Through new online site Gift Kado (www.giftkado.com.au) consumers can buy, sell or donate unwanted store gift cards.
Australians spend up to $2.5 billion each year on gift cards, which are seen as an easy present to buy but more personal than giving cash. However, research has found that about $360 million worth of gift cards bought this year will never be redeemed.
“Consumers are unnecessarily losing money from unwanted or expired gift cards,” says Gift Kado founder Michelle Joy. “Gift Kado gives consumers the opportunity to get value back from their unwanted gift cards, while offering value to other buyers who will use or appreciate those gift cards that would otherwise go to waste.
“Gift Kado will help thousands of people get more value out of their gift cards, or find a more enthusiastic recipient. It’s straightforward to use, and straight to the point for buyers and sellers.”
Joy says the appeal of Gift Kado is simple. “For buyers, don’t overpay for retailer gift cards when there are discounted cards sitting in our online marketplace waiting for a new home. For sellers, don’t miss out on cashing in the gift cards that are inherently their own form of currency.”
While Gift Kado is currently the only dedicated secondary gift card marketplace in Australia, the market is growing in the US where the overall gift card industry is estimated to be worth $110 billion annually.
