Raise Lets Consumers Resell Unwanted Gift Cards
Raise is an online platform that makes use of unwanted gift cards by allowing consumers to resell them in a crowdsourced atmosphere. The service offers a way to exchange or gain a monetary profit on a card to a store that would otherwise go unused, but might be valuable to a fellow consumer.
Gift cards are a popular purchase item for many consumers that are unsure of what to gift someone. Yet the store credit can go unused if the receiver is uninterested in the brand -- and many gift cards cannot be returned. Raise offers a solution by allowing consumers to sell to other shoppers their unwanted cards with a discounted rate. The cards can also be resold to the companies.
The platform tracks buying and selling habits, tracking which company cards are often being resold.
Gift cards are a popular purchase item for many consumers that are unsure of what to gift someone. Yet the store credit can go unused if the receiver is uninterested in the brand -- and many gift cards cannot be returned. Raise offers a solution by allowing consumers to sell to other shoppers their unwanted cards with a discounted rate. The cards can also be resold to the companies.
The platform tracks buying and selling habits, tracking which company cards are often being resold.
Trend Themes
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Crowdsourced Gift Card Marketplaces — Online platforms that enable consumers to sell unwanted gift cards in exchange for a monetary profit are disrupting the traditional gift card market.
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Data-driven Gift Card Sales — Gift card marketplaces that track consumer buying and selling habits are disrupting traditional methods of gift card distribution and sales.
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Personalized Gift Card Recommendation Systems — Platforms that use AI and machine learning to provide personalized gift card recommendations based on buyer and receiver preferences are disrupting the traditional gift-giving experience.
Industry Implications
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Retail — Retail companies can benefit from partnering with gift card marketplaces to resell unused cards and gain insights into consumer buying habits.
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E-commerce — E-commerce companies can benefit from offering gift cards on marketplaces that enable consumers to resell unwanted cards and generate revenue for the company.
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Financial Technology — FinTech companies can benefit from integrating with gift card marketplaces to offer innovative payment and redemption methods for consumers.
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