To kick off the launch of Travel Wallet, Barclays is hosting a Souvenir Swap Shop with Gemma Collins that promises to help people rid themselves of unwanted knick-knacks.
With Travel Wallet, a new in-app feature that helps Barclays customers keep tabs on their spending abroad, travelers will be able to easily exchange pounds into euros or US dollars without additional fees for card transactions, and also exchange currency left in their wallet after a trip for free.
As Barclays' research shows that 23% of people purchase souvenirs at the end of a holiday simply for the purposes of using up the last of their cash, the Souvenir Swap Shop set up in London will let people exchange the travel purchases they most regret for cash, after the items have been valued by Collins.
Knick-Knack Exchange Shops
Barclays' Souvenir Swap Shop Lets People Trade Tchotchkes for Cash
Trend Themes
1. Souvenir Swap Shops - Creating physical spaces or online platforms where travelers can easily exchange unwanted souvenirs for cash has disruptive potential in the travel industry.
2. Travel Wallets - In-app features such as Barclays' Travel Wallet, which provide customers an easier way to keep track of their spending abroad and exchange currencies without fees, have disruptive potential in the mobile banking industry.
3. Tchotchke Trading - Online marketplaces or physical shops that enable buyers and sellers to trade knick-knacks have disruptive potential in the e-commerce industry.
Industry Implications
1. Travel - Travel companies could embrace souvenir swap shops as part of their customer experience offerings, providing an additional revenue stream while also promoting sustainable travel practices.
2. Banking - More banks could invest in developing mobile banking features like travel wallets that cater to the needs of customers traveling abroad.
3. E-commerce - Online marketplaces that focus on niche trading, like tchotchke exchanges, could create a whole new category of e-commerce, tapping into the demand for unique and quirky items.