POSTED: Monday, November 17, 2008 - 6:46pm
UPDATED: Wednesday, March 17, 2010 - 10:59am
Experts warn - with the economy in a tailspin - restaurants and stores are going bankrupt
TYLER - With the Christmas holidays about a month away - East Texas stores are drawing in shoppers like Fay Owens.
She's after one present that never goes out of style.
"I don't always know what to get," said Owens. "So I just get a gift card and let them do what they want."
At Doris Horton's house it's the same story.
Except she's usually on the receiving end of gift cards.
"My kids don't know what to buy me," said Horton, who likes restaurant gift cards the most. "We're so old we don't need anything, so they give us gift cards so can get what we want."
Both of these women seem to fit the trend.
According to a recent consumer reports survey, sixty percent of shoppers plan to buy gift cards this year.
But experts warn - with the economy in a tailspin - restaurants and stores like Bennigan's and Linens 'N Things are going bankrupt.
A Linens 'N Things spokesperson tells us - if they don't use its gift cards soon - it won't be worth the plastic its printed on.
"Go out use them as quick as possible," said Rich Tauberman. "Inventory is going down and store will close when the inventory is gone."
Sharper Image also filed Chapter 11 this year. So did Circuit City.
To avoid losing out - experts offer these tips:
- Give gifts it in cash or write a check.
- If you get a gift card - spend it quickly.
- Pay attention to expiration dates and fees.
Or you can do what one Tyler mom suggests - take time to find the perfect gift.
"I think gift cards are too impersonable," she said.