Chatterbox has been ahead of the curve, part of the curve, and occasionally missed the curve. Still, though the time frame fluctuates, often, subjects of this column show up after our chats.
Of course, there is that common consciousness we’ve talked about, but that situation came up twice just this past week. One of them was the amount of money lost every year on gift cards. Gift cards are a business idea that has left numerous entities fighting over the billions (yes, that’s a B) of dollars that go unused on gift cards every year.
Forgotten cards, inadvertently misplaced or discarded cards represent a veritable bounty of profits for ... well, that’s a good question. For whom? It’s no mistake that there’s no notification system for unused money belonging to recipients. Boy, the power knows where to find us when we owe them money. The opposite should be legislated to be the same.
When we purchase a gift card, the seller takes a nominal fee for processing the card. Then, the recipient gets the face value, spendable at its particular location and some spendable anywhere. We can even pay bills with them ... but, the recipient must actually use the card.
I’ve always found it nauseatingly enchanting that businesses keep track of every pound of what brand of spinach we took home, but can’t seem to locate money we bought on a gift card, even one specific to their business. We all know the truth; they can do it. It’s too profitable for them not to, proven by the contention over who gets the money.
Secondly, it’s imperative to share the information about how to protect ourselves from the scam. Every card has a code. Save a copy of that code whether you photocopy it, or just write it down on the receipt ... and yes, save that receipt.
Finally, let your gift card recipient know, when you give them the card, that you have saved pertinent information to reclaim card value should they lose it. This serves three purposes. It lets them know that they need to be cautious about handling their gift card; it makes them aware that the sooner they use it, the better, and, finally, that they are free to call you and feel comfortable telling you they’ve lost it. Then, you can pass on that information and the card value can be reclaimed ... hopefully.
Also, when buying a card for a large amount of money for someone, get several small ones instead. Yes, they have to keep track of more cards, but it’s less likely someone will misplace three cards than one, especially after a single use.
No large corporation is going to be generous ever, much less when billions of dollars per year are up for grabs. These mega-rich companies would rather get those lost billions than have them go the rightful owners. So, keep your friends close and your gift cards closer.
On another topic, just last week we talked about sticker shock at the supermarket. Two days after the column hit the stands, my husband (and star reader) found an article on grocery store prices and their incongruity with supply and, worse, the incongruities between shelf stickers and the price we pay at the register.
The saddest part of about these two topics is how it demonstrates that America’s large food chains are not respectful of their customers or those customers’ critical difficulties, particularly in our current situation. We’re not only still contending with: the residual unemployment and business pruning of Covid; the financial despair created by that pruning; and the residual effects of the debt created by Covid, but by the economic situation as well.
Let’s face it, trickle-down economics didn’t work for those at the “down” end and, seriously, everyone knew it wouldn’t. Still, the profiteers of all such economic fails not only benefit greatly from such red herrings, they keep the ceilings in place even after the floor drops out. Such Scrooges, who repeatedly find ways to skin the innocent public, mesmerize me.
Right now, even our gas prices have begun to drop – disproportionately, but a drop nonetheless. Food prices have not. True, many increases were initially from the chaos of Covid shortages, then from shipping expenses, but even at that, they should be reflecting some improvement in shipping costs.
We can only wonder how long it will take for them to start dropping back into the realm of affordability, if ever.
And so it goes. Read all about it.
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