CardCash.com has revamped their internal system to accommodate the market’s increased demand for electronic gift card sales. With digital gift cards taking over an increasing share of the $110 billion US gift card market, the move to buying and selling electronic gift cards helps CardCash.com meet customer’s needs.
Estimates place the number of unused gift cards at about 10 percent of the market. CardCash.com lets users tap into this market by buying the gift cards directly from consumers, paying up to 97% for unwanted gift cards that would otherwise sit in a person’s wallet. Consumers looking for a bargain can then buy discounted gift cards to leading retailers, saving as much as 40% at great retailers nationwide.
Where do electronic gift cards fit into these growing numbers? Digital gift card sales have continued to steadily climb over the past number of years. According to a study by Transaction Wireless 28% of retailers accept digital gift cards.
Another frontier on the digital gift card front is mobile gift cards. The same study from Transaction Wireless shows only 15% of retailers currently offer them, but that number is expected to surge to 61% within three years’ time. The growing popularity of Apple’s Passbook app has helped lead the surge.
CardCash.com’s e-code sale system helps consumers tap into this ever-growing market. Since introducing the new system last month, customers have been able to sell their gift cards electronically to the country’s leading retailers, including Home Depot, Lowe’s, Best Buy, Apple and Macy’s among many others.
During the holiday season alone Americans purchased roughly $28.79 billion in gift cards, according to the National Retail Federation. But with annual gift card sales expected to top $110 billion this year, it’s not only the holiday season when people buy gift cards. In fact, a survey released on June 18th, 2013 by the Retail Gift Card Association shows 91.4 percent of people reporting they plan to give one to three retail gift cards as gifts in the next three months.