The growth of the promotional gift card industry has given rise to alternative ways to use and purchase cards. For example, MSNBC reports that if someone receives a promotional gift card loaded with money toward purchases from airlines, online travel agencies or hotels, the recipient may not have the time or the money to travel in the near future, and the gift card goes unused.
Certain sites make use of unused gift cards by placing them in an online marketplace and selling them to buyers, typically at a discounted rate. Consumers can also trade in exchange for cards more relevant to their interests, or even donate a card to charity, the Des Moines Register reports.
WPVI-TV adds that because approximately 10 percent of the $90 billion dollars of gift cards sold each year go unused, the card exchange marketplace is ripe with opportunities. Some sites offer cards discounted up to 13 percent off face value.
Beacuse of the earning potential for card exchange websites, sellers are eager to cash-in on the trend.
“As long as there’s a decent balance on it, I will purchase it,” Butch Smith, owner of an Iowa-based gift card reseller, told the Register.Back To Blog