Kinkikali

Gift Card Check

Christmas came and so did the gift cards.  I am personally a favorite of gift cards.  They are handy, neat, and flexible.

But I wonder about them in the economic sense.  Each year they track sales.  Each year the same economists track holiday spending.  And after Christmas the same numbernuts talk about all those gift cards being spent.

Is there double counting being done?

I can see adding the sales of the cards at their point of sale to the total.  But why does it seem they count it again at “cash in” point?

I ask this as recent economic downturns are worsened by idiot economics where foggy manipulation rather clear explanation of economic realities.