Consumer gift cards were the hottest item of last year’s holiday season. Naturally, stores are pushing them again this holiday season—but maybe for a reason few consumers suspect.

Although many people appreciate the convenience of gift cards, according to a study conducted by WSL Strategic Retail, others are frustrated by gift card fees and expiration dates.

But that is small change compared to what the Tower Group uncovered.

The Tower Group report, "Gift Cards: How to Ensure They Don't Become Drift Cards," illustrated a number of ways consumers risked receiving less than full value for their cards. Unused cards topped the list.

The firm estimated that, in 2006, the value of unused gift cards in the US was $8 billion.

A survey of US adults conducted in October by Consumer Reports found that 27% of the 2006 holiday season card receivers had not used one or more of the cards nearly a year later.

More than one-third of the respondents said they did not use the cards because they forgot about or lost them, or the cards had expired. But the most common reasons for non-usage were that users did not have time to shop (58%) or could not find anything to buy (35%).