Don't Bust The Budget This Holiday Season
Instead of Cutting Back to Purchase Holiday Gifts, Pouring Loose Change and Cashing in Unused Gift Cards Can Help Bridge the Gap
While 74 percent of holiday gift givers cut back on indulgences like eating out (53 percent) and entertainment (52 percent) to ensure they can check everyone off their holiday gift list, Americans likely have more cash available than they think. In fact, 85 percent of survey respondents report that they have spare change lying around, while 58 percent are holding at least one gift card, with an average of four, in their possession right now.
"The holidays are meant to be a time of joy and celebration, but one thing is certain: We can all use a little extra cash this time of year – for gift giving, holiday meal planning or donating to charity," said
Find All Your Money
Taking advantage of hidden money can help bridge the gap between what consumers actually spend and the money they set aside for holiday shopping. Coinstar can help consumers maximize their budgets this holiday with two options:
- The big green Coinstar® kiosks make it simple for consumers to convert coins to cash or no fee eCertificates, and
- New, bright yellow CoinstarTM Exchange kiosks, now available in select markets, let consumers instantly exchange unused or partially used gift cards for cash.
While survey respondents who have spare change lying around estimate they have just under
Get the Most Out of All Your Money:
- Control it with cash. The need to get holiday spending under control might explain why 50 percent of holiday gift givers usually pay for most or all of their presents with cash.
- Coins are money, too. While 85 percent of Americans report that they have spare change lying around, 86 percent of survey respondents would not feel comfortable buying holiday gifts with just coins.
- Gift card collectors. More than half (58 percent) of Americans are holding at least one gift card and many of these gift cards might be lying around for some time before they get used. In fact, 48 percent of Americans admit that when they receive gift cards they wait to use them or never use them at all.
- Money going to waste. Many people look for ways to ensure that they can get gifts for everyone on their list, but only 12 percent sell gift cards to help stretch their budget. That still leaves a lot of money – more than
$1 billionin gift cards goes unredeemed annually1 – that could be used to bolster holiday budgets.
To learn more or locate the nearest Coinstar and Coinstar Exchange kiosks, go towww.coinstar.com/holiday. For additional survey findings or to request high-resolution images, b-roll of Coinstar or Coinstar Exchange kiosks or a holiday infographic, please contact email@example.com.
1 CEB TowerGroup, "Gift Cards State of the Union 2013,"
Lynsey Kehrli, Edelman for Coinstar, (206) 664-7815 direct, firstname.lastname@example.org