If you're like millions of other Americans, you have at least one unused gift card in your possession. Sure, it's the thought that counts but nobody likes getting a gift card they'll never use because their tastes or lifestyle don't match the merchandise of the retailer where the card was purchased. Now consumers everywhere can dig deep into their dresser drawers to pull out those unwanted gift cards and sell or trade them.
"About $10 billion in unused gift cards are in circulation in the American marketplace, representing an enormous economic opportunity for individuals as well as retailers," said Bob Butler, Cardavenue president and CEO. "Gift card sales are growing at staggering rates but many times the people who receive the cards don't redeem them. This is a problem for consumers and businesses alike."
Consumers who receive gift cards from stores they don't like are stuck with them. They either put them in the junk drawer or wait for an opportunity to "re-gift" them to friends or family members. This presents a challenge to retailers because they cannot count gift card sales as income until the card is redeemed. Consumers lose out because many retailers charge inactivity or dormancy fees when a card goes unused for a given time period; consumers are often surprised when they go to spend their $50 gift card, and it's suddenly worth $25.
Cardavenue.com is founded on the belief that many gift cards go unused because people don't truly want the product or service offered by the retailer the card represents. Through the Web site people can sell or trade their fully charged or partially used cards to receive cash or another card they would prefer.
"We believe Cardavenue.com is the customer-friendly option for encouraging gift card redemption," said Butler.
For people who want to purchase something from a particular retailer, the site is a way for them to find a bargain by buying auctioned gift cards below their face values. From electronics and auto parts to restaurants and pet supplies, Cardavenue.com features a wide variety of gift cards for sale or trade.
As gift cards increase in popularity, more consumers will be looking for ways to secure their cards' value, and retailers will be eagerly trying to encourage redemption. Cardavenue.com can provide a handy solution.
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