GOT IT, SPEND IT: Often stowed away in a wallet or a drawer, hundreds of thousands of gift cards are never redeemed for fashion or other products. But shoppers will soon have reason to dig them out and ring them up.

National Use Your Gift Card Day will likely be celebrated Jan. 21 as a reminder to the estimated 47 percent of U.S. adults, who’ve unused gift cards, vouchers or store credits.

Delray Beach, Florida-based publicist Tracy Tilson first cooked up the annual event 4 years ago, driven mostly by the cache of unused gift cards that she and her family have. “It was pretty funny, because everyone I talked to said they’d some of their wallet, of their purse or in a drawer. That’s how claiming the day all began,” she said Monday.

All those forgotten or can’t-be-bothered-to-find gift cards amount to $21 billion in unspent money for the U.S. population, based on a survey last summer by creditcards.com that was conducted by the net resource YouGov. The typical amount of unspent gift cards, vouchers and store credits was $175 last 12 months — a large gain in comparison with $116 in 2021.

Interestingly, the worth varies by generations, with 52 percent of Millennials having forgotten stashes with the best values of unspent money at $226. Gen Xers were next according to a median of $180, followed by Gen Zers ranked — 51 percent have yet-to-be spent resources on average of $149, based on the survey. Baby Boomers were fourth with a median of $133.

Gift cards proceed to be a go-to holiday purchase with hundreds of thousands of consumers. The National Retail Federation forecasted that 2022 holiday spending on gift cards would hit $28.6 billion in comparison with $28.1 billion within the 2021 holiday season. Throughout the key five-day Thanksgiving weekend holiday shopping period, gift cards were the preferred category behind apparel and toys, accounting for 27 percent of all purchases. Most consumers planned to buy three or 4 with a median denomination of nearly $51.50.

The third week of January appeared like the proper time to remind consumers to money in on those gifts. Noting how retailers like Macy’s and Maurices are on board with the upcoming event, Tilson said the latter will offer shoppers who use their gift cards on Jan. 21 triple points. Neither retailer is a client of the NUYGCD founder. Her company has an eclectic mixture of clients across industries that include BJ’s, Talbots, Dunkin’ Donuts, the International Gem & Jewelry Show, Cyclebar, AAA, Krispy Kreme and other established and lesser-known businesses. Chains like White Castle, Panera Bread and Smashburger are on this 12 months’s roster for NUYGCD.

While logic would appear to point that unused gift cards are more helpful to retailers since money is spent for them, but often no goods are purchased with them, Tilson said many consumers typically spend slightly greater than the designated amount, once they do buy something. The identical is commonly true for diners who use gift cards in restaurants.

Designed to be a PSA greater than anything, Tilson said, “It’s crazy the way it’s a straightforward thing. But we’ve all gotten very busy with our lives. It’s a great time to pause and gather up whatever gift cards can have gathered over the vacations and prior to them,” she said. “Whether it’s for a restaurant, retail or a service like a massage or something, it’s the chance to make a day of it and treat yourself. Or you’ll be able to donate it and pay it forward. There are such a lot of worthy causes and folks, who’re doing great things in communities. Just donate it. It could possibly be a restaurant [gift card] for a primary responder or another person locally.”