Gift Card Sales Projected To Break Records This Year

Gift card sales are projected to $24.81 billion this holiday season, according to a survey done by the National Retail Federation and published Friday, and the NRF reports that as the largest gift card sales projection they've ever given. Indeed, that's $6 billion more than they reported just last year. That survey also projects that "average consumers" will spend significantly more on gift cards than they did last year--$116.51 vs. $88.03 in 2005.

Is it just me or does this take away almost all of the holiday magic of gift-giving? Isn't the whole point that the gift-giver thinks about the recipient enough to select the ideal item? Well, there's one consumer benefit: No needs to wonder about how much you spent.