By searching the internet for used gift cards that can be bought, sold, and exchanged online for incredibly low costs, many consumers have saved hundreds of dollars.
Pre-owned cards are predicted to rank among the most well-liked gifts to date, bringing in around $20 billion in total in holiday retail sales each year. Many analysts predict that over the next few years, a total of $60 billion more will be spent on store brand-specific cards.
A little-known fact, though, is that only around 10% of the money from all those sold cards is really used. As a result, a sizable number of internet vendors have unexpectedly appeared, creating a little-known secondary market for these well-liked goods. According to several estimates, this will result in additional sales of $2 billion.
Private and Professional
These private and professional sellers provide all purchasers a fantastic opportunity to get one at a discount of anywhere between 10% and even 50% off the original face value. Each of these cards can be gifted to loved ones or redeemed for goods in the store. This can be a quick and easy way for all the traders to switch out a gift card they don’t like for one they do like from a retailer they genuinely love without the original giver ever knowing. It is a rarely quick and simple way for all of the sellers to receive cash for their unused card.
Gift Cards & Coupons should use particular caution when exchanging cards. Even though the vast majority of internet vendors are honest, the secondary market is still a young industry. Despite a variety of rules and safeguards, the safety of a transaction depends on both parties who take part in it. In addition, there is still a very serious worry about fraud and stolen goods.
Numerous Alternative Business
There are numerous alternative business strategies available now for purchasing used playing cards online. A closer examination of this issue finds that there are more and more reliable online markets, including eBay.
These cards can also be bought online at specific card trading websites, however everything is usually expensive. These used card-specific websites typically charge consumers a registration fee, which is typically between fifty cents and a few dollars, or a transaction fee, which is typically between three and eight percent of the entire value of the gift card. Numerous websites impose a mix of the two fees, which can significantly reduce the overall worth of your card.
The fact that not all gift cards are swapped equally is another reason to exercise caution. You’ll find it easier to find the ideal pre-owned cars if you pay close attention to market demand.
Initially, you must exercise caution and think carefully about a variety of factors, including when to buy from sites like eBay. Many gift card exchange websites exhibit an imbalance between supply and demand, with a disproportionate number of vendors and purchasers on any given day. The market is swamped with unused holiday gift cards during the first few weeks of each year, especially in the month of January after the holidays, which exacerbates this imbalance. The weeks after other big gift-giving holidays, like Valentine’s Day and Mother’s & Father’s Day, are also busy times.
Savvy Consumer Will Benefit
The savvy consumer will benefit from a far wider range and potentially lower pricing than they would otherwise pay throughout the rest of the year. It might be a nice inducement for prospective sellers to hold off, but not for too long. Most online stores ban selling gift cards with expiration dates or fees for unredeemed balances in order to avoid problems.
The second step is to decide what to buy and sell. Even while it may not be obvious from a passing visit to one of these websites, frequent second-hand shoppers and dealers are aware that not all used cards are a good deal. The majority of cards are sold for 10% to 15% less than their full face value. Remember that a discount of between thirty and forty percent is regarded as excellent. But whether a used card is genuinely worth the price depends on the popularity of the shop and the state of the card.
From the perspective of the consumer, national merchants that provide a wide variety of unusual presents are where you can find the best deals. In most situations, it takes longer to sell cards from those national retail chains, and they are frequently discounted by 20% or more. Because there are fewer bidders and a lower demand, smaller regional retailers frequently offer discounts of fifteen to twenty percent. Since so many impulse purchases are made around the holidays, the secondary market is overrun with used gift cards, which causes larger retailer cards to trade at a greater discount.
Getting Something Very Different
The risk of getting something very different from what you had anticipated is one of the last warnings to be aware of. Buyers should use a credit card or online payment provider and anticipate receiving a card in a fair length of time. Sellers of used gift cards should anticipate timely payment.
Final Word
Nowadays, almost all online auction or seller platforms offer some type of fraud prevention, but with varying levels of complexity and scope. Particularly on eBay, sellers are only permitted to sell one card each week with a maximum storage value of $500 and must register with a credit card. This makes sure that anyone wishing to buy used gift cards has a secure and pleasurable shopping experience. Find the ideal used gift card for yourself, your loved ones, or both by browsing our huge directory. Online gift card purchases are quick, straightforward, and accessible from any location in the world.