Why are gift vouchers/tokens non-refundable?

I'm just wondering what the logic is behind it. I run a small business and issue gift vouchers. I know large retail stores etc have a policy where gift vouchers/tokens are non-refundable and have an expiry date and I just wonder why they do this.Why are gift vouchers/tokens non-refundable?
so that they keep your busines. If you exchanged if for money you could go and spend it elsewhere. Vouchers dont usually have an expiry these days.





Edit: Put up a large and clear sign so you dont have to explain to anyone.Why are gift vouchers/tokens non-refundable?
Also because of the goods' cost vs. their selling price. If you issue a voucher for say, 拢10 and you refund a customer, it will have cost you 拢10 cash from your books, whereas if the customer uses it, it will have cost you your buy price for the goods (let's imagine it's 拢5) and that won't even be a cash payout, but only a stock reduction (which is actually a good thing in some cases). AND the customer is likely to buy more than the voucher's nominal value anyway, so it increases your revenues.


So refunding costs you a **lot** more, in several ways, than to force customers to use the vouchers.
so they have to be used in your store not a better one. otherwise you lose buisness.





(im not talking about the person who asked the question)
so they don't take the money and spend it elsewhere because if they do they lose out, don't they?