Gift cards have become a popular way of gifting, as it allows the receiver to choose what they want. While gift cards can be convenient, they also come with a significant amount of waste. It is estimated that billions of dollars go unspent on gift cards each year. In this article, we will explore the amount of money that consumers waste on unused gift cards and how to avoid this waste by sell gift cards.
Unused Gift Cards
Gift cards are a popular gift option for holidays, birthdays, and other special occasions. However, not all gift cards are used, and a significant amount of money goes unspent on these cards each year. The National Retail Federation found that $1 billion in gift cards went unused in 2006, and this number has only increased in recent years.
Reasons for Unused Gift Cards
There are several reasons why gift cards go unused. One of the most common reasons is that the recipient doesn’t like the store or doesn’t need anything from that store. Another reason is that the recipient loses the card or forgets about it. Some people also receive multiple gift cards to the same store and don’t use them all. Whatever the reason may be, unused gift cards lead to a waste of money for consumers.
Selling Gift Cards to Avoid Waste
One solution to avoid the waste of unused gift cards is to sell them. There are several websites and apps that allow individuals to sell their gift cards for cash or trade them for other gift cards. This option can help individuals get the most out of their gift cards and avoid wasting money.
Benefits of Selling Gift Cards
There are several benefits to selling gift cards. The first benefit is that individuals can get cash for their unused gift cards, which they can then use for other purchases. This is especially helpful for people who don’t want to waste money on unused gift cards. Another benefit is that individuals can trade their unused gift cards for gift cards to a store that they actually use, making it more likely that the gift card will be used.
Considerations when Selling Gift Cards
When selling gift cards, it’s important to keep a few things in mind. The first consideration is the amount of money that can be received for the gift card. The value of the gift card will depend on the store and the balance on the card. It’s also important to consider the fees associated with selling the gift card, as some websites and apps charge a fee for their services. Finally, it’s important to consider the security of the website or app used to sell the gift card, as personal information will need to be provided.
Consumers waste a significant amount of money on unused gift cards each year. Selling gift cards is a way to avoid this waste and get the most out of your gift cards. However, it’s important to consider the amount of money that can be received, the fees associated with selling the gift card, and the security of the website or app being used. By taking these factors into account, individuals can sell their gift cards and avoid wasting money on unused gift cards.