Gift Card Tsunami Forecast

47% of U.S. adults have at least one unused store credit or gift card, according to a new Bankrate study.

The research reveals those gift cards typically still have a lot of money on them, the average value is $187 per person, a total of $23-billion for the country. That's 23 billion that has already been spent but the goods or services haven't been collected yet. If that 23 billion of goods and services were collected in a 12 month period some economists predict it could lead to collapse for some businesses.

Key findings from Bankrate’s research:

• As a result of the economy, 39% of U.S. adults say they’re trying harder to use their gift cards this year.
• Younger generations are especially putting in more effort, as 50% of Gen Z and 49% of millennials say they’re trying to use gift cards more in the last year, compared to 35% of Gen X and 27% of baby boomers.
• Those with higher income levels are less likely to use all gift cards. While 62% of people with a household income of $100-thousand or more a year have unused gift cards, only 37% of those with a household income of $50-thousand a year do.
• Gen Xers have the highest average value in unused gift cards at $251 per person, compared to $145 per person for baby boomers, $198 per person for millennials and $168 per person for Gen Zers.
• Men also tend to have more in unused gift cards than women, they have an average value of $213 per person, while women have an average of $163 each on their unused gift cards.