yourself. Sure, your teenage niece may be impossible to buy presents for, or you ended up attending your boss's Christmas dinner at the last minute and couldn't show up empty-handed. We understand.
But convenience is no excuse. Gift cards rank at the very bottom of presents you can hand to someone. Forget about the fact they are impersonal. They are simply bad value for money.
For example, most gift cards carry expiry dates, which is why companies love issuing them in the first place. Studies show that anywhere between 20 per cent and 30 per cent of all gift cards and vouchers go unredeemed. That's a straight giveaway to the stores that offer them.
Even when the gift recipient remembers to use the card, most companies won't allow for a cash refund. The person either has to spend more than the card's balance and make up the rest with their own money, or throw away the last few remaining dollars.
The Fortress gift coupon typifies these strict and customer-unfriendly rules. Issued in values of HK$100 or HK$500, each voucher is valid only for a single purchase and expires two years after the date of issue. Fortress does not give change, and the paper voucher has to be in good condition. The company will not accept lost, defaced, or damaged gift coupons.
Steven Siu, a customer service representative for Fortress, says he doesn't know why the retailer puts an expiration date on gift cards. He adds: "We are not forcing customers to purchase the coupon."
As to why Fortress will not give change on gift certificates, Siu says people buy the gift certificate to give it to someone else. "The purchaser wants that person to use it at Fortress," he says.