CardSwap is disrupting the gift card phenomenon by allowing members to sell their cards at decent discounts to other members. Somewhat similar to eBay, CardSwap acts as an intermediary, and takes a 6% commission on each transaction.
The advantage to the seller for using CardSwap is that they end up getting cash for something that they got for free, while the purchaser ultimately gets a discount on something they were going to buy regardless.
Implications - Personally, I find this site ingenious. For years I've contemplated how useful a service like this would be, and now CardSwap has established itself as the preeminent online Canadian marketplace for gift card swaps. Strap in.
Cashing in On Gift Cards
CardSwap Lets You Dump Promotional Gift Cards for Cash
Trend Themes
1. Gift Card Reselling - Opportunities for disruptive innovation include creating a platform for peer-to-peer gift card reselling with lower commission fees or introducing a blockchain-based gift card exchange system.
2. Discounted Purchases - Disruptive innovation could include developing a mobile app that allows users to purchase discounted gift cards on the go or partnering with merchants to offer exclusive discounts to gift card purchasers.
3. Gift Card Monetization - Disruptive innovation opportunities include developing technology to help retailers and brands convert unused gift cards into revenue or creating a service that aggregates gift cards from different brands into one digital wallet.
Industry Implications
1. E-commerce - E-commerce platforms can capitalize on the trend by incorporating gift card reselling capabilities into their websites or apps to attract more customers through offering discounted purchases.
2. Retail - Retailers could develop partnerships with platforms like CardSwap to generate more revenue from gift cards or explore ways to leverage unused gift cards to incentivize customer loyalty.
3. Fintech - Disruptive innovation opportunities in FinTech include developing blockchain-based gift card exchange platforms or creating digital wallets that allow users to easily manage their gift cards and other forms of digital currency.