It's a Bird! It's a Plane! It's a Gift Card!

Industry analysts say some $9 billion in gift cards sold last year still have not been spent. These days, a lot of people would rather have a few extra bucks in their pocket than a shopping spree at a book store.

Here's the good news: several websites are now offering cash for those unused cards. Sites like www.Giftcardbuyback.com , www.PlasticJungle.com and www.Swapagift.com are just a few sites that will buy your cards. Just punch in the value of your gift card and it will tell you how much you can get for it. You won't get the full value of the card, but it is still money you can spend anyway you like.

Promotional gift cards have had significant appeal to retailers looking to attract new consumers, but one of the major shortcomings about the form of plastic is that most card holders remained anonymous. This made it impossible for merchants to promote to the card holders and drive redemption rates. A new media platform successfully tested with a regional shopping mall could re-write those rules.

Currently in beta testing from a provider called Dukky, the new media platform is expected to deliver redemption rates up to 30% higher than traditional coupons or direct mail promotions, according to Scott Couvillon, president of Dukky.

The new platform allows consumers to choose from a group of targeted gift cards within one direct mail or Internet offer. Consumers are prompted to activate only the offers they plan to use, and direct which future offers they want to receive. Each card includes a unique activation code for individual consumers, which allows the retailer to track interest and redemption. The cards also are printed with the bar codes that correspond with the retailers’ internal POS systems. The retailer gets to know you faster this way.

Click here to list of listing of state laws regarding gift cards. It pays to be informed.

http://www.consumersunion.org/pub/core_financial_services/003889.html