Market Trends: Why Are So Many Gift Cards Going Unspent?

According to a recent study, over 50% of Spotify gift cards are being used up within the first year. This is not surprising, considering that many users don't know how to redeem their card or use it effectively. The average value of a unused gift card can range from $20 to $100, which is more than enough to cover the cost of a new music subscription.

Consumer Behavior: What Drives Gift Card Spending?

Research suggests that users are spending their gift cards on popular songs and albums. The top five most purchased items from a Spotify gift card are often the same, including songs like Taylor Swift's "1989" and Billie Eilish's "When We All Fall Asleep, Where Do We Go?". This highlights the importance of staying up-to-date with new music releases and trending artists.