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A research note from Mercator Advisory Group, titled Customers Reselling Gift Cards: Benefits for Retailers, provides an analysis of the secondary market for retailer-issued gift cards. The research note examines the size of the market, major players, and actions that issuers should consider if they wish to benefit from opportunities in this new market.
Retailer gift cards are one of the most popular gifts in the United States. Unfortunately, givers don’t always choose the gift cards their recipients would prefer. The growth of gift card resale sites has solved this problem in a way that can reduce the incidence of fraud, breakage, and perhaps more important, disgruntled customers.
"Gift card recipients are not always happy with the cards they receive. With Internet gift card exchange and resale sites, they now have additional options for what to do with the cards," Ben Jackson, Director of Mercator Advisory Group's Prepaid Advisory Service, and author of the report, comments.
This research note is 8 pages long and has one exhibit.
Companies mentioned in this research note include: Blackhawk Network, CardCash, eBay, GiftCardBin.com, GiftCardGranny.com, GiftCardRescue.com, inComm, MonsterGiftCard.com, Coinstar Exchange, Raise.com, Target, and Walmart.
Highlights of the research note include:
- Data on U.S. consumer awareness and use of gift card resale sites
- Brand implications
- Business models of resale sites
- Brief descriptions of specialty sites participating in the secondary gift card market
- Recommended ways for retailers to benefit from gift card resale sites