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Experts: 'Regifting' loses its stigma

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SUGAR LAND, Texas, Dec. 12 (UPI) -- A Texas-based financial company said the economic downturn has transformed the practice of "regifting" from tacky to mainstream.

Joanne Kerstetter, vice president for financial education non-profit Money Management International, which operates a website devoted to "regifting," said the economic downturn has taken the taboo out of giving away possessions received as gifts, the Orlando (Fla.) Sentinel reported Wednesday.

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"It's becoming more mainstream," Kerstetter said. "It's a way to help people save on holiday expenses. It is a method of recycling, and it's a way to take the emphasis off gift giving and (to bring back) the spirit of the holidays."

The company is offering advice on "regifting" at regiftable.com.

American Express said a recent survey determined about a third of consumers "regifted" during the holidays last year.

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